Asia Minor, 1920.
Βullets, memories and currency.
After the landing of the Greek Army in Smyrna in 1919, (commissioned by the Great Powers) quickly became clear that somehow officers and soldiers had to be paid with an exchangeable currency in the Turkish mainland. The Bank of Greece has decided to issue a monthly bulletin with the exchange value between the Greek drachma and the Ottoman lira.
Lira was introduced as the main unit of currency in 1844, with the former currency, kuruş, remaining as a 1/100 subdivision remained in circulation until the end of 1927.
From 1912, the Ministry of Finance of the Ottoman Empire issued also paper money, produced in denominations of 5 and 20 kuruş (piastres) , ¼, ½, 1 and 5 lira, followed the next year by 1 and 2½ kuruş, 2½, 10, 25, 50, 100 and 500 lira. The metal para it was 1/40th of a kuruş. The notes bore texts in Turkish and French. 1000 lira notes were introduced in 1914. In 1917, postage stamp money was issued in the form of 5 and 10 para stamps affixed to card along with the metal coins.
The daily war costs for Greece was 2.8 million drachmas in 1919, 3.5 million in 1920, 6.8 million in 1921 and 8 million in 1922.
Βullets, memories and currency.
After the landing of the Greek Army in Smyrna in 1919, (commissioned by the Great Powers) quickly became clear that somehow officers and soldiers had to be paid with an exchangeable currency in the Turkish mainland. The Bank of Greece has decided to issue a monthly bulletin with the exchange value between the Greek drachma and the Ottoman lira.
Lira was introduced as the main unit of currency in 1844, with the former currency, kuruş, remaining as a 1/100 subdivision remained in circulation until the end of 1927.
From 1912, the Ministry of Finance of the Ottoman Empire issued also paper money, produced in denominations of 5 and 20 kuruş (piastres) , ¼, ½, 1 and 5 lira, followed the next year by 1 and 2½ kuruş, 2½, 10, 25, 50, 100 and 500 lira. The metal para it was 1/40th of a kuruş. The notes bore texts in Turkish and French. 1000 lira notes were introduced in 1914. In 1917, postage stamp money was issued in the form of 5 and 10 para stamps affixed to card along with the metal coins.
The daily war costs for Greece was 2.8 million drachmas in 1919, 3.5 million in 1920, 6.8 million in 1921 and 8 million in 1922.
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