Austria - Ottnang

Ottnang am Hausruck is a picturesque market town in Upper Austria, in the Hausruckviertel region, which has a rich historical past. It originally belonged to the Duchy of Bavaria. It was transferred to Austria in the 12th century. In 1490, when the duchy was divided, it became part of Austria above Enns. It was invaded several times by Napoleon's troops in the early 19th century. The wars affected the economy and population of the region. In 1918, when the Austrian Republic was founded, it was included in Upper Austria. In February 1934, political clashes took place in Thomasroith, resulting in fatalities. In 1938, Austria joined the German Empire, and Ottnang became part of the Oberdonau gau. After World War II, it was returned to Upper Austria. The majority of the inhabitants are Roman Catholic, but Lutheran and Muslim communities are also present.

In Austria, especially in the city of Ottnang, an interesting financial phenomenon developed in the 1920s: the issuance of emergency money. These moneys were not official state currency, but local initiatives, temporary solutions to the shortage of money. Ottnang emergency money – 1920Type: Paper-based emergency money (Notgeld)Denominations: 10 and 20 HellerYear of issue: 1920Material: PaperPurpose: To alleviate the economic difficulties after World War I, especially the shortage of small changeThey often had ornate graphics, local motifs, and limited validity. After World War I, severe inflation and a shortage of small change developed. The central mint could not meet the needs of the population. Cities, such as Ottnang, printed their own money to keep the local economy running. Today, these emergency moneys are rare numismatic pieces, especially if they have survived in good condition.