Editing Polish złoty (section)

===Second złoty===
[[File:Wzór 500 mkp styczeń 1919 awers.jpg|thumb|right|The złoty was reintroduced in 1924 and replaced the marka (Mp&nbsp;500 banknote pictured above).]]
[[File:20zl 1936.jpg|thumb|right|A 20-złotych banknote featuring [[Emilia Plater]] from 1936.]]
The złoty was reintroduced by the [[Minister of Finance of Poland|Minister of Finance]], [[Władysław Grabski]], in April 1924.<ref>{{cite book |author=Jerzy Lukowski |author2=Hubert Zawadzki |date=2019 |title=A Concise History of Poland |url=https://books.google.com/books?id=5uaADwAAQBAJ |location=Cambridge |publisher=University Press |page=304 |isbn=978-1-108-42436-3}}</ref> It replaced the marka at a rate of 1 złoty to 1,800,000 marks and was subdivided into 100 grosz rather than the traditional 30 grosz.<ref>{{cite book |author=J. Scott-Keltie |author2=M. Epstein |date=2016 |title=The Statesman's Year-Book |url=https://books.google.com/books?id=A9TMDQAAQBAJ |location=London |publisher=Palgrave Macmillan UK |page=1211 |isbn=978-0-230-27053-4}}</ref>

Following its inauguration, the second złoty was pegged to the [[United States dollar]] through a stabilization loan provided by the [[Federal Reserve Bank of New York]].<ref>{{Cite book|last=Steiner|first=Zara|title=The lights that failed: European international history, 1919-1933|date=2005|publisher=Oxford University Press|isbn=978-0-19-151881-2|location=Oxford|oclc=86068902}}</ref> The budget deficit ballooned and out-of-control inflation ensued. The złoty began to stabilise in 1926 (chiefly due to significant exports of coal),<ref>{{cite book |author=Uniwersytet Łódzki |date=1957 |title=Zeszyty naukowe. Nauki humanistyczno społeczne |volume=Seria 1. Wyd. 5-7 |url=https://books.google.com/books?id=rfoPAAAAIAAJ&q=z%C5%82oty%201926%20w%C4%99gla |location=Łódź |publisher=Państwowe Wydawnictwo Naukowe |page=233 |oclc=5226662}}</ref> and was re-set on the dollar-złoty rate 50% higher than in 1924. Up until 1933, the złoty was freely exchanged into gold and foreign currency. Based on these developments, the Polish government made the decision to adopt the [[gold standard]] and maintain it for a significant period to attract global investors.<ref>{{cite book |last=Venken |first=Machteld |date=2021 |title=Peripheries at the Centre |location=New York |publisher=Berghahn Books |page=123 |isbn=978-1-78920-967-9}}</ref>

Under the occupation during [[World War II]], the Germans created an Emissary Bank (''Bank Emisyjny'') in [[Kraków]], as Polish bank officials fled to [[Paris]] in France.<ref>{{cite book |author=Anna Szelągowska |date=2009 |title=Instytucje rynku finansowego w Polsce |url=https://books.google.com/books?id=GUewAAAAIAAJ&q=bank%20emisyjny%20do%20pary%C5%BCa |location=Warszawa (Warsaw) |publisher=CeDeWu |page=22 |isbn=978-83-60089-62-0}}</ref> It started operating on 8 April 1940, and in May, old banknotes from 1924 to 1939 were overstamped by the new entity.<ref>{{cite book |last=Chałupski |first=Jerzy |date=2020 |title=Specjalizowany Katalog Monet Polskich |volume=2 |url=https://books.google.com/books?id=Dv_gDwAAQBAJ |location=Sosnowiec |publisher=Ridero |page=307 |isbn=978-83-8221-035-4}}</ref> Money exchange was limited per individual; the limits varied according to the status of the person. The fixed exchange rate was 2 złoty per 1 [[German reichsmark|Reichsmark]].<ref name="Zarys historii Polski w liczbach">{{cite book |editor=Cezary Kuklo |date=2012 |title=Zarys historii Polski w liczbach |location=Warszawa (Warsaw) |publisher=Zakład Wydawnictw Statystycznych |page=298 |isbn=978-83-7027-481-8}}</ref> A new issue of notes appeared in the years 1940–1941.<ref>{{cite book |author=Czesław Brzoza |author2=Andrzej Sowa |date=2006 |title=Historia Polski 1918-1945 |url=https://books.google.com/books?id=7v9oAAAAMAAJ&q=bank%20emisyjny%20nowe%20banknoty%201941 |location=Kraków |publisher=Wydawnictwo Literackie |page=563 |isbn=978-83-08-03845-1}}</ref>

On 15 January 1945, the [[National Bank of Poland]] was formed, and a new printing plant opened in [[Łódź]].<ref>{{cite book |last=Myślak |first=Ewa |date=2013 |title=Narodowy Bank Polski w systemie ustrojowym Rzeczpospolitej Polskiej |url=https://books.google.com/books?id=VRryCwAAQBAJ |location=Kraków |publisher=Wydawnictwo UJ |page=35|isbn=978-83-233-8898-2 }}</ref> The series II and III notes were designed by Ryszard Kleczewski and [[Wacław Borowski]]. The first three series were taken out of circulation in line with legislation signed on 28 October 1950, covering the introduction of a new złoty with a revived coinage system.<ref>{{cite book |author=Anna Żbikowska-Migoń |author2=Elżbieta Herden |author3=Krzysztof Migoń |author4=Marta Skalska-Zlat |date=2006 |title=Druki ulotne i okolicznościowe |url=https://books.google.com/books?id=3n_gAAAAMAAJ&q=28%20pa%C5%BAdziernika%201950%20banknoty |location=Wrocław |publisher=Wydawn. Uniwersytetu Wrocławskiego |page=147 |isbn=978-83-229-2766-3}}</ref>