Collecting Value(s). Money in East Prussia and Lithuania, 1914–1924

The stability of money and its recognised value – which enables us to use it for buying, selling, or saving – is something we take for granted. However, in times of upheaval, these familiar attributes of money disappear. How do (or could) we behave when there is a shortage of money? What (if anything) do we use in its place, and why do these substitutes seem valuable to us? Moreover, w What should we do if there is so much money that its value becomes absurdly low?

This joint exhibition presented by the Money Museum of the Bank of Lithuania and the Museum of the History of Lithuania Minor invites visitors to consider these questions in the context of World War I (1914–1918) and the early post-war years. In this period, the existing global political order collapsed and nation-states such as Lithuania emerged. It was also a time when military necessity prompted the search for solutions to ensure the supply of money, the lifeblood of the economy. Here, the German Empire demonstrated exceptional creativity; its system of virtually unlimited money issuance was adopted in Lithuania in the autumn of 1915. Having regained its independence in 1918 and facing pressure from the trying circumstances of the day, Lithuania temporarily legalised provisional German money as its first national currency. This decision meant that Lithuania experienced post-war inflation and currency devaluation alongside Germany, so both countries had to find ways to get rid of a paper money that was losing its value daily and to introduce stable currencies.



Various monetary notes – such as Notgeld, war money, credit union notes, and coupons – became symbols of these extraordinary times. Initially issued as instruments intended to manage the shortage of cash, over time they became not only (and not so much) a financial instrument, but also a cultural phenomenon. Modest wartime designs were replaced by colourful, collector-oriented serial Notgeld, which, as post-war inflation gained momentum, gave way to banknotes worth millions or even billions of marks. The diversity, unusual nature, and circumstances surrounding the issuance of this paper money gave rise to the phenomenon of its collection. The Collecting Value(s) exhibition therefore features various monetary notes, most of which were issued in East Prussia. This offers a glimpse into complex aspects of monetary policy through the eyes of the public of the time, while also revealing the representation of a region culturally and ethnically close to Lithuania through the medium of paper money, reflecting issues of transience and uncertainty.
 
Exhibition curator Karolis Tumelis
Exhibition coordinators Asta Grušelionienė, Dmitrijus Papariga
Designer Inga Varnelė

Layout

Translation ALUMNUS, UAB (EN), METROPOLIO VERTIMAI, UAB (DE)

Editors Eugenija Vilkauskienė (LT), Eglė Bangaitienė (EN), Kopis, MB (EN), METROPOLIO VERTIMAI, UAB (DE)

The exhibition features items from the collections of the Money Museum of Lietuvos bankas, the History Museum of Lithuania Minor, the National Museum of Lithuania, and the personal collections of Dainius Makauskas, Eugenijus Ivanauskas, and Karolis Tumelis.