Suchergebnisse

The subject of the article are currency reforms that were carried out after the Second World War in the Polish state. The first legal regulations from 1944 - 45 concerned the unification of the money circulation, which in practice meant the exchange of occupation money for the new currency. However, the repayment of financial claims made before the outbreak of the war was regulated by a decree of 1949. Another monetary reform concerned the new, socialist economic policy of the Polish state. The basis for it was the Act of October 28, 1950 on the change of the monetary system. After this reform, periodic changes in prices and wages were introduced, which were not based on strictly legislative solutions. In practice, these ordinances were in the nature of new monetary reforms. The Act of 1950 was repealed by the Act of 7 July 1994 on the denomination of the zloty.

Abstract
The subject of the article are currency reforms that were carried out after the Second World War in the Polish state. The first legal regulations from 1944 - 45 concerned the unification of the money circulation, which in practice meant the exchange of occupation money for the new currency. However, the repayment of financial claims made before the outbreak of the war was regulated by a decree of 1949. Another monetary reform concerned the new, socialist economic policy of the Polish state. The basis for it was the Act of October 28, 1950 on the change of the monetary system. After this reform, periodic changes in prices and wages were introduced, which were not based on strictly legislative solutions. In practice, these ordinances were in the nature of new monetary reforms. The Act of 1950 was repealed by the Act of 7 July 1994 on the denomination of the zloty.

Purpose – The article aims at characterising Polish moratory laws during the Great Depression. The article is centred around the legislation on public and private law liabilities. The author pays particular attention to the structure of the Polish economy and to Poland's deflationary policy that determined the Polish legislation of that time. Research method – The author reviewed the literature on the subject and analysed legal regulations. Results – The author indicates that – given the structure of the Polish economy – moratory legislation concerned the farming industry in particular. It was mainly of an anti-enforcement nature and consisted in reducing the interest rate and spreading the debt repayment over several years (particularly as regards private law liabilities). Originality / value / implications / recommendations – The purpose and functions of moratory laws were, and still are, of particular importance to the economy, especially at the time of economic crisis. This is exemplified by the moratory legislation of the Polish State that adopted and pursued the deflationary policy.