Te £ 
Auf ‚ 
ıg Financial 
rganisation 
of private firms can be bonded at the respective firms‘ warehouses. This, in connection with the 
provisions of the Customs Law concerning Drawbacks and Allowances, makes it possible to import 
goods without paying duty on them, to subject them to a process of refinement, if necessary, and 
to export them to another country, a procedure which is greatly facilitated by the existence in 
Vienna of an extensive and efficient commercial organisation. "The other eireumstance which 
enhances the importänce of Austria for the transit trade of Europe is the great advantage which the 
Western countries of the continent derive in their dealings with countries east of Austria through 
making use of Austrian firms as intermediaries. If one keeps in mind the fact that in South Eastern 
Europe a great number of languages, little known in other parts of the world, are spoken on a 
relatively small territory and’ if the great divergences are taken into consideration which those 
countries show in regard to the standard of life of the population, to business usages and terms of 
payment, compared with the conditions prevailing in Western Europe, the advantage of making 
use of an intermediary who is thoroughly acquainted with the respective markets and the languages 
spoken there becomes evident. 
In regard to the transit trade the quantities only and not the value of goods come under the 
Austrian statistics. Goods which through the agency of an Austrian firm are sold from one foreign 
country to another, without actually passing through Austrian territory, are not comprised, of 
course, in the statistics at all. No precise notion can therefore be obtained of the importance of 
Austrian transit trade from the available figures. To deal with the subject adequately would require 
a special study, while it is here intended to refer to the matter in a general way only and to point 
out some of the advantages which foreign businessmen may obtain from making use of the’ existing 
organisations. 
It is not possible to conclude a survey of the conditions which went to the making of Austrian 
foreign trade and especially of the transit trade, without mentioning the support which this branch 
of the economic life has found in the financial organisation of Vienna. The accomplishment of the 
task incumbent on the exporter, properly so-called, which, in many cases, is identical with that of 
the merchant engaged in transit trade, is dependent on the existence of an efficient banking apparatus 
with numerous well-known connections abroad and of full freedom of the traffic in international 
exchanges. This freedom Austria was the first among the Successor States to introduce. An exporter 
not only requires frequently accommodation with large credits which are necessitated by the purchase 
and sale of goods in foreign currency, but his business in many cases involves operations actually 
taking place abroad. The methods employed in regard to documentary credits, the exchange operat- 
jons necessitated by dealings with countries whose currency is not stable, and the manner in which 
remittance is made from overseas countries (e. g. South American Republies) are examples in point. 
The large Vienna banks, which are in a close organical connection with all branches of the economie 
life of Austria, are splendidly equipped to do all the work which may devolve on financial institutions 
in this connection. 
The fundamental conditions on which depend the development and the intensification of Austrian 
exports are therefore in existence. What has been missing so far, is a comprehensive information of 
foreign countries concerning the ability of Austrian industry and trade to compete successfully 
abroad, and the lack of adequate export directories has also been a handicap. This deficiency which, 
in view of the ecircumstances referred to in the preface, has been partially remedied only by this 
book, will be completely removed, it is hoped. in the course of time through later editions of the 
„Austrian Exporter‘“. 
la 
Zr 
‚U 
x