TRADE 
ORGANIZATION 
Though in olden times trade with Iceland was carried on equally by 
[celanders and Norwegians, vet, as time went on the number of Ice- 
landers engaging in the foreign trade gradually decreased, owing to 
lack of ships; and, when Iceland, shortly after the middle of the 13th 
century, became united with Norway, the Icelandic trade was wholly in 
the hands of the Norwegians. After the union with Norway- Denmark 
the kings began to make their influence felt by imposing various re- 
strictions on the Iceland trade, with a view to granting the port of Bergen 
in Norway a monopoly of it. But as these orders of the kings were 
not rigorously enforced, the greater part of the Icelandic import and 
export trade throughout the 14th and 15th centuries was in the hands 
of the English and the Hamburghers. In 1602 a complete monopoly was 
established in Iceland, a policy which was continued down to the end of 
the year 1787. During this period the trade was generally either granted 
as a monopoly fo commercial companies, or carried on by the govern- 
ment for the king's account. But on the 1th of January 1788 it was 
made free to all subjects of the Danish Crown, and finally, in 1855, 
to all nations. 
Since 1855 the number of permanent business houses in Iceland has 
increased enormously. This increase, though at first gradual, has during 
the last thirty years or so been very rapid, as may be gathered from 
the following figures, giving the number of permanent concerns: 
1855 
1870 
‘880 
890 
200 
910 
920 
.207 
58 
62 
78 
137 
208 
122 
303 
332