Full resolution (JPEG) - On this page / på denna sida - VIII. Money and Banking
<< prev. page << föreg. sida << >> nästa sida >> next page >>
Below is the raw OCR text
from the above scanned image.
Do you see an error? Proofread the page now!
Här nedan syns maskintolkade texten från faksimilbilden ovan.
Ser du något fel? Korrekturläs sidan nu!
This page has been proofread at least once.
(diff)
(history)
Denna sida har korrekturlästs minst en gång.
(skillnad)
(historik)
between October 1865 and July 1866 from 26 to 20
millions. In 1866 the country is said to have gone
through the severest crisis it has ever known. Then
and in the next period all forms of banking business
decreased, note circulation, deposits, loans and
discounts, current accounts and cash credit. The import,
which in 1865 amounted to 72 millions, was in 1866
only 56 millions; the export went down from 40 to
31 millions. It was not till 1869 that the import
again rose above the total of 1865, to 76 millions;
the export had increased considerably by 1867. In
1869 the harvest was better, and the whole situation
was ameliorated, but commerce again decreased between
1869 and 1870. The bills held in the Bank of
Finland decreased from a maximum in 1862 to a minimum
in 1870; but when the total amount of the loans
between 1867 and 1871 decreased from 36½ to 29½,
this decrease, especially for the last year, can only be
said to have been formally announced; the Bank
recognised then in its accounts considerable losses, which
were really incurred earlier.
Finland profited considerably by the general
expansion of business in the period following the
Franco-German war. The export of lumber brought much
money into the country, even after the general crisis
had taken place in 1873. The whole export of wood
increased between 1870 and 1877 from 13 to 59
million marks. All kinds of business expanded. The
bank deposits increased between 1869 and 1876 from
18 to 34½ millions; the banks’ bills on Finland between
1870 and 1876 from 11 to 76 millions. At the end
of 1872 there were fewer foreign bills, but in the
following years, when most other countries suffered
from the general monetary crisis, business in Finland
continued to progress. In the years 1873-74 loans
<< prev. page << föreg. sida << >> nästa sida >> next page >>
