Miltitz near Leipzig, October/November 1903. 
The sketch of the economic condition of Germany presented in 
our Report of last April gives on the whole still a true picture of 
the present situation. No changes of any importance can be recorded, 
and in fact may not be expected until the negotiations concerning 
the new commercial treaties have been brought to an end. 
So long as this question has not been settled, a certain check will 
be put to the spirit of commercial enterprise. It is greatly to be 
desired that the negotiations may now soon commence and be con- 
cluded, and that practical men representing every important branch of 
Industry may take part in them. Nothing has a more restraining 
effect on commercial intercourse than a long-continued period of un- 
certainty, w^hich to remove is the urgent wish of the whole com- 
mercial community. 
In our Industry a brisk activity has prevailed also during the summer, 
and the export- statistics of the first half-year of 1903 are favourable. 
The statistics for 1902, which have now also been published, show a 
considerable increase both in the imports and the exports. 
The total exports of essential oils from Germany amounted 
in 1898 to 287 100 kilos, value 2871000 marks 
„ 1899 „ 351000 „ „ 3862000 „ 
„ 1900 „ 380000 „ „ 4634000 „ 
„ 1901 „ 388000 „ „ 4658000 „ 
„ 1902 „ 424700 „ „ 5683000 „ 
The total imports, on the other hand, were 
in 1899, 416000 kilos, value 5938000 marks 
„ 1900, 421000 „ „ 5631000 „ 
„ 1901, 417000 „ „ 5192000 „ 
„ 1902, 408886 „ „ 6309000 
