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Rh and Moscow. It even opened a temporary branch at Nizhni-Novgorod, during the celebrated annual fairs. The services of this inquiry-office were employed not alone by German exporters but by Russian dealers as well. Thus the Germans knew more about the financial standing of the Russian businessmen than the Russian themselves.

The Germans spared no pains and paused before no difficulties, in trying to accomplish their main purpose, viz., to make articles of their manufacture indispensible in the Russian markets. English and American goods were never able to compete with the German in point of cheapness. When it did happen that other firms, foreign or Russian, succeeded in outselling the Germans in some commodity, the latter not only strove to regain their position by sending hosts of salesmen to different parts of the country, but even went so far as to establish their works in Russia. The case of factories producing machine parts, of which we have already spoken, is a notable example of this. The economy in transportation, and the absence of import duty usually enabled them, in such cases, to regain their places by driving out the competing firms.

Such considerations were responsible for the large number of German factories that sprang up in the Western provinces of Russia bordering on Germany, and now occupied by the German troops. Chemical works, machine shops, textiles factories grew up like mushrooms, created by the energy and the initiative of the German businessmen, who were ever securing a stronger hold on the Russian markets. Thus the markets of vast Russia, like the fat cows of Pharaoh's dream, was being swallowed up by the lean cows, the business firms of Germany.

The War has put a stop to this activity of the German business organizations which were developing and extending their field of action with almost incredible celerity. Whatever the outcome of the War, it is more than probable that the Germans will never occupy in Russia the position they have held hitherto. But the Russian markets still remain, with their needs increased by the War. They have to look to other sources of supply and will, in the near future, seek other sellers.

The development of Russia's own resources cannot, naturally, proceed rapidly enough to supply the immediate wants of the Russian markets. Russia will still, for many years to come, remain essentially a buying nation. A large export trade with such a country would be a profitable and mutually beneficial business activity for an enterprising commercial and manufacturing