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512
viii. commerce.
and another with foreign. The Board of Trade is under the Finance
Department. A number of matters dealing with foreign trade are taken
by the Foreign Office, whose trade department is under the direction of
a Bureau Chief.
For the consideration of more important trade questions the Foreign
Minister and the Finance Minister are entitled to call to their assistance
the so-called Commercial Council, whose members, to the number of
seven, are nominated bs^ the Government from amongst practical leaders
of trade, industry, and shipping.
As a medium for the leaders of industry themselves, the Chambers of
Commerce, founded by voluntary co-operation, have by degrees assumed
increasingly great importance.
No special trade courts exist in Sweden, but, on the other hand, in the
hearing of certain cases in the borough courts in our three largest towns
trade experts are called as members, and these are nominated by the
town councils.
The Consular Service, which before 1906 was in certain respects under the
control of the Board of Trade, is now, like the diplomatic corps, entirely
subordinated to the Foreign Minister, and consular questions are dealt with
by the Foreign Office; what has to do with its personnel, organization, etc. by
the trade department of the Foreign Office. The different grades among
consuls are Consul-Generals, Consuls, and Vice-Consuls, besides which, to assist in
the execution of the consular business, are appointed clerks and attachés. The
consuls of the different grades are either officials sent out from home (salaried
consuls, consules missi), or else merchants or other suitable persons living on
the spot (unpaid consuls, consules electi). The latter have the right to
reimburse themselves for office expenses in connection with their duties without
rendering accounts. Salaried consuls must be Swedish subjects, which is not
a condition for the unpaid ones. Consul-Generals, consuls, and salaried
vice-consuls are appointed and dismissed by the King, but unpaid vice-consuls and
other officials by the Foreign Minister. — The duties of consuls are with
faithfulness and zeal to watch over Sweden’s interests, and to the best of their
ability to promote the country’s welfare, especially in the matter of trade,
shipping, and industry. They are also, as far as lies in their power, to protect
Swedish subjects, their property and rights, and to assist them with advice and help.
The Stock Exchange, as an institution, is but little developed in Sweden.
Stockholm and Gothenburg possess fine Stock Exchange buildings, and several
other towns posses similar premises. Brokers (so-called "official brokers") are
accepted by the commercial and shipping boards of the respective towns,
after which their nomination is issued by the magistracy. At the present time
the members of the Stockholm Stock Exchange consists of 5 brokers, 16 banks,
and 8 banking firms ("free" brokers). The stock exchange business done in 1912
amounted to 317 million kronor and in 1913 to 180 millions.
The institution of a Clearing House was not introduced into Sweden until
1899, since which time the Bank of Sweden has maintained premises and a
personnel for a clearing house in Stockholm.1 (The cashing of country notes,
1 By "Clearing House" is to be understood an institution by means of which the different
banks can daily arrange a mutual exchange of bills and cheques, so that payment or
transfers need only be arranged for balances due between the diiferent banks. The total of the
business dealt with by the London Clearing House amounts to over a hundred milliards of
kronor a year.
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