History of Latvia only St. Petersburg and Moscow by the number of industrial workers, and at the turn of the century over 90% of Latvians could read. In this regard, Latvia was equally primed for radical leftism and nationalism. In all, spearheaded by the Latvian Social Democratic Workers’ Party (LSDSP), the governorates making up what is now Latvia were probably the most ungovernable in the whole Russian Empire. Following the shooting of demonstrators in St. Petersburg on January 9, 1905 a wide-scale general strike began in Riga. On January 13 Russian army troops opened fire on demonstrators in Riga killing 73 and injuring
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