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The routine business of Barings was its financing of foreign trade, but larger rewards and wider recognition came from arranging finance, mostly by bond issues, for sovereign states and industrial empires.
The State Committee on Prices (Gosudarstvennyi komitet po tsenam--Goskomtsen), the Ministry of Finance, and the State Bank (Gosudarstvennyi bank--Gosbank) held jurisdiction over the financing of foreign trade.