The Norsk measures are the same, but the foot is = 1·029 English, and the mile is of 36,960 feet (= 13,320 English yards = 7½ English statute miles). The only Icelandic measure of length is the Thingmanna-leið, or journey of the Thingman, about twenty English statute miles.

The Danish Pot is = 0·300 gallons; the Kanne is about three quarts, and the barrel of oil contains between twenty-five and twenty-six English gallons.

§ 3. Communication and Commerce.

Export trade began in Iceland from the date of its official colonisation. Long before the Norman Conquest, the Norwegian kings and jarls trafficked with the island. Snorri Sturluson mentions that King Ólaf Haraldsson (Helgi, or the Holy) made much profit by his transactions with Hallur Thorarinsson of Haukdal; and an edict of King Magnús Erlingsson (A.D. 1174) alludes to the annual cargoes of flour and other merchandise sent by the Archbishop of Nidarós. Already in the thirteenth century we find Iceland in commercial relations with England, and a little later with Germany. This “free trade,” which was on a considerable scale, presently fell before protection, and it did not recover itself till about the middle of the present century.

In a historical sketch of the island trade, published in 1772, an Icelandic author makes the following deductions:

I.The native trade was most advantageous to the island.
II.The Norwegian was honest.
III.The British was matchless; of every foreign trade it was the most complete and the most advantageous to the island.
IV.The German trade was unjust; it was, however, more tolerable than the
V.Danish trade, which took its place.

The union of Calmar (A.D. 1397) made it a royal monopoly, carried on only in vessels belonging to, or licensed by, the Crown. This system lasted till A.D. 1776, and, practically closing the country to all but a few privileged Danes, it was injurious as unjust. The island was thus threatened with the fate of Greenland, whose utter desolation probably resulted from want of home-supplies rather than from Eskimo attacks. English merchants were the principal interlopers, receiving fish in barter for meal and clothes: and in A.D. 1413 one of the first acts of Henry V. was to send five ships to Iceland with letters proposing that the harbours be opened to British hulls.

In A.D. 1602, and again in 1609, Christian IV. prohibited intercourse with the Hanse Towns, the powerful confederacy which had taken the commerce from the hands of the Norwegians and Danes; and in 1620 he bestowed it upon the guilds of Copenhagen, Malmoe, and other ports. They established the first Iceland company, which lasted from A.D. 1620 to 1662. The concession was granted on condition of its paying a small sum for the use of each haven, $2 to the governor for every ship that broke bulk, and contributing to the royal magazines in the Vestmannaeyjar. But when the great piratical irruptions in A.D. 1627 to 1630 proved them unable to provide for, and to protect, the island, as they had undertaken to do, the resentment of the Crown caused the shares of $1000 each to sink to half-price and eventually they fell to nothing.

After A.D. 1662 the trade of each haven was sold to the highest bidder once in every six years. In A.D. 1734 arose the second Iceland company, which paid an annual sum of $6000 to the Crown, and sent twenty-four to thirty ships, frequenting twenty-two havens. This monopoly again was a great grievance; it was injured by smugglers and interlopers, and, by its working, the island fell to its lowest condition. In A.D. 1776 arose the third Iceland company, nominally headed by the Crown, which directed a fund of $4,000,000, provided by the country. At the end of ten years, when the ships and stock were sold, the loss proved to be $600,000; the residue was placed under commissioners, and the latter had the power of lending money to those who embarked in the trade at the rate of 4 per cent.; 10 per cent. being then the legal limit. In A.D. 1787 the commerce, averaging $45,000 per annum, was exempted from all imposts for a period of twenty years, afterwards prolonged for five (A.D. 1812). As has been said, during the Danish war with Great Britain, a humane order in Council (1810) saved the island from absolute starvation. At length, after 250 years of a grinding monopoly, not, however, confined to Denmark, Iceland was finally reopened to free trade by the law which came into action in April 1854. At present there are no restrictions beyond taking out a licence or maritime passport at a cost of two shillings and threepence per ton of the ship’s burden. There are, or rather till 1872 there were, no duties on merchandise outwards or inwards, and foreigners now enjoy the same rights of trade, residence, and holding property as the natives.

After April 1854 the imports rose within ten years to a million and a half of rixdollars. Yet something remains to be done in facilitating trade, and especially in the matter of communication, seven mails a year being now utterly inadequate to local requirements.