--+------+------+------+------+------+
| Articles. | 1900.| 1901.| 1902.| 1903.| 1904.|
+----------------------------+------+------+------+------+------+
| Raw material (as above) | 34.1 | 34.1 | 35.9 | 39 | 35.3 |
| Semi-manufactured goods | 12.6 | 11.1 | 11.1 | 12.4 | 12.6 |
| Manufactured goods. | 34.2 | 33.3 | 32.8 | 37.2 | 38.3 |
+----------------------------+------+------+------+------+------+

The most important place of derivation and of destination for the
Austro-Hungarian trade is the German empire with about 40% of the imports,
and about 60% of the exports. Next in importance comes Great Britain,
afterwards India, Italy, the United States of America, Russia, France,
Switzerland, Rumania, the Balkan states and South America in about the
order named. The principal articles of import are cotton and cotton goods,
wool and woollen goods, silk and silk goods, coffee, tobacco and metals.
The principal articles of export are wood, sugar, cattle, glass and
glassware, iron and ironware, eggs, cereals, millinery, fancy goods,
earthenware and pottery, and leather goods.

_The Austro-Hungarian Bank._--Common to the two states of the monarchy is
the "Austro-Hungarian Bank," which possesses a legal exclusive right to the
issue of bank-notes. It was founded in 1816, and had the title of the
Austrian National Bank until 1878, when it received its actual name. In
virtue of the new bank statute of the year 1899 the bank is a joint-stock
company, with a stock of L8,780,000. The bank's notes of issue must be
covered to the extent of two-fifths by legal specie (gold and current
silver) in reserve; the rest of the paper circulation, according to bank
usage. The state, under certain conditions, takes a portion of the clear
profits of the bank. The management of the bank and the supervision
exercised over it by the state are established on a footing of equality,
both states having each the same influence. The accounts of the bank at the
end of 1900 were as follows: capital, L8,750,000; reserve fund, L428,250;
note circulation, L62,251,000; cash, L50,754,000. In 1907 the reserve fund
was L548,041; note circulation, L84,501,000; cash, L60,036,625. The charter
of the bank, which expired in 1897, was renewed until the end of 1910. In
the Hungarian ministerial crisis of 1909 the question of the renewal of the
charter played a conspicuous part, the more extreme members of the
Independence party d