7G 
But in 1927 the Landsverzlun passed out of existence, wheras 
Afengisverzlun rilisins (The State Monopoly of Wines and Spirits), 
established in 1922, has the exclusive right to import all the wines and 
spirits within the limits of the prohibition law. 
In 1917 the merchants of Iceland established the Verziunarsd Is- 
fands (Iceland’s.Chamber of Commerce) with head quarters in Reykjavik, 
to act on their behalf abroad. It issues a Commercial Gazette (a monthly) 
and has set up a court of arbitration in commercial and shipping affairs. 
There are two commercial schools in the country, both in Reykjavile 
and both partly supported by the State. One, having a three years course, 
is under the control of the Chamber of Commerce; the other, with a two 
years course, is managed by the Union of Cooperative Associations 
for the special purpose of training ils pupils for cooperative business. 
In 1928 an Industrial Council was established in Reykjavik, composed 
of representatives for the various branches of industry, for the pur- 
pose of protecting their common interests. But no general organization 
of this kind, embracing the whole country, has as vet been formed. 
DUTIES 
The duties which have gradually been imposed on imported goods, 
have been levied almost exclusively as a means of revenue, and not 
for the purpose of protecting Icelandic produce. They have, therefore, 
chiefly been run on such commodities as are more or less looked 
upon as articles of luxury, as e. g. all wines and spirits, tobacco, 
coffee, sugar, chocolate, and lozenges. When the law prohibiting the 
importation of spirits became operative (1912), import duties were 
levied on almost all kinds of imported goods (the Goods Tax), to make 
good to the treasury the loss of the Spirit Tax. But these duties were 
not heavy, and all taxable goods were divided into only 6 (later 7) groups. 
Since then these duties, which are all weight duties, have been some- 
what raised. In 1924, owing to the unfavourable rate of the kréna, 
taxes on all imported goods (except grain) were increased by 25 per 
cent., a measure which to some extent is fo remain in force till the close 
of 1930. The same year an ad valorem duty of 20 per cent. was im- 
posed on various articles on which a goods tax is payable. This duty 
has since been repeatedly altered, either for the purpose of raising or 
reducing it. But at present (to the close of 1930) it is in most cases 
levied at the rate of 15 per cent., while in a few instances it rises to 
as much as 30 per cent. 
Though the Customs Act at present in force dates from 1911, most