The import trade with England has been fairly active during the past year, notwithstanding the very high import duty exacted, to which are to be added municipal dues, road tax, and mole dues.

The following have been the rates of exchange on London for bills at three months' date. It may be well to mention that 28 drachmas are equal to 25 francs in paper:

The Greek Government having had occasion to raise large loans for war purposes, especially from the national bank, it has been impossible, to do away with the forced currency; indeed, the only wonder is that the paper is not more depreciated in value than it is.

Of course the unsettled state of the country has a considerable prejudicial influence on trade, but not so much so as might be expected, considering that according to current reports war may break out at any time. Although people talk very glibely about war, I think most of them are convinced that something will turn up to prevent it. The Greeks are too sharp not to know that they would be at an immense disadvantage if they had to cope solely with the Turks, and I cannot believe the government will ever arrive at the point of formally declaring war, but they will sail so close to the wind that there is always the fear that they may overshoot the mark. Their finances are in a wretched state, and daily becoming worse; the loan of 120,000,000, of which it was reported that 25,000,000 had at once been taken up by wealthy Greek bankers abroad, I fear will prove to be without foundation, the report having been circulated to induce capitalists to subscribe. A fur

ther loan, however, they must raise, and the only way I can see of their doing so is by going again to the banks and allowing them to have a still larger forced currency, or by the government issuing forced paper of its own.

I append a translation of a short history of the Laurium mines, taken from a local paper, the Parateretes, which states that the account is taken from European papers, but which have not come under my observation. It may prove readable to persons interested in such matters. E. HANCOCK, United States Consul.

UNITED STATES CONSULATE,

Patras, February 28, 1882.

[Inclosure in foregoing report of Consul Hancock.]

THE MINES OF LAURIUM.

The name of Laurium means the region that forms the southern portion of Attica, in which are situated the mines of the ancient Greeks. About the year 1863 some foreigners visiting the spot, and making tests on the scoria and the remains of the ancient smelting places, found that they still contained some metals. These plots of land were the private property of the inhabitants of those parts. There was then formed a small company, which bought and hired these lands. They erected furnaces, foundries, and from the smelting of the ancient scoria and the refuse there resulted large profits on account of the argentiferous lead which they contained.

The brilliant result of the above-named company having become known throughout Greece, the Greek press commenced irritating the public opinion against the company, showing plainly that they ought to take from the hands of strangers the millions which the ancient Greeks bequeathed to their descendants. Hence arose disputes and oppositions of every kind, and the question went as far as diplomatic negotiations, and finally, about the year 1873, a Greek company bought all their rights, their buildings, their tramways, and the mechanical works of this Franco-Italian company for the sum of 14,000,000 drachmas. This new company acquired the right of working the old scoria and the "ekvolades"; that is to say, the earthy remains lying in heaps, originating from the metal existing in the hills and from the mines, the amount of metal therein contained not having been considered by the ancient Greeks as enough to be worth submitting to the melting process. Since then the formerly existing Franco-Italian company has been formed anew, with a capital of 12,000,000 francs, and a concession for working the principal mine, called the mine of Laurium. Both the companies are working now, one against the other, and not without constant disputes between them. The Greek company, as we mentioned before, took upon itself the smelting of the ancient scoriæ, and besides this they tried to reap a profit from the "ekvolades." But, however, after four or five years of work the bulk of the quantity of the scoria was exhausted, and the company was obliged for the continuation of its existence to depend only on smelting the "ekvolades." But these do not contain as much metal as was contained in the scoriæ, and before being smelted they must be cleared from the earth and from the sand, an operation which occasions fresh expenses and requires movable and immovable washing machinery. which it found itself obliged to buy. This machinery, not movable, is put in motion by two steam-engines of 320 horse-power, the establishing of which cost 2,800,000 francs. The stones are transported from the neighboring places by a tramway, and are thrown into large boxes having iron grates, and are washed, and, so cleared, are crushed into pieces of equal size and are placed in the smelting ovens, and the sand that it contains and earth that comes out from the washing fall into the basin constructed on purpose, and from which bricks are afterwards made.

The necessary water for the washing is conducted by channels through the means of steam-pumps, which furnish 15 cubic measures per minute. Each month there is washed a quantity of rough matter corresponding to 2,200 tons, which yield 14 per cent. of lead and 1,000 to 1,500 grains of silver from each ton.

There are twelve smelting ovens, of which eight are at work, and four are substitutes; it is proper, however, to state that they are of great power, because the broken materials only contain 75 to 80 per cent. of metal, whilst the old scoria contained 16 to 18 per cent.

In various neighboring places there are at work about twenty washing-machines,

but notwithstanding all the inquiries about them, it has not been postively ascertained what quantity of raw material they yield.

According to asseveration of persons well informed, they give daily about 20 to 22 tous of lead. The expense required for each ton is 35 drachmas. Five hundred and fifty work-people are engaged at the ovens and at the immovable machines; 880 collect in the neighborhood the “ekvolades,” and superintend their washing and transport to the ovens. The greatest part of the work-people are Greeks from the islands, Italians, and Maltese, and the wages are about 1 to 3 drachmas per day.

It is to be observed that "ekvolades" are to be found in large quantities in mounds, and look like hills; it is calculated that they can furnish materials to last for sixty years.

Besides these there exists a smaller quantity of another sort of scoriæ containing 44 per cent. of brass, 14 per cent. nickel, and 50 per cent. iron; all the ekvolades contain a certain dose of arsenic, which was apparent from the effects on some of the work-people.

The number of people employed by the company, superintendents, engineers, machine-workers, and work-people, amount to 3,000. The other company, called "Companie Francaise des mines a Laurion," digs up the ore of the new mines and of the old, and carries out its operations with cleverness and specialty, having always the necessary means complete; however, no one can deny that it was favored by fortune in the selection of the bed of the mines, from which the favorable operations rendered it able to give, in 1878, a clear profit of 1,800,000 francs.

The above-named company is especially occupied in extracting zinc and brass, which is submitted to the smelting operation by simple evaporation, and is sent in an unfinished condition abroad. Besides the lead is melted, which contains 3,500 grains of silver in each ton. The foundries and the smelting ovens are the same as those of the Greek company, but rather more favorably and suitably placed; the number of work-people and employés is 2,900. It is remarkable the mines worked by the ancients were only 50 centimeters high, and the same width, so that it is not at all unlikely, that the slaves who then worked in such a narrow space were not able to observe and make use of the veins of rich minerals. At present all these mines are widened, and greater Leight is given to them; they yield monthly raw material about 2,000 tons, which contains 50 to 55 per cent. of metal. Some of these mines extend to the distance of a mile. In the passage there are placed metal rails leading to the principal pit, to which the material is transported by steam-engines, and where it is drawn to the surface.

It is asserted by persons who are good judges that there exist such rich beds of metal that they insure to the French company large gains for many years.

During the past year 22,000 tons zinc, lead, and brass were shipped by English vessels, and 18,000 tons by French.

Further small mines belonging to small companies have been sold to the Greek, and some to the French company, but if things continue as at present this latter company will swallow up all the others, they naturally not being able to compete with it. The wonderful progress of this company will necessarily open the eyes of the natives so that they may consider that it is a work of folly to let such an undertaking slip through their hands, enriching strangers at their expense.

ROUMANIA.

Annual commercial report by Consul-General Schuyler.

UNITED STATES CONSULATE GENERAL,

Bucharest, September 30, 1881.

AGRICULTURE.

One of the great difficulties of the agriculturist in Roumania has been that it was difficult for him to borrow money, not only because until recently he was obliged to pay a high rate of interest, but also because by the civil code the owner of the land had a prior claim upon the stock and crops belonging to the farmer, and in the provinces of Great and Little Wallachia the lands are chiefly farmed. A law was promulgated on the 8th (20th) of June, 1881, which obviates these de

fects in the civil code, and at the same time establishes in each district an agricultural credit company, from which agriculturists can borrow money on the security of their stock and crops. The capital of each company will be from $30,000 to $60,000. The feeling against foreigners, and especially against the Jews, which has unfortunately become so widely spread in Roumania, is shown in two provisions of this law. By one the shares of these companies can be bought only by Roumanians engaged in agriculture or industry, and by the other the benefits of the law are given only to agriculturists who are Roumanian citizens born or naturalized. The Roumanian laws do not yet give Roumanian citizenship to persons born in the country unless they are the children of Rou- . manian citizens. No matter how long their families may have lived in the country, if not of Roumanian origin they must be naturalized by a special law a provision particularly directed against the Jews, but affecting also the Greeks. The Jews are seldom agriculturists in Roumania, but a very large and important proportion of the farmers are foreigners-Greeks, Bulgarians, and Armenians-and have done no less than others for the increase of agricultural production.

Unfortunately for the country, the harvests have not been good. It is estimated that in the agricultural year of 1880-'81 there were sown as follows:

Tobacco, potatoes, beans, lentils, anise seed, and hops were cultivated to the extent of 259,915 acres.

The production some time ago was estimated to be as follows:

The production of alcohol was estimated at 794,244 gallons. Tobacco, potatoes, beans, lentils, pease, anise seed, and hops were estimated to give a production of 156,554,822 pounds.

The above estimates are taken from information published in the Curierul Financiar of July 17, 1881, and purport to be derived from authentic sources.

Owing to bad weather, these estimates must be very greatly reduced. There were great rains and floods in the summer, and the grain harvest came at the same time as the second hoeing of the maize. This crop

has also suffered much. According to the reports of the Austro-Hungarian consuls and merchants inclosed in my dispatch No. 31, of September 6, 1881, the crops must be taken at much less than the average. Other Roumanian authorities put the yield of wheat at 60 per cent. of an average harvest in Wallachia, and in Moldavia wheat at 100, rye at 105, barley 90, and oats 90.

The immense exportation of grain from the United States has caused alarm here, and it is seen that some improvements must be made, or Roumania will lose a market for her chief article of trade. In order to diminish the cost of the transport of cereals, it has at last been decided to build some grain elevators, and a concession for forty years has been given for the port of Galatz. The buildings must be finished within three years, and the maximum tax for loading, cleaning, &c., is 2 francs per chila (about 3 cents per bushel). The company must deposit $200 a year as a guarantee that the buildings will be delivered to the city in good condition at the end of the concession. A similar concession has been granted at Braila.

The Dobrudja.-Unfortunately for the agriculture of the country, the question of landed property in the Dobrudja is as yet unsettled. It was arranged by the government that the old Turkish proprietors and others claiming lands in that province should, before October 23, 1881, present the evidence of their titles to local commissions, which would then be reviewed by a central commission at Bucharest. It was expected that before that time a law would be passed which would regulate the possession of property. Much irregularity has taken place. Many Turks with claims have arrived in the Dobrudja only to find that the local commissions were not in session, and it is asserted that many perfect titles have been disregarded by the Roumanian authorities, who are thought to be anxious, under the conflicting Mussulman jurisprudence about landed property, to quash as many private titles as possible and claim the greater part of the lands as belonging to the state. It is understood that a prolongation of the term will be granted, but meanwhile very rich tracts of land remain uncultivated, and the hardworking, industrious Tartars who chiefly inhabit the province are emigrating. As the Roumanian constitution does not allow colonization except by men of Latin race, the government will be at a loss to find fresh inhabitants.

Tobacco.-Up to 1865 the culture of tobacco in Roumania was free. Since that time a tobacco monopoly has been introduced, which, although it may serve the interests of the treasury, is detrimental to the general interests of the country. The monopoly is now in its third phase. In 1879 it was taken from the company which worked it, and is now in the hands of the state, and managed by a council of administration. The introduction of the monopoly has not only put a stop to the exportation of tobacco, but it has greatly restricted its cultivation. To cultivate tobacco it is necessary to have a permission from the administration, which buys up the entire crop, and therefore limits the permission to a certain number of acres, according to its own wants. The seeds have to be renewed every two years. The finer qualities of native tobacco are called Turkish seed. The importation of foreign tobacco is forbidden to private persons, but the monopoly is obliged to purchase a considerable quantity.

The monopoly by the state began operation on the 6th (18th) of April, 1879, and, according to the official statements, the sales of tobacco during the remainder of the year 1879 amounted to $3,006,461.26. The expenses of the administration for the purchase of tobacco, manufacture