ALL OF AUGUST

Professionally painted

The artistic medium of watercolor tends to conjure up images of soggy papers with run-together colors brought home from school. See watercolors done right at “Culhaven Studios Presents,” an exhibit by award-winning painter Suzanne Binnie, on display through August at the Nashua Public Library at 2 Court St. The exhibit will feature watercolors of animals, birds and flowers, as well as some mixed media pieces that incorporate watercolor, rice paper, ink and Zentangle.

“Culhaven Studios Presents” can be viewed during regular library hours. For more information, call 589-4600 or visit www.nashualibrary.org.

WEDNESDAY

Currency in crisis

If you were going to the grocery store in Hungary in July 1946, you would have had to time your trip so that prices would still be the same when you got there. During that month, Hungary experienced the most extreme monthly inflation rate on record – 41.9 quadrillion percent, which translated to prices doubling about every 15 hours.

The economy began to stabilize today in 1946, when the hyperinflated pengo was replaced by the forint. At this time, one forint was equivalent to 400 octillion pengo. To give you an idea of how severe the situation was, one U.S. dollar was in turn equivalent to 11.74 forints.

Before World War I, Hungary was part of the Austro-Hungarian Empire and used the Austro-Hungarian krone as its currency. When the empire and its bank were dissolved after the war, Hungary had to issue its own currency, the Hungarian korona. The korona soon had to be replaced due to hyperflation.

Once the korona had been stabilized with a loan from the League of Nations, the pengo became Hungary’s new currency Jan. 1, 1927. For a few years, the pengo was the most reliable currency in that part of Europe. And then, the combined effects of the Great Depression and World War II put the Hungarian economy through the wringer.

In spite of the government’s best efforts, inflation soared out of control, necessitating the production of million and billion pengo notes, with circulating denominations as high as 100 million billion pengo (about $.20 at the time).

The adopengo was introduced Jan. 1, 1946 for tax and accounting purposes, but was soon printed into certificates that could be used in place of currency. At first, the adopengo was equal to one pengo, but the adopengo, too, suffered inflation. By July 31, 1946, one adopengo was equal to two sextillion pengo.

With all smaller bills essentially worthless, the adopengo became the dominant currency. Once the forint was introduced, pengo and adopengo notes alike were discarded as garbage. Today, the rejected currency has value as a historical curiosity and to collectors.

THURSDAY

Dig that jive

Nothing sets toes tapping like a swinging big band. Enjoy everything from early standards to the best of the modern swing charts at a free performance by the Compaq Big Band at 7 p.m. on the plaza at the Nashua Public Library at 2 Court St. The band’s repertoire spans eight decades and encompasses instrumentals and horn features, as well as vocal numbers popularized by such greats as Frank Sinatra and Ella Fitzgerald.

In the event of rain, the concert will be held in the library’s Music/Art/Media Wing. Bring a blanket or lawn chair and a picnic to enjoy. For more information, call 589-4610 or visit www.nashualibrary.org.

SATURDAY

Art in action

To view an artist at work, you usually have to visit the artist at his or her private studio. See numerous creative types demonstrating their specialties in one place at the Uncommon Art on the Common Festival from 10 a.m.-4 p.m. along Main Street in Goffstown.

More than 30 New Hampshire artists, including Nashua’s Barbara Lester, will show and sell their work, which ranges from oils and pastels to jewelry and stained glass. Many artists will be producing new works throughout the day, giving you a chance to see the creative process in action.

The festival will be held rain or shine. For more information, visit www.goffstownmainstreet.org or call 497-9933.

The Week in Preview (by Teresa Santoski) is equivalent to about 250 octillion pengo, or a little more than half a forint. Know of an event worthy of this space? Call 594-6466 or email tsantoski@nashuatelegraph.com.