1366 URUGUAY
There were besides, in 1919, 8,072 barques of 8,084,209 tons that entered and 8,004 barques of 8,063,018 tons that cleared all the ports. The port of Montevideo is visited by the steamers of 20 different com- panies, of which 12 are British, 2 German, 3 French, 2 Italian, and 1 Spanish.
The National roads of Uruguay have a total length of 2,240 miles, and there are about 8,100 miles of departmental roads, of which about 200 miles are macadamised. River transport is also very extensive.
The three prineipal railway systems are the Central (988 miles), the Midland (501 miles), and the East Coast (71 miles), all British owned. At the end of 1917 the railway system of Uruguay open for traffic had a total length of 1,660 miles of standard gauge, of which 1,060 miles are under State guarantee. During the fiscal year ended June 30, 1919, the railway receipts were 10,156,034 pesos, as compared with 8,624,732 pesos collected during the previous fiscal year. The gross earnings of the i ail ways were 1,109,065 pesos, of which the Central Railway obtained 875,000 pesos; the Eastern Railway, 128,175 pesos; and the Northern Railway, 105,890 pesos. There are 170 miles of tramway in operation ; the tramway lines of Montevideo have been electrified.
The telegraph lines in operation have a total length of 4,819 miles ; in 1919, 258 offices through which 1,505,705 telegrams passed. Two tele- phone companies of Montevideo have 26,872 miles of wire, and in the Republic, 29 companies have 37,390 miles of wire. Number of subscribers, 18,1 8S. The Government will take over the whole of the postal services as soon as arrangements have been completed.
In 1919 there were 995 post offices. The correspondence movement (internal) comprised 103,802,411 letters, packets, &c. , and external, 12,026,807.
Money and Credit.
The Bank of the Republic had a paid-up capital on December 31, 1920, of 20,335,955 dollars. This bank has the exclusive right to issue notes. The president and directors are appointed by the Government. On De- cember 31, 1918, notes to the value of 55,649,927 dollars were in circulation, and its stock of gold amounted to 48,087,793 dollars in bullion and 45,1 7' dollars in gold coin.
On November 30, 1919, the gold reserve in the banks of the connlry amounted to 60,557,072 pesos, distributed as follows: 53,627,758 pesos in the P.ank of the Republic, 3,201,982 pesos in other Uruguayan banks, and 3,727,332 pesos in foreign banks.
In 1912 the Government created a National Insurance Bank (Banco da Seguros del Estado) with a monopoly of insurance business of all kinds. No new insurance companies may now be established. The Insurance Ban! opened its doors on Marofc 1, 1912. The business of the bank is divided, into the following departments! Fire insurance; automobile insurance; workmen's accident insurance; h:iil insurance; life insurance; animal insurance ; marine insurance ; and insurance for window panes and mirrors. \ In 1919 the volume of business transact ed by tbe insurance bank amounted j to 120,842,528 pesos, and the profits were 2,212,612 pesos.
Money, Weights, and Measures.
There is no Uruguayan gold coin in circulation, but the monetary standard
1. the ihi'invtii al gold roin being thoijwo national, weighing 1*697
grammes, '917 fine. The law of June 23, 1862, authorised the coinage ol the
