ABSTRACT
The early post-war period provided a number of examples of multiplicity of currencies, in various countries in Central and Eastern Europe. The disintegration of the Austro-Hungarian and Russian empires and the inheritance left behind by the German and Austrian occupation armies resulted in a situation in which two or more currencies were circulating concurrently in the same country. Some of these currencies were more stable—or, shall we say, less unstable—than the others, and they fluctuated in terms of each other. This situation was not, however, the result of deliberate monetary policy, and was not in any way the result of reform measures. It is thus beyond the scope of this book.
