Denmark Agriculture Commerce

The Thorvaldsen Museum, Copenhagen value of state property as of March 31st 1918 amounted to nearly $300,000,000. Of this, $92,060,000 represented the value of state railways which include more than one-half the 2,600 miles of railroad in the country. The telegraph sys- tem, which is also owned by the state, was carried at a value of $4,670,000. Debt In 1913 the Danish national debt was relatively small, amounting to only about $33.40 per capita. Of a total debt of $95,579,250 in that year, $22,606,340 was internal and $72,972,910 external. The country’s loans issued in normal times bore the comparatively low rates of interest of 3^/2 pei cent and 4 per cent. In this connection it is interesting to note that, as a result of the unusual position held by the Danish capital, the loans of Copenhagen were normally sold to bankers on nearly as low a basis as the loans of Denmark. In order to meet the demands placed on the country by the war and the reconstruction following the signing of the armis- tice, the amount of internal obligations of the nation was greatly increased. As of JVIarch 31st 1919 the total debt 27