The exhibition “The Litas: Traditions
and the Present”
From the re-establishment of the Lithuanian
state on 16 February 1918 to the very second half of 1922
paper banknotes -Ostmarken- issued by special credit institutions
- Eastern loan funds (Darlenkasse Ost), established on
the Eastern lands occupied by Germans during the First
World War, remained in circulation on the territory of
Lithuania.
Although the national currency introduction
issue was considered in 1919, it was only on 9 August
1922 that the Constituent Seimas adopted the Law on the
Currency Unit, proclaiming the introduction of the gold-backed
currency-litas. On 11 August 1922 the Seimas adopted the
Law on the Bank of Lithuania. Therefore, the introduction
of a new currency was entrusted to the Bank of Lithuania.
On 29 August 1922 a contract on the production of litas
was concluded with A. Haase’s Printing House in Prague.
Samples of one-side and two-side prints and banknote line
patterns used by this printing house for the production
of 16 November 1992 issue litas banknotes were displayed
in the exhibition. Prior to the introduction of permanent
currency to be printed by A. Haase’s Printing House, provisional
banknotes and coins were urgently produced in three weeks.
They were manufactured by Oto Elsner printing House in
Berlin and bore the date of 10 September 1922. The exhibition
displayed interim currency of 6 denominations: 1, 5, 20,
50 cents and 1, 5 ltas. They were put into circulation
on 2 October 1922, and on November 1922-March 1923 permanent
litas banknotes and cents appeared in circulation. The
exhibition “ The Litas: traditions and the Present” arranged
by the Bank of Lithuania Museum exposed all denominations
banknotes dated 16 November 1922 and 1,2, 5 cent banknote
designs created by A. Varnas. The exhibition also presented
1925-1926 issue 500 and 1000 litas banknotes printed by
the English company “ Bradbury, Wilkinson & Co.Ltd.”
and banknote designs of the same denominations created
by V. Jomantas.
On 20 June 1924 The Seimas adopted the Law
on Coins. This law granted an exclusive right to the State
Treasury to mint and put into circulation metal coins.
They were struck in the Royal Palace of Coins” Royal Mint”
of England and the English company” King’s Norton Metal
Works”. A contract for minting of bronze coins with this
company was displayed in the exhibition, as well. Coins
appeared in circulations in the year 1925. 1936-1938 issue
coins were struck in Kaunas. Their author was a sculptor
J. Zikaras.
Later issues litas banknotes (designed by
A. Ţmuidzinavičius and A. Galdikas) were printed in the
same English company “ Bradbury, Wilkinson& Co. Lit”.
The 10 February 1938, 10 Litas banknotes bearing A. Smetona’s
portrait and the Independence Act on their front and the
Council of Lithuania on their back were not issued.
After Lithuania’s annexation on 15 June
1940, the Bank of Lithuania was turned into a Lithuanian
national office of the USSR State Bank. Starting with
25 March 1941 litas circulation was prohibited. Exhibited
documents evidenced, that following 18 February 1941 Order
of the Chairman of the USSR State Bank, a litas disintegration
Commission was formed. On 1-10 April 1941. This Commission
burnt in central heating furnaces of the former Bank of
Lithuania all litas notes safe-kept in its vaults.
On 18 May 1989, still prior to the restoration
of independence, the Supreme Council of the Lithuanian
SSR approved the Law on the Fundamentals of Economic Independence
of the Lithuanian SSR”, which provided for the own monetary
and credit system. On 14 December 1989 a tender on the
preparation of litas and cents designs was announced.
A French company “ Francois Charlers Obenthur” was selected
for the printing of litas. Exhibited for the first time
were litas banknote designs bearing graphic elements created
by the Lithuanian artists R. Miknevičius, L. Pocius, G.
Jonaitis, A. Mandeika, R. Bartkus, J. Tolvaiđis, R. Valantinas.
These designs were given to the mentioned company in 1990.
Unfortunately, the contract was cancelled. With the establishment
of the Bank of Lithuania on 1 March 1990 and restoration
of Lithuania’s independence on 11 March the same year,
the preparation of the own currency introduction became
more active. In a Government Commission meeting it was
decided to print litas in the USA company “US Banknote
Corporation”. On 1 October 1991 the first batches of printed
litas were shipped to Lithuania.
Under complicated economic conditions the
Bank of Lithuania, seeking to protect the Lithuanian commodity
market from the flow of depreciating roubles, in the summer
of 1991 put into circulation universal coupons (special
purchase cards), which were used together with roubles
to purchase high demand industrial goods. The first universal
coupon (bonds) proofs produced in Kaunas “ Spindulys”
printing house were exposed in the exhibition. On 1 May
1992 talonas - substitutes for rouble monetary units were
placed into circulation. They circulated alongside roubles.
One rouble was equaled to one talonas. On 16 September
1992 the Litas Committee decided to introduce provisional
currency talonas and withdraw roubles from circulation
on 1 October 1992. Talonas- the national monetary unit-
became the only legal tender in Lithuania. The 1992 issue
1, 10, 50, 100, 200, 500 talonas circulated alongside
the 1991 issue universal coupons. They were designed by
the artists G. Jonaitis, R. Miknevičius, J. Tolvaiđis,
R. Valantinas. All 1991-1993 issues talonas denominations
and their printing plates, talonas prints approved by
E. Ţukauskas and R. Visokavičius signatures were exposed
in the exhibition. The approved print of 5 talonas denomination
demonstrated in the exhibition was not issued.
By the 14 June 1993 Litas Committee resolution,
litas and cents were put into circulation on 25 June the
same year. It took more than 50 years interval to have
litas back into circulation. All denominations litas specimens
printed in the “ US Banknote Corporation”, the Thomas
De La Rue and Company Limited” in England, and in the
German company “ Giesecke & Devrient” bearing the
dates of 1991, 1993, 1994, 1997, as well as a present
of the above mentioned English company to the Bank of
Lithuania - 5, 20, 100, 1000 litas denomination banknotes
that circulated in an inter-war Lithuania and 1993-1994
issue 1,2,5 litas denomination prints were dispayed in
the exhibition.
A lot of the exhibition space was devoted
to the Lithuanian Mint which started its activities in
1992. After the restoration of independence the first
Lithuanian circulation coins (10, 20, 50 denomination
cents and 1, 2 denomination litas) were struck in the
Birmingham Mint in England. On 30 September 1992 the Lithuanian
Mint commenced minting circulation coin cents 1, 2, 5
denomination. Gypsum models of these coins approved by
the signature of A. Misevičius, Minister of the Finance
of Lithuania, and created by P. Garđva, as well as tender
models of the coins designed by the artists R. Eidëjus,
R.J. Belevičius, A. Ţukauskas were demonstrated in the
exhibition.
In July 1993 the Lithuanian Mint issued
the first 10 litas coin devoted to the commemoration of
the 60th anniversary of Steponas Darius and Stasys Girënas
flight across the Atlantic Ocean (designed by P. Garđka).
Gypsum, rubber, epoxy models and dies of this coin were
also in the exposition. It also demonstrated a gypsum
model (designed by P. Gintalas) of the first 50 litas
denomination silver coin “ The 1994 Olympic Winter Games
in Lillehammer”. The coin was not issued. All commemorative
and circulation coins of later issues, their gypsum models,
including a commemorative copper/ nickel and gold coins
devoted to commemorate the 75th anniversary of the Bank
of Lithuania and the Litas (designed by R. Eidëjus) were
also presented in the exhibition.
The exhibition was arranged from exhibits
held in the Bank of Lithuanian Museum and the Cash Department.
