t of communications. The primitive system of
barter in kind still exists in the rural districts, but is gradually
disappearing. The great fairs (_panairi_, [Greek: panegureis]) held at
Eski-Jumaia, Dobritch and other towns, which formerly attracted multitudes
of foreigners as well as natives, have lost much of their importance; a
considerable amount of business, however, is still transacted at these
gatherings, of which ninety-seven were held in 1898. The principal seats of
the export trade are Varna, Burgas and Baltchik on the Black Sea, and
Svishtov, Rustchuk, Nikopolis, Silistria, Rakhovo, and Vidin on the Danube.
The chief centres of distribution for imports are Varna, Sofia, Rustchuk,
Philippopolis and Burgas. About 10% of the exports passes over the Turkish
frontier, but the government is making great efforts to divert the trade to
Varna and Burgas, and important harbour works have been carried out at both
these ports. The new port of Burgas was formally opened in 1904, that of
Varna in 1906.

In 1887 the total value of Bulgarian foreign commerce was L4,419,589. The
following table gives the values for the six years ending 1904. The great
fluctuations in the exports are due to the variations of the harvest, on
which the prosperity of the country practically depends:--

Year. Exports. Imports. Total.

L L L
1899 2,138,684 2,407,123 4,545,807
1900 2,159,305 1,853,684 4,012,989
1901 3,310,790 2,801,762 6,112,552
1902 4,147,381 2,849,059 7,996,440
1903 4,322,945 3,272,103 7,595,048
1904 6,304,756 5,187,583 11,492,339

The principal exports are cereals, live stock, homespuns, hides, cheese,
eggs, attar of roses. Exports to the United Kingdom in 1900 were valued at
L239,665; in 1904 at L989,127. The principal imports are textiles, metal
goods, colonial goods, implements, furniture, leather, petroleum. Imports
from the United Kingdom in 1900, L301,150; in 1904, L793,972.

The National Bank, a state institution with a capital of L400,000, has its
central establishment at Sofia, and branches at Philippopolis, Rustchuk,
Varna, Trnovo and Burgas. Besides conducting the ordinary banking
operations, it issues loans on mortgage. Four other banks have been founded
at Sofia by groups of foreign and native capitalists. There are several
private banks in the country. The Imperial Ottoman Bank and the Industrial
Bank