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TRADE
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vious year, the imports of 1902 were less in the amount of ₤117,914, while exports had declined ₤7567. Large stocks were carried over from 1901, hence some depreciation in the volume of the trade was inevitable. However, for the better comprehension of the economic relations of Korea with the trade of foreign countries, I have collected the returns of the years, with which I have dealt here, in one simple table, to which is added a quinquennial average, covering a period which begins with the year 1898.

PAVILION ON THE WALL OF THE CAPITAL