20 Marek Polskich

The Polska Krajowa Kasa Pożyczkowa — the Polish State Loan Bank — was a creation of the German occupation administration, established in 1916 to issue a new currency for the occupied Polish territories and sever their financial dependence on the Russian ruble. By 1919 the occupiers were gone, but the institution and its notes carried over into the early months of the restored Polish state, which had neither the time nor the infrastructure to immediately replace them. This note is a product of that administrative gap.

Warsaw printing of the marka series is confirmed, an unusual circumstance given how recently the city had been a front-line occupation zone.