Kraks vejviser 1927 Handelsregister

DENMARKS BANKING AND MONETARY SYSTEM Monnayae et 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 aceordance with the Curreney Act of 23rd May 1873 Kr. 2480 is minted out of 1 Kg. fine gold (Kr. 1 --- 100 Øre). The relation between the gold valne of the unit of coinage in Denmark and those of the more important other countries will be seen from the appended table: Present valne o f ilie Danish Krone in foreign currencies:

Argentine..................... Austria......................... Belgiu m ....................... Brazil.......................... Bulgaria.......................

Ita ly ......................................... 1,389 Lire Japan ........................................ 0,54 Yen Latvia........................................ 1,389 Lat Lithuania................................... 2,68 Lit Mexico....................................... 0,54 Peso Norway..................................... 1,00 Krone P e ru ......................................... . 0,55 Sol Poland .................................... . 1,389 Zloty Portugal.................................. . 0,248 Escudo Roumania.............................. . 1,389 Leu Russia...................................... 0,52 Rubel Spa in ........................................ 1,389 Pesetas Sweden.................................... . 1,00 Krone Switzerland.............................. . 1,389 Francs Turkey..................................... . 6,10 Pjastre United States of America . . . . . 0,268 Dollar Uruguay ................................ . 0,259 Peso Venezuela.............................. . 1,389 Bolivar Yugo-Slavia.......................... . 1,389 Dinar

Canada......................... ........... 0,268 Dollar Chile............................ ........... 2,20 Pesos Colombia..................... ........... 0,268 Peso

Czechoslovakia........... Danzig.........................

Ecuador ....................... ........... 0,055 Condor England....................... ........... 0,055 Pound Esthonia....................... ........... 1,00 Kroon Finland ....................... France ......................... ........... 1,389 Francs Germany..................... ........... 1,125 Reiclismk. Greece......................... H ung a ry ..................... Iceland......................... ........... 1,00 Krone

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 J’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 builion held by the bank shall always cover at least one third of the notes in circulation. On the 23rd November 1926 notes had been issued to an amount of 331 miil. Kroner, while at the same time the builion reserves amounted to 225 mili. Kroner, or 67,6 °/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 curreney has been subject to fluctuation. In the course of last year the Krone recovered its par value, and it is expected that from the beginning of 1927 the obligation of the ”Nationalbanken” with regard to the gold exchange will again come into force. At the end of 1925 there were in all 192 p riv a te banks in Denmark many of which had a number of branches. Out of the total balance which amounted to 3.450 mili. Kr. in 1925, no less than 2.090 miil. Kr. were represented by the four leading banks, from which it will be seen that the country’s banking system is rather highly concentrated. By a Bank Act of 1919 the Danish banks were made subject to the special super­ vision of an appointed authority. \ \ Advertisements on the following pages!