РАЗВОЈ ВАЛУТНИХ ПРИЛИКА У КРАЉЕВИНИ СРБИЈИ (1884–1914)
DEVELOPMENT OF CURRENCY OPPORTUNITIES IN THE KINGDOM OF SERBIA (1884–1914)

Summary/Abstract: The paper analyzes the development of currency opportunities since the introduction of the national currency – the dinar. With the establishment of the Privileged National Bank of the Kingdom of Serbia in 1884, as a joint stock company, the state intended to gradually find only gold-backed banknotes in circulation. However, unsettled political conditions, a poorly developed economy with a chronic lack of capital changed the original efforts. By issuing a 10 dinar banknote with a silver base in 1885, bimetallism was confirmed in Serbia. This banknote soon entered the circulation and made up a large part of the money supply. However, its optics influenced the increase in agia, which appeared as a surcharge when exchanging for money with a base in gold. Considering that the increase in the share also affected the convertibility of the dinar, the state marked the broadcasting institution as the main culprit. Based on the research of archival material and relevant literature, we conclude that the state is responsible for the growth of the bank, especially in the period from 1893 to 1903, with a constant budget deficit and unsettled political circumstances, but also the central bank with the amount of silver banknotes in circulation and hoarding of those in gold.

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