Kraks Vejviser 1931 Handelsregister

DENMARKS BANKING AND MONETARY SYSTEM Systéme monétaire & organisation des banques du Danemark. — Danemarks Geld- und Bankwesen. — Estado Monetario y Bancario de Dinamarca. Denmark has the same monetary system as Norway and Sweden with gold as basis, and for over fifty years a monetary union has existed between these three countries. In accordance with the Currency Act of 23rd May 1873 Kr. 2480 is minted out of 1 Kg. fine gold (Kr. 1 1 0 0 Øre). The relation between the gold value of the unit of coinage in Denmark and those of the more important other countries will be seen from the appended table: Value o f the Danish Krone in foreign currencies: (The Figures in brackets foliowing the par rates indicate the approximate selling rate of exchange pr. ult. Nov. 1930. Fluctuations under one p.Ct. are not shown). Argentine..................... 0,632 (0,78) Paper Peso Austria........................ 1,90 Schillings Japan .......................... 0,54 (0,54) Yen Latvia.......................... 1,389 (1,39) Lat Lithuania........... . 2,68 Lit

Belgium....................... 1,928 (1,92) Belgas Brazil.......................... 0,49 (2,81) Milreis Bulgaria....................... 1,389 (36,93) Leva Canada......................... 0,268 (0,27) Dollar Chile............................ 2,20 (2,19) Pesos Colombia..................... 0,268 (0,28) Peso Czechoslovakia........... 8,97 (9,02) Kroner Danzig........................ 1,376 (1,38) Guiden Ecuador....................... 0,55 (1,35) Sucres England....................... 0,055 £ Esthonia....................... 1,00 Krone F in land ........................ 10,64 (10,63) Finmark F rance .......................... 6,840 (6,81) Francs Germany..................... 1,125 (1,12) Reichsmk. Greece......................... 1,389 (20,65) Drachme H unga ry ...................... 1,532(1,53) Pengo Iceland........................ 1,00 (1,22) Krone Ita ly ............................ 5,091 (5,11) Lire

Mexico........................ 0,536 (0,58) Dollar Netherlands................. 0,666 (0,66) Guiden Norway...................... 1,00 Krone P e ru ............................ 0,056 (0,086) £ Poland........................ 2,388 (2,39) Zloty Portugal...................... 0,248 (5,96) Escudo Roumania................... 1,389 (45,05) Léi Russia......................... 0,052 Tscherwonetz Spa in .......................... 1,389 (2,41) Pesetas Sweden........................ 1,00 Krone Switzerland................. 1,389 (1,38) Francs Turkey........................ 6,10 (56,43) Pjastre U. S. A........................ 0,268 (0,267) Dollar U ruguay ..................... 0,259 (0,34) Dollar Venezuela................... 1,389 (1,48) Bolivar Yugo-Slavia............... 1,389 (15,13) Dinar

In Denmark the right to issue bank-notes is reserved to the "Nationalbanken” in Copenhagen. After the financial collapse in 1813 this bank was established as a State bank under the name "Rigsbanken” but in 1818 it was converted into a private joint stock bank under its present name with a share Capital of 27 mili. Kroner. It is under the management of five directors two of whom are appointed by the Crown. According to the last octroi granted the Bank the bullion held by the bank shall always cover at least one third of the notes in circulation. At the present time notes has been issued to an amount of about 320 mili. Kroner, while at the same time the bullion reserves amounts to about 180 mili. Kroner, or more than 56 °/0. On the outbreak of the great war in 1914 the obligation to exchange bank-notes with gold was suspended the same as in other countries, and for some years the note currency has been subject to fluctuation. From the beginning of 1927 the obligation of the "National­ banken” with regard to the gold exchange has again come into force. At the present time there are in all 179 p riv a te banks in Denmark many of which have a number of branches. Out of the total balance which amounted to 2941 miil. Kr. in 1930, no lessxthan 1497 mili. Kr. were represented by the three leading banks, from which it will be seen that the country’s banking system is rather highly concentrajjed. By a Bank Act of 1919 the Danish banks were made subject to the special super­ vision of an appointed authority.

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