First session of the National Economic Council
Published: 05.10.2017
The National Economic Council monitored and coordinated the activities of four economic chambers: the Chamber of Crafts (1935), the Chamber of Labour (1936), the Chamber Of Agriculture (1935) and the Chamber of Commerce and Industry (1934).
Members of the Bureaus and Chairmen of the Sections of the above Chambers were also Members of the National Economic Council. During the introduction of the chamber system in Latvia, six chambers were established. Several Members of the Council of Latvijas Banka occupied managerial positions in at least three chambers.
Augusts Kuraus, Member of the Council of Latvijas Banka (1933–1940), was Deputy Chairman of the Chamber of Commerce and Industry, and Alberts Zalts, Member of the Council of Latvijas Banka (1932–1940), was Secretary General of the Chamber of Commerce and Industry as well as Secretary of the first session of the National Economic Council. Eduards Rozīte, Member of the Council of Latvijas Banka (1937–1940), was Chairman of the Latvian Chamber of Crafts, and Edmunds Ziemelis, Deputy Chairman of the Council of Latvijas Banka (1933–1940) and professor at the University of Latvia, was Chairman of the Latvian Chamber of Professions.
Members and Committee Chairmen of the National Economic Council during their visit at the President's Castle. Riga. 11 January 1938.
During the first session, the National Economic Council had to assess the draft law on the issuance of Treasury bills for funding the Ķegums hydroelectric power plant. Latvijas Banka invested 10 million lats in the construction of the Ķegums hydroelectric power plant. Another 34 million lats were invested in the Treasury bills with a 5% yield purchased from the Ministry of Finance for dissemination.