History of Latvia forests were another export revenue source. On March 27, 1919 the Latvian rublis was introduced with an exchange rate of 1 Latvian rublis equal to 1 ostruble, 2 German marks and 1,5 czar rubles. On March 18, 1920 Latvian rublis was made the only legal currency. Due to high inflation, the new Latvian lats currency was introduced at a rate 1 lat to 50 rublis. In 1923 the Bank of Latvia was established and lats replaced rublis in 1925. Between 1923 and 1930 state budget was with a surplus. On average 25,5% went to defense, 11,2% to education and 23,4%
2014 Baltic Chain Tour – Vilnius to Panevėžys, 21 August 2014 – Rīga to Sigulda, 2014 Baltic Chain Tour The 2014 Baltic Chain Tour was the fourth modern edition of the Baltic Chain Tour road cycling race. It was held over a period of five days between 20 and 24 August 2014. The race was a part of the 2014 UCI Europe Tour with a race classification of 2.2. This year the tour coincided with the 25th anniversary of the Baltic Chain, a peaceful political demonstration that occurred on August 23, 1989, with approximately two million people joining their hands to form a human