Royal Decree of 27 July 1887

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The Royal Decree of 27 July 1887 was a rule of law signed by King Leopold II of Belgium, the then private owner of the Congo Free State, providing for the establishment of a monetary system for the free state and the introduction of a local currency, the Congolese franc, with a value set at 1/3100 of a kilo of 90% pure gold.

Leopold II of Belgium King of the Belgians

Leopold II was King of the Belgians from 1865 to 1909. Born in Brussels as the second but eldest surviving son of Leopold I and Louise of Orléans, he succeeded his father to the Belgian throne in 1865 and reigned for 44 years until his death – the longest reign of any Belgian monarch. He died without surviving male heirs. The current Belgian king descends from his nephew and successor, Albert I.

Belgium Federal constitutional monarchy in Western Europe

Belgium, officially the Kingdom of Belgium, is a sovereign state in Western Europe. It is bordered by the Netherlands to the north, Germany to the east, Luxembourg to the southeast, France to the southwest, and the North Sea to the northwest. It covers an area of 30,688 km2 (11,849 sq mi) and has a population of more than 11.4 million. The capital and largest city is Brussels; other major cities are Antwerp, Ghent, Charleroi and Liège.

Congo Free State Area in Central Africa under Belgian control (1885–1908)

The Congo Free State also known as the Independent State of the Congo was a large state in Central Africa from 1885 to 1908. It was ruled personally by Leopold II and not by the government of Belgium, of which he was the constitutional monarch. Leopold II was able to procure the region by convincing other Eurasian states at the Berlin Conference that he was involved in humanitarian and philanthropic work and would not tax trade. Via the International Association of the Congo, he was able to lay claim to most of the Congo basin. On 29 May 1885, after the closure of the Berlin Conference, the king announced that he planned to name his possessions "the Congo Free State", an appellation which was not yet used at the Berlin Conference and which officially replaced "International Association of the Congo" on 1 August 1885. The Congo Free State operated as a corporate state privately controlled by Leopold II. The state included the entire area of the present Democratic Republic of the Congo and existed from 1885 to 1908, when the government of Belgium reluctantly annexed the area.

This decree was promulgated exactly 5 months after the Royal Decree of 27 February 1887 relating to commercial entities, which provided a legal operating framework for establishing companies to perform acts of a commercial nature, and the actions taken by these companies, while conducting business in the Congo Free State.

The present commercial law of the Democratic Republic of Congo can trace its origins to this decree.

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