Władysław Grabski's monetary reform established the Bank of Poland acting as an issuing bank: The Bank of Poland was founded as a joint stock company, which guaranteed its independence from the government and the state treasury. The Act also abolished the Polish National Savings Union which had acted as an issuing bank. Its functions were taken over by the Bank of Poland. Stanisław Karpiński became the first president of the Bank of Poland. On January 14, the organizing committee of the Bank of Poland was established, and on January 26, the sale of the bank's shares began. Payments could only be made in foreign currencies and in gold. On April,15, during the first shareholders' meeting, the Bank of Poland Joint Stock Company was established.
The Executive Order on the Reich Tax Law (Nuremberg laws ) forbade Jews to serve as tax consultants.(The Nazis decreed an overwhelming number of laws to strip Jews of all civil and human rights. It was the first step in carrying out the "Final Solution".)
General Stanislaw Skwarczynski officially became leader of the Camp of National Unity (OZN). The political party was founded by sections in the leadership of the Sanacja movement. This party advocated authoritarian rule, and that national interest superceded parliamentary democracy. The OZN adopted 13 theses on the Jewish question, based on the Nuremberg laws and labelled Jews as a foreign presence that should be deprived of all civil rights and ultimately expelled altogether.
The Soviet Union responded to the Polish declaration of January 5 with a statement through TASS. "......The Soviet government has repeatedly declared that it stands for a strong independent Poland and.....friendly Polish-Russian relations founded on mutual respect....The Soviet government disputed Polish territorial claims and insisted that the Soviet-Polish border had been determined through "the plebiscite carried out in 1939 on a broad democratic basis". The statement also accused the Polish government-in-exile of being "incapable of establishing friendly relations with the USSR, and has also shown itself incapable of organizing active resistance against German invaders inside Poland. Moreover, by its erroneous policy it has often played into the hands of German invaders......"