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U.S.A. by three times, and from Germany by seven times. Other countries such as Italy and Czechoslovakia which prior to 1335 had little or no trade with Afghanistan have become new trade partners. On the other hand, due to the adoption of new trade policies by some countries their volume of trade with Afghanistan has declined. India, which used to be Afghanistan's leading partner, now ranks fourth in the latter's suppliers' list. The above analysis shows that the import trade of Afghanistan has followed a steady pattern with moderate changes during the year. Based on statistics provided by the Customs Houses, both export and import figures have increased, but the excess in exports has been much larger than the increase in imports. This has resulted in a surplus of 18 million in 1336, in contrast to the deficit of 124 million Afghanis in 1335. DA AFGHANISTAN BANK DA Afghanistan Bank was established in the year 1929 with an initial capital of 120 million Afghanis. As the country's central bank it issued paper money for the first time in 1930, and began a foreign exchange service. In 1943 it undertook the control of foreign exchange throughout the country. Da Afghanistan Bank was established on the basis of a Joint Stock Company, of which 93.33 per cent. of the capital belongs to the Government and the remaining 6.77 per cent. is privately owned. In accordance with its constitution, Da Afghanistan Bank has the monopoly of issuing bank notes in the country. Among its other duties are : (a) fixing the exchange rate, (b) regulating the rate and circulation of money, (c) regulating the exchange and market value of money, (d) conducting the Government's Treasury affairs, (e) taking the necessary measures for fixing Afghan currency with the concurrence of the Government. Da Afghanistan Bank issues and regulates paper money, supervises the affairs of the Treasury and those of the Govern-ment, municipalities and other Afghan offices inside and outside Afghanistan insofar as they are concerned with banking; participates in the issuing of legal documents pertaining to the Government and municipalities; purchases and sells gold and silver, foreign currencies, shares and loan documents; conducts safe deposit affairs and accepts savings accounts; gives loans to municipalities and, on conditions of public interest, to other banks, industrial and trade organisations, besides functioning in usual ways. The affairs of the Bank are conducted by a body 762 in strength. It has taken the initiative in establishing the country's other main banks: the Mortgage and Construction Bank; the Agricultural and Cottage Industries Bank; the Commercial Bank; and the Industrial Cassette. It has also established agencies in the provinces and outside Afghanistan. In the Autumn of 1954 the capital of the Bank was increased to 400 million Afghanis. A quarterly magazine entitled "Da Afghanistan Bank Magazine" was published for the first time in the autumn of 1956. This is issued free to people and organisations interested in economic affairs. The amount of paper money in circulation at the end of 1337 (early 1959) was 1,870 million Afghanis. A proportionate 98