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 5,000 zloty denomination is very rare, with a dozen or so known.
