Kraks Vejviser 1936 Handelsregister

289

MONETARY SYSTEM, MORTGAGE INSTITUTIONS, BANKS Systéme monétaire, Etablissements hypothécaires et Banques. — Geldverhåltnisse, Hypoteken- institute, Bankwesen. — Estado Monetario, Hipotecario y Bancario de Dinamarca. Monetary System. 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= 100 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 of the Danish Krone in foreign currencies: (The figures in brackets following the par rates indicate the approximate selling rate of exchange pr. ult. Nov. 1935. Fluctuations under one p. c. are not shown). Argentine............. Japan ................. ....... 0,54 (0,75) Yen Austria................... Latvia................. 1,389 (0,67) Lat Belgium............... Lithuania........... ........ 2,68 (1,29) Lit Brazil....................., . . . 2,24 (3,45) Milreis Mexico............... ....... 0,536 (0,76) Dollar Bulgaria................. Netherlands........ ....... 0,666 (0,32) Guiden Canada................... . . . 0,268 (0,22) Dollar Norway............. Chile....................... P e ru ................... Colombia............... . . . 0,275 (0,39) Peso Poland............... ....... 2,388 (1,16) Zloty ' * Czechoslovakia . . . . . . . 10,85 (5,28) Kroner Portugal............. Danzig................... . . . 2,39(1,15)Guiden Roumania......... ....... 44,84 (27,77) Léi Ecuador................. Russia........................ 0,052 (0,024) Tscher- England................. . . . £ 0,1,1 (0,0,11) wonetz Esthonia................. . . . 1,00 (0,80) Krone Spa in .......................... 1,389 (1,60) Pesetas F in land ................. Sweden................. France ................... Switzerland......... Germany............... Turkey................. Greece ................... . . . 20,66 (22.22) Drachme U. S. A................ Hungary ............... __ 1,532 (0,75) Pengo Uruguay ............. ....... 0,259 (0,48) Dollar Iceland................... Venezuela........... Ita ly ....................... . . . 5,091 (2,69) Lire Yugo-Slavia....... ....... 15,22 (9,48) Dinar Banks. 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 miil. 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. The obligation to exchange bank-notes with gold was suspended in September 1931, when England left the gold standard. On Nov. 23th 1935 notes in circulation amounted to 325 miil. Kr. with a bullion reserve of 124 miil. Kr. or 38 °/0. At the present time there are in all 167 p riv a te banks in Denmark many of which have a number of branches. Out of the total balance which amounted to 2924 miil. Kr. in 19 19