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The imports and exports, special trade, are shown as follows, in thousands of milreis:

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The declared values of the leading "special" imports and exports in 1896 were, in milreis: Imports-Wheat, 3,896,506; cotton and cotton yarn, 2,404,026; wool, 1,120,197; iron, 1,672,979; coal, 1,742,991; sugar. 2,363,579; codfish, 2,270,096; leather and hides, 1,154,274; animals, 2,471,775; tissues, various, 3,623,563.

Exports-Wine. 10,982,831; cork, 3,893,064; animals, 2,519,262; copper, 1,091,593; sardines, 941,502; cotton tissues, 1,085,476: gold coin, 3,185,005. There were exported in 1896: 451,210,500 litres of common wine; 2,733,700 litres of liqueur wine; 22,537,000 litres of Madeira; 284,561,800 litres of port.

IMPORTS AND EXPORTS OF GOLD AND SILVER COIN AND BULLION.

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The milreis, or 1,000 reis, is of the value of $1.08, or 4s. 5d. in English money, and about 4.5 milreis to the £ sterling. Large sums are expressed in contos (1,000 milreis).

Bronze coins are 40, 20, 10, and 5 reis pieces.

The standard of value is gold. The English sovereign is legal tender for 4,500 reis. In the present derangement of the monetary system, Bank of Portugal paper is the chief circulation.

For gold and silver coins, see Index.

The Bank of Portugal, with a capital of 13,500 contos, or 13,500,000 milreis, has the exclusive right of issuing notes. It is the State's banker and the Treasury's disbursing agent. The notes of the Bank are guaranteed by debts owing by the State for advances from time to time by the Bank. On September 30, 1896, the situation of the Bank of Portugal was as follows: Metallic stock, 13,482,000 milreis; note circulation, 57,036,000 milreis; accounts current and deposits, 1,943,000 milreis; commercial account. 13,964,000 milreis; advances on securities, 1,943,000 milreis; balance against Treasury, 15,643,000 milreis.

DENMARK.

The area of Denmark is 15,289 English square miles. Its population in 1890 was 2,185,335. For earlier years, see ** Year Book," Volume I, page 16.

The actual revenue and expenditure for the years ending March 31 were as follows:

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The estimated revenue for 1897-98 was 66,847,101 kroner, and expenditure 64,734,189 kroner. The budget estimates for 1898-99 are: Revenue, 68,568,724 kroner; expenditure, 68,430,032.

The capital of the debt in 1897 was 196,405,438 kroner. The total foreign debt amounted to 66,515,250 kroner. The debt is mostly 3 per cent.

The total area under wheat, according to latest returns (1888), was 3,029,404 acres; potatoes, 128,849 acres; clover, 456,585 acres: bare fallow, 637,696 acres: meadow, etc., 2,625,865 acres. The leading crops in 1895 were: Oats, 37,904,403 bushels; barley, 22,327,839 bushels; rye, 17,123,621 bushels; wheat, 4.41,534 bushels; potatoes, 19,635,254 bushels; roots, 88,920,000 bushels; besides vegetables, hay, and clover. The total value of the product in 1894 was 262,858,982 kroner; in 1893, 264,490,310 kroner.

Foreign Commerce.

The following table shows the value, in kroner, of the imports and the exports of home produce, including precious metals:

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The principal classes of commerce are shown as follows, in thousands of kroner:

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The principal articles of import and export, with their respective values, in thousands of kroner,

are shown as follows:

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The following table shows the distribution of Danish foreign trade, in thousands of kroner:

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29,926

31,787

31,788

8,477

10,158

11,892

4,234

5,108

5,467

1,969

2,222

2,713

41,692

41,574

42,645

5,414

5,494

5,384

34,096

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9,041

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2,676

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1,610

1,373

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40,433
42,359

35,917
44,559

35,485

149,807

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5,359

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Shipping, Railroads, Telegraphs, Post-Office. (See Index.)

Money and Banking.

The monetary unit, the krone of 100 öre, is of the value of 26.8 cents.
For gold and silver coins, see Index.

The standard of value is gold. Silver is legal tender up to 20 kroner.
NOTE. For monetary system, see "Year Book," Volume I, page 75.

On July 31, 1897, the accounts of the National Bank balanced at 137,038,703 kroner. The assets included 32,720,821 kroner in bullion and 19,345,500 in specie. The liabilities included 88,000,000 kroner note issue, 27,000,000 kroner of capital, and 3,000,000 kroner reserve fund. In Denmark there are about 60 other banks for commercial, agricultural, industrial, and other purposes. In 1896 there were 534 savings-banks, with 1,030,320 depositors, and deposits amounting to 626,228,436 kroner, or 608 kroner to each account.

*"General" trade.

NORWAY.

The area of Norway is 124,445 square miles; and at the census of 1891 the population was 2,000,217, of which 76.3 per cent. were rural and 23.7 per cent. urban. Emigration to the United States was as follows: 1889, 12,597 1890, 10,898; 1891, 13,249; 1892, 16,814; 1893, 18,690; 1894, 5,591; 1895, 6,153; 1896, 6,584.

Fiscal Affairs.

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The following statement shows the principal items of the budgets of 1897 and 1898:

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4,000,000

Civil list..

349,682

361,466

Customs...

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Excise on spirits..

4,000,000

3,000,000

The Ministries.

1,322,459

1,331,986

Excise on malt.

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Succession tax.

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Stamps.

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Judicial fees.

1,000,000

1,000,000

Post, telegraphs, etc..

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Mines..

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State railways....

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Post-office.

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Roads, canals, ports, etc.

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1,400,000 1,530,000
2,876,284 2,886,854
8,712,000 9,701,300
5,443,737 6,179,874
3,975,629 3,937,503

Army.

Navy.

Finance and customs.

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Mines.

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Foreign Affairs.

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The following shows the amortization, growth, and interest of the public debt, years ending

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Of the total area, 75 per cent. is unproductive, 22 per cent. forest, and 3 per cent. under cultivation. At the end of 1890 there were 146,355 farms, mostly worked by their owners.

In 1890, the area under cereals was 185,605 hectares; potatoes, 39,128 hectares. The estimated yield of cereals was 5,962,353 hectolitres; of potatoes, 8,441,403 hectolitres. The total value of the produce was for cereals, 38,262,761 kroner; for potatoes, 24,807,136 kroner.

The value of cereals imported (including flour) was 31,784,700 kroner in 1895; the principal article being rye, 14,647,200 kroner. The import of butter amounted to 1,667,900 kroner, and of bacon and meat to 7,261,900 kroner. The total value of the coastwise fisheries in 1884 was $6,137,261.

The total area covered with forests is estimated at 26,320 square miles, of which 73 per cent. is under pine trees. The State forests occupy 3,870 square miles, administered by a forest staff under the supervision of the Ministry of the Interior. The value of unwrought or partly wrought timber exported from Norway in 1895 was 27,777,800 kroner, and of wrought timber, 15,833,000 kroner.

Foreign Commerce.

The total imports and exports of Norwegian and foreign goods were as follows, in thousands of kroner:

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*Of this amount 19,131,560 kroner were applied to the redemption of a former loan.

The values of the imports and exports, in thousands of kroner, were as follows:

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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.

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

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Exports.
$106,130 1891

Year.

1,135,330

200,840

1892.

104,790

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64,240

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95,780

780 1895.

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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 31, 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 1896. 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-At End of Year.

Year.

1890.

1894.

1895.

1896..

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SWEDEN.

Area and Population.

The area of Sweden is stated at 172,867 square miles.

The progress of population from 1800 to 1896 has been as follows: 1800, 2,347,303; 1820, 2,584,690; 1840, 3,138,887; 1850, 3,482,541; 1860, 3,859,728; 1870, 4,168,525; 1880, 4,565,668; 1890, 4,784,981; 1896 (estimated), 4,919,260.

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:

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

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

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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 31⁄2 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 3% per cent., 33,777.778; provisional loan of 1891 at 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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