Danmarks Handel og Industri

Kronen is the unit. The Danish (Scandinavian) Krone is divided into 100 Øre. One kilo of line gold is coined into 2.480 Kr„ the fineness is 900, therefore 2.232 Kr. is equal to one kilo Standard gold. In Denmark gold is coined into pieces of 10 and 20 Kr. respectively. Token money of silver is coined into 2 Kr., 1 Kr., 25 Øre and 10 Øre pieces. Furthermore small change of the value of 5 Øre, 2 Øre and 1 Øre are made of bronze. The corner stone of the Danish Monetary building, however, is the Nationalbanken of Copenhagen, which is a limited company with a monopoly in the issue of notes. The bank was founded by Charter of July 4th 1818. By an Act passed on July 12th 1907 the said Charter has been renewed until July 31st 1938. In accordance with this Charter, which of late years has been subjected to various alterations, the bank is permitted to issue notes up to such an amount as may be required for the time being, on condition that the bank owns: 1) Precious Metals partly in the shape of lawful money and partly in gold bullion and gold coins issued by foreign countries which Metals must correspond to not less than one third of the notes in circulation and 2) that the remaining part of the notes in circulation is covered by safe marketable securities with respect to the nature and proportion of which further provisions have been made. Otherwise the financial transactions of the country are carried on through an extensive network of Banks and Savings Banks (see the list of banks with share capitals above 1 mill. Kr.). The principal banks — besides Nationalbanken — which all are domiciled in Copenhagen, are: Privatbanken in Copenhagen, founded 1857, share capital 45 mill. Kr. Den danske Landmandsbank, founded 1871, share capital 100 mill. Kr. Kjøbenhavns Handelsbank, founded 1873, share capital 50 mill. Kr. Kjøbenhavns Laane- og Diskontobank, founded 1895, share capital 24 mill. Kr. Revisionsbanken in Copenhagen, founded 1903, share capital 18 mill. Kr. The supreme organisation of the Danish mercantile world is 1 he Merchants' Guild of Copenhagen, which, on the strength of its statutory rights and its more than centennial traditions, enjoys considerable authority. From this time-honoured and recognised position, the Guild, in collaboration with the organisation for industry — the Chamber of Manufacturers —, has.