THE ROLE OF MILAN HODŽA IN SLOVAK COMMERCIAL BANKING (1918 – 1938)

This is a study of so far unknown facts about the activities of Milan Hodža in the financial sector of Czechoslovakia from 1918 until 1938. Before World War I, Hodža was trying to establish a strong Slovak bank in Budapest, but failed. This period of his Professional endeavours has already been extensively documented. However, only very limited attention has been paid to his similar activities in the newly founded Czechoslovakia. The available information is only about his screening of the market situation. Deeper examination is undertaken by the author, and shows that Hodža put a significant effort into pressuring the banks to merge. His tactic included extortion, corruption and bribery, even undemocratic governmental decisions. Between 1918 and 1938, Hodža managed to create a central monetary institution of public finances, and subordinated it to function in line with the economic interests of his own political party.