171 



grain and other agricultural products. Regular official bulletins are 

 issued monthly, and sometimes more frequently, showing the extent and 

 value of its commercial operations. From two bulletins issued January 

 12 and January 15, 1874, and signed by H. Wiilenz and Simon Bernstein, 

 courfier.s-Jurees, are gathered the following statistics of the trade of 

 1873 : 



The course of trade during the year was marked by numerous fluctua- 

 tions, sympathizing with changes in foreign markets. In the middle of 

 the year prices were very high, and in almost every case higher, in pro- 

 portion, than in the markets of consumption. The reason of this is 

 found in the great rise of prices in other markets, coming upon the heels 

 of the very i^oor crops of the regions adjacent to Odessa. It Avas neces- 

 sary to depend upon arrivals from the north of Bessarabia, from the 

 governments of Kieff and Podolia, where cereal crops were good in 

 quantity and very satisfactory in quality — in fact, finer than for many 

 years. The campaign was opened at prices unexampled at that period 

 of the year and such as were customary only at its close. 



During the entire year, in spite of declining movements in the great 

 markets of consumj)tion, prices at Odessa were, with slight variations, 

 constantly sustained. This was the result of light stocks in depot. A 

 daily accretion of 25,000 to 30,000 tchetverts by rail, and 40,000 to 50,000 

 by way of the Dnieper, scarce met the wants of the local and coast 

 trade, a branch of commerce already large and constantly increasing. 



The wool-business was almost neglected till the end of May. Im- 

 portant purchases on French account, at the fair of Charkoflf, during 

 June, j)rodnced a rise of 2 roubles the poud, in the price of fine wools in 

 grease, raising the quotations to 10 roubles the poud. The rouble is the 

 standard silver coin of Russia, but varies in value, according to date of 

 coinage, from 73 cents to 80 cents. The poud is equal to 36.007C4 pounds, 

 llussian purchasers declined purchasing at these enhanced prices, and 

 the former calm was re-instated as the prices abroad gradually declined. 

 Washed fine wool was neglected the whole year, the prices ranging from 

 24 to 27 roubles the poud. White Donskoi was in but moderate demand 

 at lOi roubles the poud. 



No commercial disasters were exi)erienced during the year. The 

 financial crises of Austria, Germany, and America necessarily produced 

 some stagnation in business, lowering jirices, and compelling-some hold- 

 ers to realize at a loss. Russia, among commercial countries, was least 

 affected by these crises, yet its enlarged speculations, provoked by the 

 inflation of currency, felt the spasmodic contraction severely. The com- 

 merce of Odessa suffered but little from the reaction compared with 

 other great marts of Europe. A decline in imports is noted as one of 

 the results of the crisis, but the prospects of an enlarged business were 

 quite satisfactory. 



The stability of exchanges, which, in the report of 1872, was referred 

 to the monetary unity of Odessa trade, was still more marked and sat- 

 isfactory during the critical year of 1873. The range of fluctuation 

 was quite limited. London exchanges variedfrom 7.30i to 7.48i, against 

 7.22 to 7.41 J in 1872: Marseilles from 3.42i to 3.50, against 3.46 to 3.56^ 

 in 1872. 



The following tables will give a general idea of the commercial trans- 

 actions of 1872 and 1873: 



