Poland Bond - 10,000 Polish Marka dated 1920
Inv# FB6661 Bond
10,000 5% Polish Marks. Coupons remain to right of bond.
The mark (Polish: marka polska, abbreviated Mp., Polish-language plural declensions: marki, marek) was the currency of the Kingdom of Poland and of the Republic of Poland between 1917 and 1924. It was subdivided into 100 fenigs (phonetic Polish spelling of German "pfennig"), like its German original after which it was modeled.
During the World War I, in 1915, after defeating the Russians, the Central Powers occupied the whole territory of the former Congress Poland and appointed two Governors General: a German (Hans Hartwig von Beseler) in Warsaw and an Austro-Hungarian (Karl Kuk) in Lublin. The civil administration of the country was laid into the hands of imported German (mostly Prussian) and Austrian (mostly Polish) officials. Four currencies circulated: the Russian ruble, the German Papiermark, the German Ostruble and the Austro-Hungarian krone. On December 9 the following year, after consultations with the Austrians, the chief of the German Administration, Wolfgang von Kries proclaimed the foundation of a new bank, called the Polish Loan Bank (Polska Krajowa Kasa Pożyczkowa) and the creation of a new currency unit, the Polish mark, equivalent to the German mark. The stability of the new currency was guaranteed by the German Reichsbank up to the amount of 1 billion marks.
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.
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