!!!Schilling, Währung

Schilling (S, ATS), currency of the Republic of Austria until December 
31, 1998; replaced the previous currency, the "Krone", in 
the wake of  Inflation after the First World War (ATS 1 = 10,000 
Kronen) and was introduced officially on December 20, 1924, effective 
as of January 1, 1925, by the Schilling Act (ATS 1 = 100 
Groschen). Originally the Schilling was supposed to be subdivided into 
100 "Stueber" instead of 100 Groschen. Thanks to effective 
monetary policies the Schilling remained a stable currency during the 
First Republic (nicknamed the "Alpendollar"). After 
Germany´s annexation of Austria in 1938, the Schilling was 
subjected to an unfavourable exchange rate of ATS 1.50 S 
= 1 German Reichsmark. In 1945 the Allies issued Schilling 
banknotes, and in the first currency reform of November 30, 1945 the 
Schilling was declared legal tender in Austria (1 German 
Reichsmark = ATS 1); only 150 German Reichsmarks could be 
exchanged per person, and the rest was placed in savings accounts. A 
second currency reform (November 19, 1947), which brought with it a 
devaluation of the Schilling by one-third and a partial tax on savings 
accounts levied by the federal government, laid the cornerstone for 
economic development in the Second Republic.  Money.

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In 1928-1937 Austria issued commemorative Double Schilling coins and 
minted ATS 25 and ATS 100 "Bundesgoldmuenzen" ("federal 
gold coins"). In addition to ATS 1, ATS 2, ATS 5, ATS 10 and ATS 
20 coins, commemorative coins in gold in silver with a nominal value 
of ATS 25, ATS 50, ATS 100, ATS 500 and ATS 1,000, as well as special 
commemorative coins and gold bullion coins ("Vienna Philharmonic 
Orchestra" with a nominal value of ATS 200, ATS 500, ATS 1,000 
and ATS 2,000, have been minted during the Second Republic. Bank notes 
include ATS 10, ATS 20, ATS 50, ATS 100, ATS 500, ATS 1,000 and ATS 
5,000 bills.

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On January 1, 1999 the  Euro replaced the Schilling, at first only as 
an accounting unit and bank money; Schilling coins and banknotes will 
probably be discontinued from January 1, 2002 and replaced by Euro 
coins and banknotes.

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"Schilling" has been used as the name for coins in different 
European countries since the Middle Ages. Its original meaning 
corresponded only to a unit of counting (ATS 1 = 30 pieces, 
or 30 pfennigs). in Latin documents it corresponds to the 
"solidus"; however, there is no connection to the gold coin 
of late Roman Antiquity which also bore this name.

!Literature
K. Bachinger and H. Matis, Der oesterreichische Schilling, 
Geschichte einer Waehrung, 1974.


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