BURSA DIN CONSTANŢA (SFÂRŞITUL SECOLULUI AL XIX-LEA – ÎNCEPUTUL SECOLULUI AL XX-LEA)
THE STOCK EXGANGE OF CONSTANTA (END OF THE 19TH CENTURY - BEGINNING OF THE XX CENTURY)

Summary/Abstract: This study is dominated by the explanation of the phenomenon represented by the introduction of the stock exchange in the economic exchanges and the offering of a general view of the Romanian commercial internal organization after the 1883. After obtaining political independence in 1878, Romania also aimed to strengthen its economic presence on the international markets. The new commercial orientation of the country towards Austria-Hungary, through the provisions of the Customs Convention of 1875, had visible results on the overall trade of Romania during the period of commercial war (1886–1892) against the Dual Monarchy. Profound changes in the structure of the Danubian ports of Brăila and Galaţi and the maritime port of Constanţa were introduced in 1883. The free port regime was abolished, and the liberal government in Bucharest started to impose its intention of constructing warehouses at Brăila and Galaţi. Another important measure was the emergence of stock exchanges in the two outlets. This paper aims to present the grain trade carried through the bourse of Constanţa. It aims to show how the flow of information arrived from the European deposit ports and world markets via telegraph, telephone, and media influenced the transactions on the stock exchanges of Brăila, Galaţi and Constanţa. The stock exchange of Constanţa was established in 1898 with the aim of encouraging the maritime trade of Romania. Up to the outbreak of the First World War, these institutions became an instrument of modernity in the trade of the ports of Brăila, Galaţi and Constanţa, but their late emergence proves the economic gap between Romania and its foreign economic partners.

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