The Estonian kroon is adopted.

to map

01. January 1928

In 1920s, Estonian politicians and financial leaders managed to substantially improve the economic state of the country, directing it from the east to west and reshaping the industrial policies.   

Estonia became a quite successful small agricultural country, which exported agricultural products to the western Europe. The last big step in reshaping the economy, was the replacing of the Estonian mark with the kroon, which was a much more stable currency. It went to use on January 1, 1928. The economic state remained good until 1930, when the Great Depression reached Estonia.

Source: Eesti ajalugu. VI, Vabadussõjast taasiseseisvumiseni. Tartu: Ilmamaa, 2005, lk-d 92-97.

(photos): Eesti Ajaloo Atlas lk 110


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