Note 276 — Chapter XVIII · ON THE COMMERCE OF THE SEA OF AZOF.

That is when manufactured, but not when it is sold to the public, after having passed through the excise. The excise is farmed in Russia according to governments, and is let by auction for short terms of years. Mr. Tegoborski states, that last autumn (1854) the farms were relet, and that there was no diminution in the biddings, on account of the war. It has been for some time in contemplation to do away with the farming of the excise, and to introduce a system somewhat similar to our own.