Iceland 1930

Bibliographic data

Monograph

Identifikator:: 1830571079

URN:: urn:nbn:de:zbw-retromon-221162

Document type:: Monograph

Title:: Iceland 1930

Edition:: 2. ed.

Place of publication:: Reykjavík

Publisher:: Ríkisprentsmiđjan Gutenberg

Year of publication:: 1930

Scope:: 193 S.; Tab., Kt., Taf.

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: State and municipal finance

Collection:: Economics Books

STATE AND MUNICIPAL FINANCE ( THE STATE It is not yet 60 years since Iceland achieved financial independence. By Law of January 2nd 1871 the finances of Iceland were separated from those of Denmark. It was not, however, till three years later, or by the constitution of 1874, that Althingi was granted control of the Icelandic finances, and the first budget (for the financial year 1876) framed and passed by that body dates from 1875. Up to that vear the management of the finances of Iceland had been in the hands of the Danish government. When the finances of Iceland were separated from those of Den- mark, that country agreed to pay to Iceland an annual grant to be reduced by a fixed yearly amount until it had come down to 60000 krénur, at which figure it should remain. This grant was looked upon as a repayment of Icelandic moneys which in course of time had been swept into the royal treasury. In 1918, when Iceland was acknow- ledged as an independent State, this grant was discontinued, and Ice- Jand undertook to pay her share of the Civil List. At the same time 2 million krénur were paid out of the Danish treasury once for all and made into 2 separate Funds of 1 million krénur each, one man- aged by the University of Reykjavik, the other by the University of Copenhagen. The object of both Funds is the same: viz. to further the intellectual intercourse between Denmark and Iceland; to promote Icelandic research and science: and to support Icelandic students.’ REVENUE AND EXPENDITURE The following table shows the distribution of revenue and ex- penditure:

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