Extension of the legal basis for Danmarks Nationalbank
The extension of the legal basis for Danmarks Nationalbank was not subject to very much debate when the Royal Charter from 1818 approached expiry in 1908. It was extended to 1938 with few changes. The most significant change was to the banknote coverage rules whereby the old subscription system was replaced by the rule that 50 per cent of the stock of banknotes had to be covered by gold. In addition, the number of Governors by Royal Appointment was raised from 1 to 2, one of whom had to have knowledge of agriculture.