Sub-Fonds - Financial Reconstruction of Hungary (Office of the Commissioner General at Budapest)

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Financial Reconstruction of Hungary (Office of the Commissioner General at Budapest)


  • 1923-1929 (Creation)

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When the problem of the financial reconstruction of Hungary arose in 1923, it was dealt with in a similar way as in Austria. The financial reconstruction of Hungary started more or less one year after the financial reconstruction of Austria.

Once more the Council of the League of Nations and its advisory body, the Financial Committee were concerned with analysing Europe's post-war financial disorder, and studying and carrying out plans of financial recovery. This Financial Committee, which depended on the Economic and Financial Section, was founded at the Brussels International Financial Conference of 1920 organized to solve the problem of the world financial crisis.

An American Commissioner General was appointed in Budapest, and within one year, the Hungarian budget showed a credit balance. Ten million pounds sterling was loaned to the country by the League of Nations. The office of the Commissioner General ended its work in 1926 and the Loan Control Committee (reconstruction loan: Loan Trustee Service) was maintained until 1929, as it was in Vienna.

Although the financial reconstruction of Hungary was simpler than that of Austria, the world depression, which began in 1929, has naturally compromised it.

Archival history

Since the case of Hungary was simpler than that of Austria, the files of the office of the Commissioner General in Budapest are not as numerous as those of Vienna. These files were sent to Geneva in 1929, as well as the files of the Loan Control Committee (Loan Trustee Service).

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      Protection period to: 1989-12-31

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