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28009_1930-1934

28009_1930-1934

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Published by: fedfraser on May 04, 2014
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JULY,
 1930
FEDERAL RESERVE BULLETIN
439
B L NCE SHEET
 OF THE
 B NK
 OF
 L TVI
AS OF
JANUARY
 1
1930
RESOURCES
Stock
 of
 gold:Foreign gold coinGold bullion belonging
 to
 the
 bank, abroad._.Gold bullion deposited
 by
 the
 exchequerForeign currency:Foreign silver coinF9reign currencyDue from foreign banksLatvian State money: Silver money, Treasurynotes
 and
 small coin
 _.
Postal checksShort-term bills:Discounted foreign drafts..Discounted billsDiscounted bills with branches
 and
 corre-spondentsSpecial currency account secured
 by
 billsSpecial current accounts
 and
 loans:Against obligations on real property and othervaluesAgainst agricultural
 and
 industrial plantAgainst goodsBondsLats(in thou-sands)
Dollars
 i
 in thou-sands)
1,3307,870
14,
 733
1,519
2,843
23, 933
 14,61938756
48,
 697
49,
 491
18,
 446677
6,
 73858,
 688
1,463
27, 888
7146
9,3999,552
3,
 560131
1,300
11,
 327
282
5,382
94,
 777
31,
 614914
20, 40852, 935
18,
 292
6,102176
3,939
10,216
8,0681,557
BALANCE SHEET
 OF THE
 BANK
 OF
 LATVIA
 AS OF
JANUARY
 1, 1930—Continued
RESOURCES—continued
Inventory
 and
 real property:Inventory
 .
Real property..
 _._
Other resources
 _.
Total resources
LIABILITIES
Bank notes issued
Deposits:Net
 demand depositsFixed depositsCurrent
 accounts:
Current accountsCurrent accounts
 not
 bearing interestCurrent accounts
 in
 foreign currency
Due
 to
 banksExchequer...
Capital:
Capital paid
 up
Surplus
 . _
Special reserve fund..Profit
 and
 loss:
 Net
 profit
 for
 1929.
 .
Other liabilitiesTotal liabilitiesLats
(in
 thou-sands)
305381
686
2,728
251,
 742
48, 464
11,
 207
4,187
15,
 395
50, 989
6,843
2,108
1,
 265
61,
 20693,
 71817,010
3,
 662
3,
 500
24,
 172
 i,
 899
1,888
251,
 742Dollars
 i
 in thou-sands)5974
13252748, 586
9.354
2,1638082,9719,841
1,321
40724411,813
18.
 088
3,
 283707676
4,
 6651,
 332
364
48, 586
i Converted
 at
 par: 1 lat =
 0,193.
ANNUAL REPORT
 OF TH
CENTRAL BANK
 OF
 BOLIVIA
The first annual report
 of the
 Central
 Esn
of Bolivia, covering
 the
 year
 1929,
 was sub-
mitted
 to the
 superintendent
 of
 banks
 on
March
 27, 1930.
 Sections
 of the
 report
 are
given herewith:
1
Organization
 of
 the
 Central Bank
 of
 Bolivia
The Central Bank
 is not
 a
 complete innovationin
 the
 banking organization
 of
 Bolivia; manyof
 the
 rights
 and
 duties—such
 as the
 exclusiveprivilege
 of
 note issue
 and of
 being sole depos-itory
 of
 Government revenues,
 and the
 obliga-tion
 to
 maintain
 the
 stability
 of the
 monetarysystem—usually conferred
 on
 banks
 of
 thischaracter
 had
 been granted
 to the
 Banco
 de la
Nacion Boliviana.
2
 Thus,
 it
 was
 the
 desire
 of
the Government
 and of
 Congress
 in the
 years1911
 and
 1913
 to
 create
 a
 separate institutionwhich should control Bolivian credit
 and eco-
nomic policy.The mixed character
 of the
 Banco
 de la
Nacion Boliviana—being both
 a
 bank
 of
 issueand
 an
 institution providing long-term credit—prevented
 it
 from fulfilling
 its
 original purpose.Although
 as a
 commercial bank
 it
 gave effec-tive
 aid to the
 business interests
 and to the
growing industries
 of the
 country,
 in
 additionto
 its
 services
 to the
 State,
 it
 neverthelesslacked
 the
 specific
 and
 complete organizationwhich
 is
 characteristic
 of
 central banks.Accordingly, with
 the
 advice
 of
 both local
 and
foreign bankers,
 a new
 central bank
 law was
proposed, together with other fiscal laws whichhad been prepared
 by
 the
 commission
 of
 finan-cial advisers headed
 by
 Prof.
 Edwin
 W.
Kemmerer.
 The
 recommendations offered
 by
this mission w
T
ere incorporated
 in our
 financiallegislation
 and
 consist
 of the
 following:
 The
general banking
 law, the
 monetary
 law, and
the reorganization
 of the
 Banco
 de la
 NacionBoliviana
 as a
 central bank.On July
 1, 1929, the
 Banco Central
 de
Bolivia began
 its
 functions. Prior
 to
 this,
 on
June
 25, the
 various contracts were signedbetween
 the
 bank
 and the
 Government
 in
accordance with chapter
 9 of the
 organic
 law
1
 Taken with some textual revision
 and
 rearrangement from
 the
English translation published
 by the
 bank.
 In
 addition,
 the
 reportcontains
 a
 discussion
 of the
 general economic situation, relations
 of the
Central Bank with
 the
 commercial
 banks, the exchanges, the
 budget
 and
public debt,
 etc., and
 gives tables showing detailed operations
 of the
2 Established
 in
 1911.
 Ed.)
July 1930

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