In 1866, Tórshavn's town council was founded. The town has been the capital of the Faroe Islands ever since. Later, in 1909, Tórshavn became a market town with the same municipal charter as Danish market towns. In 1913, the Danish Folketing granted DKK 810,000 to construction of a harbour in Tórshavn. Local waves are , the waters are icefree and have a tidal variation of , and storms from the west are mitigated by the gentle eastwards slope of the mountains. Other harbours were also benefitted with an 80% grant to a total build cost of DKK 1.6 million. In 1927, Tórshavn had a modern harbour built. This made it possible for larger ships to berth.