AUSTRIA, DUNAZERDAHELY Prisoner of War Camp, 1 krone, 15.1.1916


AUSTRIA, DUNAZERDAHELY, Prisoner of War camp, 1 krone, 15.1.1916, Face: dark blue and black on multicolor, utility design, German legend, Back: dark blue and black on multicolor, utility design, Hungarian legend, C1360, small glue spot, VF

1 in stock

SKU: 2558864 Category:


The general idea of prisons being to keep those people away from everyone else, the next question is are you going to let them engage in any kind of economy at all, or are you just going to run everything about their lives? If you let them have “real money” they will inevitably get the guards to engage in corrupt activities, so, institutional money that can’t be used anywhere else. The denominations on these chits bore no relation to normal money.

Paper money, meaning the promise of a government to pay a set amount, and the paper promise allowed to circulate at will, was probably first used in China in the 12th century AD. At that time the merchants and governments of Europe were just writing letters to each other about what they owed.