Hetman's overthrow. Bank-notes of the Ukrainian Directorate (14 November 1918 – June 1920) The defeat of Germany and Austria-Hungary in World War I resulted also in the break-up of Ukraine's occupation regime (Hetman Skoropadsky's government). On the night of 14 November 1918 in Bila Tserkva, the Government of the Ukrainian Directorate was formed with V. K. Vynnychenko, S. V. Petlyura and others at its head. Within a month, military forces of the Directorate occupied Kyiv. On 16 January 1919, the Government of the Directorate declared war on Soviet Russia. This action required issuing enormous sums of money. In Kyiv, the Directorate used reserves of bank-notes which were issued previously by the Central Rada's governments. The military campaign of the Directorate turned out to be unsuccessful, and the offensive of the Red Army forced the Directorate to leave Kyiv and to settle for some time in Vinnytsia (5 February 1919). There the Directorate used 3.6% State bonds for their purchasing power. Under the pressure of Soviet forces, the Directorate retreated still farther to Ternopil, and then Stanislav (now Ivano-Frankivsk) by the end of February 1919. Beginning in March 1919, one of the most unsuccessful series of bank-notes (5 hryvnias) was issued. Compiled from different elements of earlier Ukrainian banknotes, 5-hryvnia bank-notes were hastily printed on grey paper and contained an error in their text: гривна instead of гривень. Some bank-notes with such misprints entered circulation. The next bastion for the embattled Directorate was Kamanets-Podilsk, where it held out for almost a year and issued a few more bank-notes. First, in August 1919, banknotes were printed with the value of 100, 250, and 1000 karbovanets. For printing of these bank-notes, they used clichés (slugs of type) that had been prepared by the Hetman's government. One of the best bank-notes among all Ukrainian paper-money is a bank-note of 1000 karbovanets. This bank-note was issued in Kyiv and entered circulation on 13 November 1918. Printing was continued by the Directorate government in October 1919 at Kamyanets'-Podilsk, and in 1920 at Warsaw. The last issue is unknown. A bit later, lower denomination notes – 10 karbovanets (August 1919) and 25 karbovanets (October 1919) were put into use. The design of the 10 karbovanets (tank-note) was prepared in Hetman's period and their obverse had the large letters УД which designated the Ukrainian state (). The last bank-notes of the Directorate were prepared in Austria. The series