garia 19, rise to 23 for Poland, 25 for Yugoslavia and 27 for Hungary (see 
“The Economist‘“, October 2nd, 1926). . 
It would be short-sighted not to realise that it is now hardly possible for single states, in 
view of the train of economic thought now prevailing in a large part of Europe, to retrace their 
steps on a way, along which they have progressed so far. It is likely, on the contrary, that the 
movement in the indicated direction will gain in acceleration. Protection granted to one branch of 
the economic life must necessarily awake a desire for similar protection in other branches and an 
increase of tariffs in one country compels the adoption of a higher tariff in another country, the 
inerease of duties being found insufficient, as a rule, as soon as it has been introduced. An 
international solution of these difficulties, or at least a solution agreed upon by the prineipal 
European states, would alone be able to effect a change in this state of things which is now 
universally recognised as untenable. Such a solution has been attempted at the Economic World 
Conference held at Geneva (May, 1927) and at the Stockholm Meeting of the International 
Chamber of Commerce (June, 1927). As long as it is not effected, Austria will have to try to 
lirect her exports in an inereasing degree to markets further afıeld, whose customs barriers are 
either less high or have at least not been raised with a protectionist end in view. A movement in 
this direction has already been noticeable, though to judge from foreign trade figures, such a 
;endency has not yet been very pronounced during the last years. Endeavours to that effect would 
be favoured, one should think by the fact that a large number of Austrian products, in the export 
of which the geographical point of view is of secondary importance Only, were competing sSuccess- 
fully on the world-market in pre-war times already, thanks to their excellent quality or thanks 
to the originality of their forms and the artistic taste in which they are conceived and finished. 
Austrian industry and trade produce an increasing number of articles which are easily saleable 
on distant markets and it is the purpose of this book to draw attention to the respective branches 
of production. The share which the various countries had in Austrian exports, expressed in per- 
centages of the total amount, in the years 1924, 1925 and 1926 is shown in the following table. 
Czechoslovakia 
Germany . 
[alyı 0. 
dungary . 
Yugoslavia 
Rumania . 
Switzerland . 
Poland. ul 
Great Britain 
United States 
France . . 
Russia u 
Abessynia. . 
Japan‘ .. 
Bulgaria .. 
Netherlands . 
Trieste 2.00) 
British India 
German ports 
Turkey . . 
Beypt-. 
Greece . . 
Argentina . 
Sweden. . 
Ohina 
Denmark . . 
Belgium...) -. 
West Indies. .. .. ET 
a NA Se 
SP ES 
Ither countries . An 
1924 
111% 
18-1 
‘0-1 
8:8 
73 
5 
1925 
111% 
15:1 
10:4 
83 
9:0 
59 
7 
R 
4:6 
»9 
5 
a 
1926 
121%, 
118 
9:9 
9:8 
9:0 
4:8 
5 
9 
Y 
9 
e 
3 
Ä 
co ni 
int 
J 
(9 
f-O 
rg 
‘8 
fe 
05 
0:5 
05 
© Def 
0:2 8 
700 770000 a0, 
Foreign importers are not concerned, as a rule, with the geographical position of the place 
where an article comes from, but their interest is generally limited to ascertaining the quality 
and the price of goods. It will depend of the economic situation existing in the importing country, 
or of the conditions of the elass of the population which are the ultimate consumers of the 200ds, 
whether the one or the other moment will be decisive. In regard to quality it may be elaimed for 
Austrian products that the precision of their workmanship and the extraordinary amount of 
attention which is being devoted to their production distinguish them favyourably as a rule. The 
J'4 
International 
Agreements 
required