William Usborne Moore.

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8,510


9,956


6,412


6,638


6,581


12,086


18,669


6,575


6,513


7,981


8,875


10,189


44,098


43,611


52.056


1,137


1,098


146


166


144


3,759


3,706


941


1,099


1.505


2,019


2,318


4,133


5,962


7,200


H&l


18,889


2,884


2,643


3,998


3,012


3,448


1,779


1,774


2,291


7,980


8,523


1,185


1,404


1,155


11,447


11,621


2,619


3,204


3,362


25,297


25,290


3,204


2,769


3,391


222,310


240,217


124,032


128,408


137.756






7,964


8,872


10,016



Grand total.



131,998 137,280 147,771

The countries comprising the principal portion of the foreign trade are : Sweden, imports,
33,535,100 kroner; exports, 23,141,000 kroner; Germany, imports, 58,590,200 kroner; exports, 17,414,900
kroner; and Great Britain and Ireland, imports, 64,277,200 kroner; exports, 47,881,600 kroner.

For commerce with the United States, see Sweden.

i he values of the precious metals imported and exported by Norway from 1885 to 1895 are shown
as follows :



1885..
1887..
1888.,
1889..
1890.



Year.



Imports.

$270,970

1,185,330

104,790

64,240

95,780



Exports.

$106,130

200,840

96,910

112,160

780



1891.
1892.
1893.
1894.
1895.



Year.



Imports.

$120,390
140,990
166,700
128,800
780,000



Exports.

$123,090

128,350

117,880

26,990

84,000



Shipping, Railroads, Post-Offices, and Telegraphs. (See index.)



Money.



By a treaty signed May 27, 1873, with additional treaty of October 16, 1875, Sweden, Norway, and
Denmark adopted the same monetary system.

For gold and silver coins, see Index.

The standard of value is gold. In Sweden, National Bank notes for 5, 10, 50, 100, and 1,000 kroner
are legal means of payment, and the bank is bound to exchange them for gold on presentation. The
case is the same in Norway, where there are also notes for 500 kroner.

On December 81, 1896, the Norwegian coins in circulation were as follows: Gold coin, 15,858,510
kroner; silver coin. 7,781,050 kroner; bronze coin, 564,195 kroner; total, 24,203,755 kroner.

There is no Government paper money in Norway.



Banking.

There are two State banks, the Norges Bank and the Kongeriget Norges Hypothekbank.

The Norges Bank is a joint-stock bank, which is largely owned by the State. It has a head office
at Christiania, and twelve branch offices. It is the only bank in Norway authorized to issue notes for
circulation. The balance-sheets of the bank for 1896 show : Assets at end of year— Bullion, 34.788,810
kroner; outstanding capital, mortgaged estates, foreign bills, etc., 44,145,378 kroner: total, 78,934,188
kroner. Liabilities— Notes in circulation, 52,483,542 kroner; the issue of notes allowed was 58,788,810
kroner; deposits, checks, unclaimed dividends, unsettled losses, etc., 6,946,249 kroner (of which the
deposits amounted to 6,440,058 kroner) ; dividends payable for the year, 1,578,243 kroner; total, 61,008,-
034 ; balance, 17.926,154 kroner.

The Kongeriget Norges Hypothekbank, established in 1852, is properly a mortgage bank. Its
capital is furnished by the State, and amounted to 14,000,000 kroner in 1898. The bank has, besides, a
reserve fund amounting in 1895 to 1,000.000 kroner. At the end of 1895 the total amount of bonds issued
was 110.840,400 kroner. The loans on mortgage amounted to 115,213,965 kroner.

There are now 38 private non-Issuing banks, most of them having but a small capital stock, and
only seven a capital exceeding 1,000,000 crowns.

The status of the savings-banks of Norway is shown by the following figures :

> Amount to the Credit of Depositors %

Deposits. Withdrawals. At Knd of Year.

Kroner. Kroner. Kroner.

88,500,397 80.875,998 194,141,420

96,859.532 86,868,828 217.247,755

102,186,313 94,088,782 225,431,090



No. of No. of

Savings- Deposi-
Year. Banks. tors.

1890 350 470,799

1894 367 623,918

1895 373 540,053

1896 380 561,257



234,690,760



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SWEDEN.



61



SWEDEN.



Area and Population.



The area of Sweden is stated at 172,807 square miles.

The progress of population from 1800 to 1896 has been as follows : 1800, 2,347,808 : 1820, 2,584,690;
1840,8038,887; 1850,3,482,641; 1860, 8,859,7;» ; 1870,4,168,525; 1880,4,565,668; 1890,4,784,981; 1896 (estimated),

* With the exception of (1890) 19,505 Finns, 6,846 Lapps, and some thousands others, the Swedish
population is entirely of the Scandinavian branch of the Aryan family.

The following table shows the leading occupations of the people in 1890, including the families
and dependents of those directly employed :



Agriculture, etc.—

Landed and farm proprietors.

Farmers, overseers, etc

Planters, etc

Crofters, cottagers, etc ,

Dairy- keepers*

Gardeners

Fisheries

Mining and metal works.



1,229,601

250,784

400,623

494,421

11,882

15.793

34,246

219,578



Timber works , .

Various manufactures. . . .
Trade and locomotion

Officials and military

Learning and literature. .

Medicine, etc

Owners, pensioners, etc..
Mechanics, servants, etc.
Various



96,823
533,119
309,967
207,276

43,383

18,817
307,560
555,297

66,271



Sweden has sent a steady contribution of emigrants to the United States, as will appear from



the following statement :

Immi- Total. To

Year. grants. Emigrants. America.

1890 6,030 84,212 29,487

1891 6,114 42,776 36,134

1890 6,511 45,504 40,990



Immi-
Year. grants.

1893 7,877

1894 10,425

1895 8,525



Total.
Emigrants.
40,868
13,358
18,955



To
America.
37,321
9,629
14,982



Fiscal Affairs.



The revenues and expenditures of the State are illustrated in the following budgets for 1897
and 1898, expressed in thousands of kroner :



Kevenue. 1897.

Domains, railway, land taxes, etc 20,665

Customs 37,000

Post 8,580

Stamps 6,000

Impost on spirits, etc 23,500

Impost on income 6,000

Net profit of the State Bank. .... 2,700

Surplus from previous years 8,296



21,082

89,000
9,025
5,000

23.500
6,450
1,800

14,229



Total 111,731 120,086



Exenditure. 1897. 1898.

(a) Ordinary:

Royal Household 1,820 1,820

Justice 8,816 3,842

Foreign Affairs 607 607

Army 25,988 28,843

Navy 7,046 7,046

Interior 6,701 5,730

Educational & Ecclesiastical. 18,500 13,801

Finance 17,951 18,376

Pensions 3,286 3,284

79,215 80,859

(b) Extraordinary 18,871 27,047

(c) Payment of loans and miscel-

laneous (Diet, etc.) 11,445 11,244

Carried to floating cap! tal 800 36

Insurance fund against invalidity

of workers. 1,400 1,400

Total 111,731 120,086



The liabilities of the kingdom, contracted entirely for railways, were as follows on January 1.
1897 expressed in kroner: Funded railway loans of 1860, without interest, 244,444: of 1880, at 3% per
cent, interest, 103.346,100 ; of 1886, at 3^ per cent, interest, 58,920,444 ; of 1887, at 3 3-10 per cent, interest,
48.566.500: of 1888. at 3 per cent, interest, 26,666,667; of 1890. at Z}4 per cent., 33,777,778 ; provisional loan
oflSSlat 4 per cent., 44,640 ; and funded railway loan of 1894. at 3 per cent., 18,000,000. Total, 289,566,573.

All the loans are paid off gradually by means of sinking funds. As the railway receipts amount
to about two-thirds of the interest, the charge, to the people is nominal.



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62



THE COMMERCIAL YEAR BOOK.



Industries.

The number of farms in cultivation in 1897 was 829,080 ; of these there were, of f hectares and
under, 70,529 ; 2 to 20 hectares, 214.158 ; 20 to 100 hectares, 82,447 ; 100 and above, 3,166. Of the total land
area of Sweden 8.3 per cent, is under cultivation, 3 per cent, under natural meadows, and 46.9 per cent,
under forests, the products of which form a staple export.

The following- table shows, in thousands of hectares, the area under the chief crops in 1895, and,
in thousands of hectolitres, the yield In 1890:



Area..
Yield.











Mixed




Pota-


Wheat.


Rye.


Barley.
218.6


Oats.


Grain.


Pulse.


toes.


71.1


408.5


827.4


U9.9


52.8


168.5


1,646.5


8,466.6


5,070.8


19,765.9


3,139.0


846.8


22,412.6



The value of all cereal crops in 1896 was estimated at 248.9 million kroner.

Sweden is rich in minerals. In 1895 there were mined 1,904,662 tons of iron ore : gold ore, 459
tons; silver and lead ore, 12,045 ions; copper ore, 26,009 tons; zinc ore, 31,349 tons: manganese ore,
8,117 tons. The amounts of the different sorts of iron produced in 1896 were : pig iron, 462,980 tons ;

Euddled, for rolling, 188,726 tons; Bessemer ingots, 97,294 tons; Martin ingots, 96,475 tons; cast ingots,
►I tons ; iron and steel bars, 108.270 tons; iron and steel hoops, rods, etc., 78,168 tons; wire rods, 26,088
tons ; sheet iron, 12.028 tons. The coal mines, exclusively in the most southern province, yielded
223,652 tons. Gold production was 86 kilos : silver, 1,188 kilos : lead, 1,266,079 kilos ; copper, 216,806 kilos.



Foreign Commerce.



The foreign trade (special) of Sweden was as follows, in kroner :

1889. 1890. 1891. 1892. 1893. 1894. 1895. 1896.

Imports 376,963,711 377,187,739 369,098,254 360.315,856 332,689,289 351,173.005 344,290,000 358,315,000

Exports 301,725,097 804,591,863 323,498,082 329,300,154 328,271,667 298,625,234 311,444,000 340,283,000

The leading imports and exports (special trade), in thousands of kroner, were :

Imports.

Coal, coke, etc

Coffee

Cotton : Raw

Yarn

Manufactures of

Pish, fresh, salted, etc

Grain : Rye

Wheat

Rye meal

"Wheat meal

Iron & Steel: Unwrought& partly

wrought

Manufactures of . . .
Machinery (including locomo-
tives)

Oil : Mineral

All other

Pork

Skins: Dressed , Vk

Undressed

Tobacco

Wood, manufactures of

Wool : Raw

Yarn

Manufactures of



1895.

32.462

27,101

8,695

3,456

7,994

6,654

9,432

10,754

073

1,285

3,252
9,441



1896.

32.581

20,759
9,724
2,952
7,3U9
7,073
7,293

13,501

884

1,586



13,710



11,150


10.553


8,012


7,132


4,982


6,156


3,856


5.405*


9,043


8,043


3,584


3.334


7.222


7,227


4,425


4,512


5,331


4.422


9.054


9,914


17,482


10,037



Total, all articles 344,290 385,316



Exports.

Animals : Cattle

Horses

8 wine

Butter (including margarine)....

Fish, fresh, salted, etc

Glass and glassware

Grain: Oats

Iron & Steel: Iron ore

Pig iron

Bar, hoop, bolt, etc

Blooms

Plates

Wares

Wire

Lucifer matches

Machinery

Paper

Wood : Deals and planks

Beams and rafters.

Masts and spars

Pit props

Staves

Wood pulp



1806.


1896.


4,825


4,811


960


906


274


853


43,348


44,660


7,908


7,554


4,523


5.100


0,015


4,784


5,003


7,940


5.398


4,496


23,300


25,572


2,260


8,572


580


608


6,295


6,771


350


544


7,001


5,830


5.524


7,bl8


6,226


6,729


94,828


111,795


8,911


4.000


4,373


8,983


6,395


6,534



12,489



739
14,482



Total, all articles 311,434 840,283



The trade (special) with the principal countries, including bullion and specie, is shown as fol-
lows, in thousands of kroner :



1890.



Russia and Finland 29,718

Norway 32,833

Denmark 44,084

Germany ll *M5?

Holland 9.638

Belgium WOOL

United Kingdom 108,869

France 7,983

United States 8,183

8pain U61

Africa



iports from
1895.


>

1896.


1890.


-Exports to-
1895.


1806.


19,755


23,267


11,847


11,292


18,887


28,742


29,028


18,003


18,054


19,548


37,976


45,898


83^31


41,464


42^03


116.223


117.516


36,677


42,750


48,884


8,331


8,777


16,278


18,302


20,140


9,629


11,089


11,020


8,808


12,075


97,775


98,834


187.408


180,820


144.068


7,932


7,170


24,422


25,206


29,366


10,643


9,092


919


82


721


864


1,214


7,430


8,624


2,480






2,630


7,668


0,818



Total, all countries 877,188 344,290



868,815 804,602 811,484 840^83



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SWEDEN.



63



COMMXBCB WITH THE UNITED 8TATE8.

The following shows the combined trade of Norway and Sweden with the United States :



1898. 1883. 1804. 1886. 1886. 1807. 1888.

Exports into United States.. ..$8,764,053 $4,176,384 $8,112,066 $2,681,827 $3,320,321 $2,600,118 $2,673,889
Imports from United States... 6,578,381 4,084,704 4,381,046 4,652,601 5,086,766 5,463,507 0,313,786

The values of the imports from the United States for the year ending June 30. 1886, were : Agri-
cultural implements, $150,861: breads tuffs, $881,451; cotton, unmanufactured; $1,105,531; fertilizers,
$157482; iron and steel, manufactures of, $158,858; leather, sole, $504,178; oils, mineral, refined, $816,-
483; provisions, $008,507.

The values of the exports to the United States were : Fish, pickled or salted. $378,742 ; iron and
steel, and manufactures of, $1,848,645; oils, whale and fish, $182,500: wood pulp, $283,606; gold, $3,461 ;
silver, $70.



Shipping, Railroads, Post-Office, and Telegraphs. (See index.)



Banking and Money.

The Riksbank, or National Bank of Sweden, belongs entirely to the State, and is managed by
directors elected annually by the Diet. The bank is under the guarantee of the Diet ; its capital and
reserve capital arc fixed by its constitution, and its note circulation is limited by the value of its
metallic stock and its assets in current accounts at borne and abroad ; its actual circulation is kept far
within this limit. The larger portion of the banking operations of Sweden are done through private
banks, and next in importance are the joint-stock banks.

The following table gives statistics of the National Bank, private banks, and joint-stock banks
in Sweden for January 1, 1807 :

National. Private. Joint-Stock.

Assets. Kroner. Kroner. Kroner.

Mortgages 53,241,256

Real estate 5.677,922 3,407,186

Coin and bullion 25,673,483 21,810,045 10,807,773

Accounts with other banks 20,511,832 45.000,235 32,013,307

State notes and bills 23,054,632 32,870,636 16,531,335

Stocks, shares, mortgages, etc 62,020,487

Bills 42,701,232 162,500,546 58,017,206

Loans, public obligations, shares, etc 30,925,262 154,086,536 86,502,146

Cash credits, etc 16,034,430 88,712,844 37,342,754

Total 160,700,880 564,060,020 308,721,373

Liabilities.

Banknotesand bills 64,845,377 81,883,858 5,231,856

Liabilities with other banks 3,047,530 50,213,001 34,351,802

Deposits 4,235,744 24l,400,81» 77,001,444

Capital 60,000,000 62,512,000 44,063,468

Reserve 5,000,000 10,576,602 12,072,100

To be paid to public treasury 2,700,000

Various liabilities 25,614,476 101,085,045 133,850,702

To further disposition 5,347,744 6,506,605 1,160,003

Total 160,700,880 564,080,020 308,721,378

The savings-banks statistics (exclusive of post-office) are as follows :

1800. 1802. 1803.

Number of depositors 1,080,421 1,005,788 1,111,187

Deposits at end of year, kroner 281,726,806 208,456,053 314,653,546

Capital and reserve fund, kroner 23,648,545 26,531,754 28,557,632



1804. 1805.

U 10,887 1,124,208

833,078,300 348,441,088

20,008,600 31,383,447



At the end of 1805, the Post-office Savings-bank had 408,288 depositors and 88,477,400 kroner of
deposits.

The monetary system is that of " The Scandinavian Union." See under head of " Norway."

For gold and silver coins, see Index.



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64



THE COMMERCIAL YEAR BOOK.



TURKEY.



Area and Population.

The Ottoman Empire, embracing States in one way or another subject, includes an area of 1,609-
240 square miles, which, with the latest estimated population, is thus distributed as to geographical
divisions :

Square Popu-

Immediate possessions— Miles. lation.

Europe 61,200 4,780,000-

Asia 687,640 21,606,000-

Africa 398,788 1,300,000-

1,147,678 27,688,000-

Bulgaria (including Eastern Roumelia), autonomous 37.860 3,154,375

Bosnia, Herzegovina, and Novi-Bazar— under Austria-Hungary 23,570 1,504,001

Samoa— tributary principality 232 48,500*

Egypt 400,000 6,817.265

46UM2 11,524,131

Total 1,600,240 30,212,181

No accurate statements exist of the racial divisions of the inhabitants. It may, however, be
said, in general terms, that in the European provinces under immediate Turkish rule, Turks (of
Pinno-Tatario race), Greeks, and Albanians are almost equally numerous, and constitute 70 per cent,
of the population. Other races represented are Serbs, Bulgarians, Roumanians, Armenians, Magyars*
Gy psies, Jews, Circassians. In Asiatic Tu rkey there is a large Turkish element, with some four million
Arabs, besides Greeks, Syrians, Kurds. Circassians, Armenians, Jews, and numerous other races.



Fiscal Affairs.

The various branches of revenue and expenditure for the year ending February 2, 1898, are
shown below, being budget estimates :

Revenue.

D THhes 4,100,000

Land and property tax 3 <Si'X£i

Income tax 500,000

Exemption from military service 886,210

Tax on sheep, etc MSI'SiS

Various 321,273

Indirect— 9IY)nmn

Customs ?'S?'??2

Various 2,571,146

Administrative— . WTO)

Military departments 532,793

Civil departments..... 1 » 9 ??'S?

8hare in Tobacco Regie profits 61,77o

Tribute revenues, various l,L»,dlo



Expenditure.

Civil list

Public Debt-
Tributary debt

Loans under Debt Administration. . . .

Other loans

Floating debt

Railway guarantees

War indemnity to Russia

Pious foundations, etc

Military Departments-
War

Gendarmerie

Marine

Artillery

Civil Departments—

Gr'd Vizierate, State Council, Interior.

Finance

Justice

Other departments



£T.
882,550

750,06a
2,661,001
1,204,839



868,894
450,000
740,484

4,480.698

1,018,044

646,209

462,177

080,322

668,011

461,441

1,707,260



Total 18,511,322 Total 18,420,411

The condition of the Turkish debt was as follows in the middle of 1807 :

Series A, B, C, D, outstanding, £79,781,702; various loans, 1888-04, £28,490,640; lottery bonds,
*ia 135.004- Ave per cent, customs loan, 1886, £5,160,320: four per cent. Tombac bonds, 1894, £870.600:
five percent! loan! 1896, £2,961,200 ; total loans, £130,899,4&. * ^ ,DW '

^f debts which are not loans, the sum was, in 1896 £T31,551,958, including £T31.228,464, the out-
standing amount of the Russian war indemnity ; £T50,000 of indemnity to Russian subjects, and
£T£T3,494 to the Damascus Serghis Railway.



Industry and Commerce.



The principal products are tobacco, cereals of all kinds, cotton, figs, nuts, almonds, grapes,
olives, all varieties of fruits. Coffee, madder, opium, gums, are largely exported. It is estimated
that 44 million acres of the Empire in Europe and Asia are under cultivation. About 21 million acres
are under forest, of which 3^ million acres are in European Turkey. The culture of silkworms,
which had fallen off considerably, owing to disease among the worms, is again becoming an impor-



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TURKEY.



65



tant feature. The value of cocoons exported in 1894 was 40,000,000 piasters, and of raw silk exported
108,000,000 piasten*. Most of the silk produced is exported, but some is used in the manufacturing of
■ native dress material.

The country is rich in minerals, coal, copper, lead, silver, iron, manganese, chrome, bitumen,
sulphur, sal t, alum ; coal especially is abundant, but hardly worked. A royalty of 20 percent, is paid
on ail minerals exported. Carpets, which constitute a considerable article of export (about £150,000),
are made on hand-looms, and so also are a number of light materials for dress.

The customs policy of Turkey aims simply at revenue, and imposes a uniform duty of 8 per cent,
on all imports except salt and tobacco, which are Government monopolies ; on exports of native
products tnere is a duty of 1 per cent.

The imports and exports are shown as follows (1895 and 1896 being estimates), expressed in thou-
sands of £ T. :

1891. 1892. 1893. 1894. 1895. 1896. 1897.

Imports 22,914 24,554 24,467 24,108 28,279 17,130 24,070

Exports. 12,836 15,870 15,725 13,262 14,933 18,448 13,750

The value of the trade by countries is shown below, in thousands of piasters :

/ Imports ^ , Exports *

1891-2. 1892-3. 1893-4. 1891-2. 1892-3. 1893-4.

Great Britain 1,020,118 978,151 905,498 686.302 701.939 573,598

Austria 459,718 509,920 516,354 123,227 151,180 132.865

France 302,137 298.291 274,105 450,700 380,036 &55,826

Russia 186,899 128,93-5 150,443 25,831 32,176 33,521

Italy 57,699 58,005 62,448 54,365 78,447 46,986

Bulgaria 94,010 124,484 123,129 40,266 42,976 36,144

Persia 65,321 55,864 76,158 1,526 - 2,025 1,720

Greece 42,285 87,280 42,814 54,779 41,871 23,884

Belgium 64,676 66,790 66,579 3,111 3.882 5,864

Rou mania 45,978 57,703 71,489 29.118 23,625 23,866

United States 8,245 876 2,051 23,281 16,368 15,033

Tunis 6,129 6,173 2,042 220 72 41

Servia 7,252 7,051 6,615 5,151 4,763 6,730

Holland 12,172 12,483 13,795 23,592 42,943 39,684

Germany 18,434 27,978 28,170 13,996 31,677 29,466

Egypt '. 61,714 66,426 61,356

Sweden 6,661 8,084 5,294 1

Montenegro 832 798 1,246 467 268 482

8amos 102 73 30 286 5

Denmark 13 32 25 318 682 10

8pain 1 7 406 2,820 1,020

Japan 3,316 3.224 L

Total 2,455,894 2,446,698 2,410,866 1,567,005 1.557,204 1,326,242

The principal imports and exports for 1893-4 are shown below, in thousands of piasters :



Imports.

Coal 253,412

176,541
158.079
132,952
89,477
88,678
87.279
77,317
75,349
87,598
54,337
""87



8ugar.

Linen cloth

Quilts

Cotton yarn

Coffee

Rice

Cereals (various)

Woolens

Flour

Madapollams

8kins

Cashmeres

Petroleum

Iron

Cloth

Timber

Hides

Hardware

Cotton and cotton goods.

Sheep and goats

Carpets ,

Instruments, etc

Silk

Drugs

Silk goods

Sacks

Clothes

•Copper plates, etc

Hats, fez

Paper. . :

■Linen goods

.Barley

Alcoholic liquors.

Butter

Packing cloth

•Cheese

Glassware

Indigo

'Colors



53
13
93
05
73
55
71
35
«)
33
55
*9
)9
13
!l
11
12
>5
4
15
«

'I

3 j

15,149
15,060 |



Exports.

Grapes ,

Silk

Cotton

Mohair

Rarley

Cocoons

Opium

Valonia

Coffee

Ores

Pulse, etc

Olive oil

Wool

Figs

Goat-skins, etc

Sesame ,

Dates

Maize

Drugs

Carpets

Hi ra -seed

Grains (various)

Nuts, hazel

Oats.

Horses and mules

Fish, salted, etc

Olives

Seeds (various)

Gum

Sponges

Gall-nuts

Eprgs

Cattle

Hilfe

Rye

Pipe lulees



178,241
109.298
67,509
00,421
58,926
57,488
54,047
53,045
47,21 JO
39,321
39,187
38,535
38,354
38,126
35,661
24,112
24,015
23,926
21,742
20,773
15,850
15,741
14,087
13,855
9,223
9,193
9,087
9,040
7,581
7,139
7,032
6,475
6,024
5,8*9
5,239
4,819



Digitized by



Google



66



THE COMMERCIAL YEAR BOOK,



Railroads, Post-Office, Telegraphs. (See index.)



Shipping.

The mercantile navy of the Turkish Empire in 1807 consisted of 104 steamers of 48,572 tons, and
1.010 sailing vessels of 1900,084 tons. In 1806-96, there entered and cleared at all ports of Turkey 188,068
vessels of 38,400,144 tons.



Banking and Money.



The condition of the Ottoman Bank in December, 1896, compared with 1804, is shown as follows :



1896.
Liabilities. £

Capital paid up 5,000,000

Bank-notes in circulation 566,688

Bills payable 968,066

Current account of sundries. 5,218,065

Deposits for fixed terms. 6i4,128

Stationary reserve 658,835

Profit andloss 305,959



1894.

£

5,001,000

838,797
2,821,666
8,556,469
1,427,196

480,256

479,584



Total 134831,731 19,603,918



1896. 1804.

Assets. £ £

Cash In hand, inol'g branches 1,597,755 1,746,906

Money at call 227,681 107,528

Bills receivable 633,136 1,676,906

Investments (Edit, and F'ch

gov'ts Ag^nt'ed securities). 956,632 1,510,006

Other securities 8,804,860 3,492,848

Current account sundries.... 1,912,898 4,679,304

Advances on securities 2,690,705 4,920,797

Bank premises & furniture... 169,323 110,639

Advances to Government.... 909,901 909,901
Participations in advances to

Government 803,884 167,918

Current aoc*t with Gov'm't.. 36,376 281,924

Total 18,281,731 19,603,918



The monetary system of Turkey is bimetallic, with the piaster (equal to 40 paras 8 aspes) as
monetary unit. The gold coins are the 500, 260, 100, 50. and 25 piaster pieces, all of the same fineness,
viz., 0.916%.

The ratio of gold to silver was originally 1 to 16.09. By a decree the Government lowered the
value of the 20-piaster piece to 19 piasters, in consequence of which debasement the ratio of gold to



Online LibraryWilliam Usborne MooreThe Commercial year book → online text (page 11 of 125)