The purchase of guaranteed railways owned by foreign companies likewise added largely to the bonded indebtedness, though the onus was in existence in another form.
The issuing of licences, and regulates bonded debts.
The bonded debt, amounting on the 31st of May 1908 to 8788,000, was incurred partly in meeting temporary deficits in the treasury and partly in the construction of public buildings.
From 1897 to 1903 the efforts of the Street Railway Companies of Chicago to extend their franchise, and of the city of Chicago to secure municipal control of its street railway system, resulted in the statute of 1903, which provided for municipal ownership. But the proposed issue under this law of bonds with which Chicago was to purchase or construct railways would have increased the city's bonded indebtedness beyond its constitutional limit, and was therefore declared unconstitutional in April 1907 by the supreme court of the state.
The bonded debt was incurred during the Reconstruction Period (1865-1875).
Since 1900 there has been no bonded debt whatever.
And the large bonded warehouse are worthy of notice.
But the state was authorized by an amendment adopted in 1868 to issue bonds for the reimbursement of the expenses incurred by its cities, towns, and plantations on account of the Civil War, and these bonds, with those issued by the state itself during the Civil War, constituted the largest part of the state's bonded indebtedness.
The townwalls are built of flint and concrete bonded with ironstone, and are backed with earth.
The commerce of Denmark is mainly based on home production and home consumption, but a certain quantity of goods is imported with a view to re-exportation, for which the free port and bonded warehouses at Copenhagen give facilities.