Kraks Vejviser 1937 Handelsregister

291

MONETARY SYSTEM, MORTGAGE INSTITUTIONS, BANKS Systéme monétaire, Etablissements hypothécaires et Banques. — Geldverhaltnisse, Hypotheken- 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 Curreney Act of 23rd May 1873 Kr. 2480 is minted out of 1 kg. fine gold (Kr. 1— 100 Øre).

Value of the Danish Krone in foreign currencies per medio Nov. 1936:

Argentine............... Austria................... Brazil..................... Bulgaria................. Canada...................

Japan ................... . . . . 0,75 Yen

Latvia................... Lithuania............. Mexico................. Netherlands......... Norway............. . P e ru ..................... Poland ................. Russia................. Spa in ................... Sweden................. Switzerland......... Turkey................. U. S. A................ Uruguay ........... Venezuela.........

Belgium................. . . . 1,29 Belgas

Chile....................... . . . 3,85 Pesos Colombia............... . . . 0,38 Peso Czechoslovakia . . . . . . . 6,09 Kroner Danzig................... . . . 1,15 Guiden England................. . . . Jg 0,0,11

Portugal...................... 4,87 Escudo Roumania.......... ....... 28,57 Léi

Ecuador................. Esthonia................. F in land ................. Germany............... Greece................... H unga ry ............. Ita ly .......................

F rance ................... . . . 4,66 Francs

Iceland.................... . . . 0,99 Krone

Yugo-Slavia . . . . ....... 9,26 Dinar

Banks. In Denmark the exclusive right of issuing bank-notes is reserved to Danmarks Na­ tionalbank (The National Bank of Denmark). In 1813 this bank was established as a State bank under the name ”Rigsbanken” ; it was subsequently conWrted in 1818 into a private joint stock bank under the name ”Nationalbanken” in Copenha^en, and re-organized in 1936 by Act of Parliament under its present name: Danmarks Nationalbank, on basis of a Capital fund of 50 million Kroner paid in by the State. \ According to law the bullion held by the bank shall always cover at least one fourtli of the notes in circulation. The obligation to exchange bank-note^ with gold was suspended in September 1931, when England left the gold standard. V. On Nov. 14th 1936 notes in circulation amounted to 348 mili. Kr. with a bullion reserve of 118 mili. Kr. or 34 °/0. At the present time there are in all 165 p riv a te banks in Denmark many of which have a number of branches. Out of the total balance which amounted to 2995 mili. Kr. in