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Government of Kingdom of Norway - 3.5% State Gold Loan Norsk 1904 (Norsk 3.5% Staatslaan af 1904)


Bond of 3,5% of 500F (or 360 Cr.) - Christiania 1904

Uncancelled with coupons.

No tax


Bond of 3,5% of 500 francs or 360 Crowns or 19-16-5£ issued in Christiania in 1904.

Uncancelled with coupons.

VF/EF condition

Large size.

A trial took place in 1955 to settle the dispute over the repayment of the Norwegian debt to France.

Between 1896 and 1905, the Norwegian Government issued six public loans on the French market and on other foreign markets. From 1885 to 1909, various loans were issued on foreign markets, including the French market, by the Mortgage Bank of the Kingdom of Norway, an establishment created by the State and whose capital belongs to the State. Finally, in 1904, the Norwegian Bank for Agricultural Properties and Workers' Housing issued a loan on the French market and on other foreign markets.

Following the outbreak of hostilities in Europe, the convertibility of Bank of Norway banknotes was suspended on August 5, 1914, this measure having subsequently been confirmed by Royal Decree of August 18, 1914. During the following period, the Bank of Norway was authorized to resume the convertibility of banknotes into gold (1916) and to suspend it again (1920 ). This last measure was, in turn, revoked (1928) and Bank of Norway notes became convertible again. However, in 1931 the Bank's obligation to convert the notes was again suspended.

On July 6, 1955, France filed before the International Court of Justice an application instituting proceedings against Norway concerning certain loans that the latter had made between 1885 and 1909. The interest on these loans was paid in Norwegian krone since Norway's decision to suspend gold-currency convertibility. France wanted the Court to order Norway to make repayments of principal and interest on the basis of the gold value. Norway, for its part, raised certain preliminary objections relating in particular to the jurisdiction of the Court.

Unfortunately, the Court rules that it does not have jurisdiction to rule on the dispute brought before it by the Application of the Government of the French Republic dated July 6, 1955.

Jugement of 1957.pdf

1 Item

Data sheet

Richard (92, rue St-Lazare, Paris)

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