MONEY ORDERS BASED ON HUNGARIAN STATE REVENUES

The Austrian Finance Ministry decree of 24 February 1849 prohibited the ‘use of Hungarian bank notes in money transactions’ and, somewhat later, accepting, transferring or possessing them was made a punishable offence. ‘Kossuth notes’ were confiscated and even publicly burned. The money orders based on Hungarian state revenues were designed as a replacement but, because the Hungarian notes had been destroyed, were also issued on the Austrian side in order to cover the enormous war expenses.

Forced exchange was imposed on all crown territories, even in private transactions. It was only after this that the Austro-Hungarian Bank recognised these money orders > Plate 5. The Kingdom of Lombardy and Venetia was exempted. As a countermove, Governor Kossuth prohibited the acceptance of these orders in the name of the Hungarian government, and continued to issue Hungarian notes.