Bullion is reported in zolotniks, and .. an assay 96 fine represents pure metal.

Silver is quoted in copeks per zolotnik fine, and gold in paper roubles per 1 funt fine. Gold coins are quoted in paper roubles per piece.

The State Bank buys gold and silver at prices fixed from time to time.

These are quoted on Tuesdays and Fridays. Bills are for immediate or deferred delivery. Bills are sent to the buyer the next day with interest calculated to the day of negotiation.

The rate of interest is the bank rate of the foreign place except for bills on Germany, when it is the open market rate.

Interest is calculated at 30 days to the month and 360 to the year.

The brokerage isp.c.

There are 10 days of grace-not taken advantage of by banks and the best houses.

RUSSIAN BILLS.

On sight bills there are 3 days of grace.
There is no grace on unaccepted bills.

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Bills must be presented for acceptance within. 24 hours of receipt.

Bills due on Sunday or a Holiday are payable the day after.

Russian merchants pay on promissory notes of 6 to 9 months' currency.

The State Bank chargesp.c. (bills below Ro. 1000) or 1 per mille (bills above Ro. 1000) for collections on provincial centres.

The Russian calendar is 12 days behind the Gregorian-a fact not to be lost sight of in bills of exchange transactions.

The bill stamps run in a very irregular manner, being about 10-15 copeks per 100 Ro., and 60-70 copeks per 500 Ro. and so on.

These stamps are in force in Poland, but not in Finland.

Inland cheques pay no stamps, but cheques drawn out of Russia do so.

Money orders up to 5 days' sight drawn in Russia are exempt.

Bills in sets must all be stamped except in the case of one marked "for acceptance only" and crossed at the back.

(1) £9760, 3 mos. 24, 3 mos. 101-18. Discount, 2 p.c., 1p.c.

(2) Ro. 40,000, 3 mos. 241, 3 mos. 97.79. Discount, 3 p.c., 2 p.c.

(3) £712. 13s. 6d., 3 mos. 241, 3 mos. 97.85. Discount, 2 p.c., 14 p.c.

(4) 15,000 Ro., mos. 24ğ. Discount, 2p.c.

(5) £756. 88. 4d., 3 mos. 97.90. Discount, 2 p.c.

2. Indirect. London-S. Petersburg.

(1) Through Amsterdam, 12-3, 81-92.
(2) Through Berlin, 2038, 51.25.
(3) Through Paris, 25-19, 41-05.

Direct rates, 3 mos., London on S. Petersburg 23, S. Petersburg on London 97.50. Discount 3 p.c., 2 p.c.

How best to pay debts of £712. 10s. 4d., and R. 6834-72.

3. Compound arbitrated rate.

London-Petersburg.

By bills on Paris, bought in London at 25.26 and sold in Berlin at 82, the proceeds being sent to S. Petersburg in bills on Amsterdam at 171 and sold there at 83.

1 vedro 750.568 c. ins. =2.7069 imp. galls. = 12.2985 litres.

1 imp. gall.

100 vedro

1000 galls.

8 garnez

=3694 vedro.

=271 galls. (nearly).

= 369 vedro (nearly).

DRY.

1 tschetwerik.

8 tschetweriks=1 tschetwert.

1 garnez 200·1548 c. ins.=0·72186 imp. gallon=3.2797 litres. 1 tschetwert=0.72185 imp. quarters=209.9 litres.

1 imp. qr.=1.38533 chetwert.

1 chetwert=52 imp. bushels (nearly).

100 chetwert=72 qrs. (nearly).

LENGTH.

16 werschok=1 arschin=2 Russian feet.

1 fachin (sajen-fathom) = 3 arschin.

500 sajen=1 werst=3500 Eng. ft. 1.06678 kilometres.

1 arschin=28 inches (basis).

9 arschin 7 Eng. yds.

The English foot is used for timber.

The S. Petersburg standard (120 deals 12 feet long, by 1 inches thick, by 11 inches wide) is the basis of the Russo-English timber trade.

Land is measured by the crown dessatine (2400 sq. sajen) =2.7 acres 1 hectare.

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The common dessatine = 13 crown dessatine.

Since 1871 Spain reckons in pesetas and centesimos. These coins are the same as the franc and centime. The peseta is not legal tender: it weighs 5 grammes 835 fine silver.

The standard of Spain is exactly that of France, and the 5-peseta silver pieces of 25 grammes 900 fine are legal tender.

Before 1871 Spain reckoned in duros, escudos, reales, maravedis.

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The English exchange is quoted in pence per duro. The Mint Par (London-Madrid) is 1 duro peso 47.5785d. on the basis of 3100 pesetas per kilogramme gold 900 fine.

French 5-francs (silver) circulated freely at 19 reales -they are now current at 5 pesetas.

The principal old gold coin still in circulation is the doblon (quadrupel, onza de oro) = 320 reales. 320 reales. value 64s. 8d.-taken at 64s. in our Colonies.

Mint

The new gold coins are 5, 10, 20, 25, 100-pesetas, by law equal to the corresponding French coins in weight and fineness.

The peso duro or peso fuerte is the Spanish piastre or dollar which circulates largely in Africa, China, etc.

The Mexican dollar or peso-the principal export of Mexico-is the legal equivalent of the old Spanish silver (carolus) dollar, which it has quite displaced. It has become a large medium of exchange,