Proclamation Day of the Republic of Latvia Proclamation Day of the Republic of Latvia Proclamation Day of the Republic of Latvia is celebrated annually on 18 November. It marks the anniversary of the Proclamation of Independence of Latvia by the People's Council of Latvia in 1918. Various public events take place all over the country, including concerts and fireworks. Torchlight processions held by various organizations have been part of Proclamation Day celebrations and Lāčplēsis Day celebrations since the 1920s. The largest torchlight procession organized by the National Alliance takes place in the capital city Riga and attracts several thousand participants every year. Its route through the streets
Bank of Latvia On September 7, 1922, the Constitutional Assembly adopted the Law on the Establishment of the Bank of Latvia. The Bank of Latvia was granted emission rights. The Bank's interim statutes were approved on September 19, 1922, with the decision of the Cabinet of Ministers, and its initial capital was 10 million lats. On April 24, 1923, Saeima approved the Statute of the Bank of Latvia, signed by President Jānis Čakste on the 2nd July. The bank was headed by a council and board. The Council consisted of a chairman, a deputy and 11 members, but the board included a director