Kraks vejviser 1928 Handelsregister

DENMARKS BANKING AND . MONETARY SYSTEM Systéme monétaire & Organisation des Banques du Danemark. — Danemarks Geld- un<£ Bankwesen. — Estado Monetario y Bancario de Dinatnarca. i i 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: Present value o f the Danish Krone in foreign currencies: (The Figures in brackets following the par rates indicate the approximate selling ra te of exchange pr. ult. Nov. 1927. Fluctuations under one p.Ct. are not shown).

0,54 (0,58) Yen 1,389 Lat 2,68 Lit 0,536 (0,56) Dollar 0,664 Guiden 1,00 Krone 0,056 (7,30) £ . 1,389 (2.39) Zloty 0,248(5,37) Escudo 1,389 (43,29) Léu 0,052Tscherwonetz 1,389(1,61) Pesetas 1,00 Krone 1,389 Francs 6,10 (51,55) Pjastre* 0,268 Dollar 0,259 Dollar 1,389 Bolivar 1,389 (15,20) Dinar

Japan ..................................... Latv ia..................................... L ithuan ia............................... M exico................................... Netherlands........................... N o rw a y ................................. P e r u ....................................... P o la n d ................................... Po rtuga l................................. R o um an ia ............................. R u s s ia ................................... S p a in ..................................... Sweden................................... Sw itzerland........................... Tu rkey ................................... United States of Am erica. Uruguay ............................... V enezue la ............................. Y ugo -S lav ia .........................

.. 0,278 (0,62) Peso .. 1,90 Schillings .. 0,278 (1,91) Belgas .. 0,49 (2,23) Milreis .. 1,389 (36,90) Lev .. 0,268 Dollar .. 2,20 (2,16) Pesos .. 0,268 (0,273) Peso .. ca. 9 Kroner .. 1,389 Guiden .. 0,55 (1,32) Sucres .. 0,055 £ .. 1,121 Mark .. 10,64 Finmark .. 1,389 (6,76) Francs .. 1,125 Heichsmk. 1,389 (20,16) Drachme •. 1,53 Pengo .. 1,00 (1,21) Krone • • 1,389 (4,89) Lire

Argentine........ A u stria ............ Belgium .......... B ra z il.............. Bulgaria.......... Canada............ Chile................. Colombia........ Czechoslovakia D an z ig ............ E cu ado r.......... E ng land .......... Esthonia.......... F i n la n d .......... France ............ G erm any ........ G re e c e ............ H u n g a r y ........ Ice land ............ I t a l y ................

In Denmark the right to issue bank-notes is reserved to the "Nationalbanken” im 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 builion held by the bank shall always cover at least one third of the notes in circulåtion. At the present time notes has been issued to an amount of about 325 mili. Kroner, while at the same time the bullion reserves amounts to about 200 mili. Kroner, or more than 60 °/0. Bie outbreak of the great war in 1914 the obligation to exchange bank-notes wi gold was suspended the same as in other countries, and for some years the note currency “ T subject to fluctuation. From the beginning of 1927 the obligation of the ”National- en with regard to the gold exchange has again come into force. At the end of 1926 there were in all 189 p r i v a t e banks in Denmark many of which had a number of branches. Out of the total balance which amounted to 3.000 miil. Kr. in 1926, no less than 1.700 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. \

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