Đorđe Vajfert
Encyclopedia
Đorđe Vajfert was a Serbian
industrialist of German
descent, Governor of the National Bank of Serbia
and later Yugoslavia
. In addition, he is considered the founder of the modern mining sector in Serbia.
Georg Weifert was born in Pančevo
, German
Banat
to a Danube Swabian family. From an early age Đorđe Vajfert worked with his father, Ignatz Weifert in Belgrade
, in brewing. Theirs was the first brewery in the Kingdom of Serbia
. He graduated from the Braumeisterschule in Weihenstephan
, near Munich
. Then he returned to Serbia and took over the brewery of his father, which he expanded. With the profits he bought a coal mine in Kostolac
, then a copper mine in Bor
, a Steinberg works at Zaječar
and finally a gold mine. With the proceeds from the mines, he was the richest man in Serbia and was considered the greatest industrialist of the future Yugoslavia
.
In 1890 Vajfert was appointed Governor of the National Bank of Serbia
. He served in this capacity from 1890 to 1902, and again from 1912 to 1914/1918. During this period he acquired a good reputation maintaining the value of the Serbian dinar
and in credit. After 1918, because of his good offices, Vajfert was appointed Governor of the National Bank of Yugoslavia. His best-known arrangement as Governor was the conversion of the Austro-Hungarian krone
into the new Yugoslav dinar
. This also led to great criticism, as the former Serbian dinar was exchanged 1:1 in the new dinar, the Austrian money into a 4:1 ratio - this led to substantial losses of property of those Yugoslavs who formerly lived in Austria-Hungary
.
Đorđe Vajfert was an important patron and supporter of humanitarian and cultural institutions. He donated his prized collection of ancient coins and his private library to the University of Belgrade
. In Pančevo
, from where his parents Ignatz and Anna originated, he left the Roman Catholic Church a small chapel known as Anina crkva (the Church of Anna), in memory of his mother.
Đorđe Vajfert died in 1937. The heir to his business empire was his nephew Ferdinand Gramberg. Since 2001, his portrait is depicted on the 1000 Serbian dinar note.
Serbs
The Serbs are a South Slavic ethnic group of the Balkans and southern Central Europe. Serbs are located mainly in Serbia, Montenegro and Bosnia and Herzegovina, and form a sizable minority in Croatia, the Republic of Macedonia and Slovenia. Likewise, Serbs are an officially recognized minority in...
industrialist of German
Germans
The Germans are a Germanic ethnic group native to Central Europe. The English term Germans has referred to the German-speaking population of the Holy Roman Empire since the Late Middle Ages....
descent, Governor of the National Bank of Serbia
Serbia
Serbia , officially the Republic of Serbia , is a landlocked country located at the crossroads of Central and Southeast Europe, covering the southern part of the Carpathian basin and the central part of the Balkans...
and later Yugoslavia
Yugoslavia
Yugoslavia refers to three political entities that existed successively on the western part of the Balkans during most of the 20th century....
. In addition, he is considered the founder of the modern mining sector in Serbia.
Biography
Pancevo
Pančevo is a city and municipality located in the southern part of Serbian province of Vojvodina, 15 km northeast from Belgrade. In 2002, the city had a total population of 77,087, while municipality of Pančevo had 127,162 inhabitants. It is the administrative center of the South Banat...
, German
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
Banat
Banat
The Banat is a geographical and historical region in Central Europe currently divided between three countries: the eastern part lies in western Romania , the western part in northeastern Serbia , and a small...
to a Danube Swabian family. From an early age Đorđe Vajfert worked with his father, Ignatz Weifert in Belgrade
Belgrade
Belgrade is the capital and largest city of Serbia. It is located at the confluence of the Sava and Danube rivers, where the Pannonian Plain meets the Balkans. According to official results of Census 2011, the city has a population of 1,639,121. It is one of the 15 largest cities in Europe...
, in brewing. Theirs was the first brewery in the Kingdom of Serbia
Kingdom of Serbia
The Kingdom of Serbia was created when Prince Milan Obrenović, ruler of the Principality of Serbia, was crowned King in 1882. The Principality of Serbia was ruled by the Karađorđevic dynasty from 1817 onwards . The Principality, suzerain to the Porte, had expelled all Ottoman troops by 1867, de...
. He graduated from the Braumeisterschule in Weihenstephan
Weihenstephan
Weihenstephan is a part of Freising north of Munich, Germany.Weihenstephan is known for:* the site of one of the three campuses of the Technische Universität München , namely the one for life sciences* the Fachhochschule Weihenstephan...
, near Munich
Munich
Munich The city's motto is "" . Before 2006, it was "Weltstadt mit Herz" . Its native name, , is derived from the Old High German Munichen, meaning "by the monks' place". The city's name derives from the monks of the Benedictine order who founded the city; hence the monk depicted on the city's coat...
. Then he returned to Serbia and took over the brewery of his father, which he expanded. With the profits he bought a coal mine in Kostolac
Kostolac
Kostolac is a small Serbian town on the Danube river in the Braničevo District. The remains of the Roman capital of the province of Moesia Superior Viminacium are located near Stari Kostolac some 2 km to the east of Kostolac. Kostolac is situated in the municipality of Požarevac...
, then a copper mine in Bor
Bor, Serbia
Bor is a town and municipality located in eastern Serbia, with one of the largest copper mines in Europe and it has been a mining centre since 1904, when a French company began operations there. It is the administrative center of the Bor District of Serbia...
, a Steinberg works at Zaječar
Zajecar
Zaječar is a city and municipality in the eastern part of Serbia. According to the 2011 census the town has a population of 36,830, and its coordinates are 43.91° North, 22.30° East...
and finally a gold mine. With the proceeds from the mines, he was the richest man in Serbia and was considered the greatest industrialist of the future Yugoslavia
Yugoslavia
Yugoslavia refers to three political entities that existed successively on the western part of the Balkans during most of the 20th century....
.
In 1890 Vajfert was appointed Governor of the National Bank of Serbia
National Bank of Serbia
National Bank of Serbia is the central bank of Serbia; its main responsibilities are the protection of price stability and maintenance of financial stability....
. He served in this capacity from 1890 to 1902, and again from 1912 to 1914/1918. During this period he acquired a good reputation maintaining the value of the Serbian dinar
Serbian dinar
The dinar is the currency of Serbia. An earlier currency also called dinar was used in Serbia between 1868 and 1918. The earliest use of the dinar date to 1214. Today's Serbian dinar is a continuation of the last Yugoslav dinar...
and in credit. After 1918, because of his good offices, Vajfert was appointed Governor of the National Bank of Yugoslavia. His best-known arrangement as Governor was the conversion of the Austro-Hungarian krone
Austro-Hungarian krone
The Krone or korona was the official currency of the Austro-Hungarian Empire from 1892 until the dissolution of the empire in 1918...
into the new Yugoslav dinar
Yugoslav dinar
The dinar was the currency of the three Yugoslav states: the Kingdom of Yugoslavia , the Socialist Federal Republic of Yugoslavia and the Federal Republic of Yugoslavia between 1918 and 2003. The dinar was subdivided into 100 para...
. This also led to great criticism, as the former Serbian dinar was exchanged 1:1 in the new dinar, the Austrian money into a 4:1 ratio - this led to substantial losses of property of those Yugoslavs who formerly lived in Austria-Hungary
Austria-Hungary
Austria-Hungary , more formally known as the Kingdoms and Lands Represented in the Imperial Council and the Lands of the Holy Hungarian Crown of Saint Stephen, was a constitutional monarchic union between the crowns of the Austrian Empire and the Kingdom of Hungary in...
.
Đorđe Vajfert was an important patron and supporter of humanitarian and cultural institutions. He donated his prized collection of ancient coins and his private library to the University of Belgrade
University of Belgrade
The University of Belgrade is the oldest and largest university of Serbia.Founded in 1808 as the Belgrade Higher School in revolutionary Serbia, by 1838 it merged with the Kragujevac-based departments into a single university...
. In Pančevo
Pancevo
Pančevo is a city and municipality located in the southern part of Serbian province of Vojvodina, 15 km northeast from Belgrade. In 2002, the city had a total population of 77,087, while municipality of Pančevo had 127,162 inhabitants. It is the administrative center of the South Banat...
, from where his parents Ignatz and Anna originated, he left the Roman Catholic Church a small chapel known as Anina crkva (the Church of Anna), in memory of his mother.
Đorđe Vajfert died in 1937. The heir to his business empire was his nephew Ferdinand Gramberg. Since 2001, his portrait is depicted on the 1000 Serbian dinar note.