The Iceland year-book - 01.01.1926, Side 72

volutionized. Until 1895 practically all Icelandic
trade was barter, but in that year the present
British Consul, in partnership with two young
Scotsmen, opened business on a large scale in
Reykjavik and introduced the principle of buying
and selling for cash. Co-operative societies were
formed during the last quarter of the 19th century,
and through many vicissitudes and failures the
movement has since continued to gain in strength,
especially among the rural population, and the
majority of the organizations have now combined
and formed what is known as the Federation of
Icelandic Co-operative Societies. Wholesale houses
are now numerous, but most of these have been
established during the last ten or twelve years. In
1917 the Icelandic Chamber of Commerce was
formed under the presidency of Mr. GarSar Gisla-
son, who has since almost uninterruptedly con-
tinued to fill that office. The Chamber publishes a
monthly journal, the Verzlunartidindi, or Com-
mercial Gazette.
The foreign trade of Iceland has increased
very rapidly during the last quarter of a century, in
fact since the trade restrictions were removed.
About that time the total value of imports and
exports was only some 3 million kr.; at the end
of the last century this had risen to 22 million,
and in 1924 to about 140 million, of which 00
million were imports and 80 million exports.
During the war, and until the end of last year,
the Government had a trading department, but
Government trade appears now pratically to have
come to an end, except in spirituous liquors and
petroleum.
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