The purpose of the issuance of the 4% Consolidation Loan of 1936 was to convert a number of state loans of the Second Republic. Some were subject to forced conversion (under the sanction of loss of interest - the 5% State Land Pension Series I of 1927, the 4% Bonus Investment Loan of 1928, the 3% Bonus Construction Loan Series I of 1930, the 5.5% Construction Loan Series II of 1934, the 5% State Perpetual Pension of 1934 and the 6% Investment Loan of 1935). Bonds of the 6% National Loan of 1934 were also accepted for voluntary conversion.
The lower denominations (50 zloty and 100 zloty) are among the popular ones, the 1,000 zloty denomination is already encountered less frequently.
