They Did Not Get a Penny': The Liquidation of the Teschen Savings Bank after Border-Drawing, 1920-1938

• In Event: The Cost of National Liberations: Post-Imperial Transitions in East Central European Business Realms

Abstract

The First World War in East Central Europe brought about border-changes that left many ordinary individuals separated from their life savings. Having deposited their money in banks that were suddenly situated in foreign countries, people faced challenges not only in accessing their funds but also in dealing with the frequent devaluation caused by the transition to new national currencies. In the divided city of Teschen on the Polish-Czechoslovak border, the Sparkasse, now situated in Poland, was set for liquidation, and its Czechoslovak clients were to be compensated. However, the absence of international treaties governing such financial operations resulted in a prolonged liquidation process, despite the local actors’ efforts to liberate these savings. Drawing on the internal savings bank records, as well as documents partaking to the local, regional, and national negotiation, this paper probes the small-scale economic impact of border–drawing.

Author

• Zora Piskacova, Harvard University