Abstract
Abstract The Danish monetary situation at the end of the eighteenth century made the formulation of a detailed monetary policy essential. Not only had the 1784 government taken over after a considerable quantity of money had been put into circulation, but the disturbed conditions due to war and a widespread slump in trade had led to further monetary difficulties. Practical measures for reform were very much to the fore both in government circles and with the general public. For nearly thirty years the country had had inconvertible paper money which had been issued for the past ten years or so by a bank directly owned by the state. Furthermore, the quantity of notes had gradually been increased to such an extent that many people must have felt it unrealistic to believe that the monetary system could be speedily brought back to a silver standard.
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