34 
after the liberation and unification; 966,355.134 dinars which serves as turnover 
capital of the Ministry of Finance, and 2 milliard dinars in order to cover extra- 
ordinary needs arising from the war of the organisation of the new Kingdom. The 
debt for the conversion of the Austrian crowns is covered by the mortgage of the 
state domains, and is being gradually paid off. The debt of 2 milliards has to be 
paid off by the State by April 19th 1931. In addition, the State has exchanged 
its gold or credits abroad for 333,037.575 paper dinars at par, but this is also 
covered. 
Most of the other banks are deposit houses. In addition to receiving savings 
and other deposits in various forms, they do the usual banking work of discounting. 
current accounts and often lombarding. 
There are no actual industrial banks, but many participate in the capital 
of industries by purchasing their shares, and by financing industry. 
There are two purely mortgage banks, the State Mortgage Bank and the 
Mortgage Bank of the Commercial Fund. Other banks however carrv on mortgage 
business. 
The State has now founded a Crafts Bank, in which it has invested part 
of the capital. The purpose of this bank is to credit crafts, particularly the small 
artisans, although there are craft credit co-operatives in existence. 
A law has been passed for the foundation of an Agricultural Bank with 
State assistance in order to give loans to peasants on favourable terms. There are 
also agricultural credit co-operatives and unions throughout the Kingdom which 
are working most satisfactorily. 
There also exist banks which deal mainly in export business on behalf of 
merchants, and which give loans on deposit of documents. 
The means which the banks of the Kingdom possess are sufficient for them 
to carry on their regular business in all branches of economic activity. A need is 
felt however for capital and long-term loans for industrial enterprises, which could 
give the necessary guarantees. There is also a need of long-term mortgage credit. 
Banking business proceeds normally. 
The question of currency is not yet settled. The national unit, the dinar, 
had an average rate throughout last year of 9.132 Swiss francs per 100, while in 
1927 its rate has been : on January 31st 9,137 ; on February 28th 9,132 ; on March 
31st 9,13 ; and on April 30th 9,132. This shows that the dinar is more or less sta- 
bilised. The difference between the rate of the dinar and its purchasing power is 
no longer so large as formerly. During last year the average index figure was 1527. 
as compared with 100 in 1913, while the average rate of the dinar was 9,132 Sw. 
francs which gives 1195,44 dinars for 100 Sw. francs. Preparations have been begun 
for the settlement of the problem of the currency.