Page:Statesman's Year-Book 1921.djvu/1027

 INTERNAL COMMUNICATIONS — BANKING AND CKEDIT 07"

Internal Communications.

There are about 49,838 miles of roads in Old and New Grtece. There is a canal (opened November 9, 1893) across the Isthmus of Corinth (about 4 miles). In 1913, 2,877 steamers of 1,463,896 tons and 1,192 sailing vessels of 36,095 1 through the caual.

Railways open for traffic in 1920 for a length 4t nboat 1,507 miles. Principal lines : — Hellenic Railway, 275 miles ; Pirseus-Athens-Pelo- ponnesus railway, 468 miles ; the Thessaliau Railway, 145 miles ; Athens- Piraeus railway, 6 miles ; Attica Railway, 47 miles : North -Western Railway, 40 miles; Salonica-Gevgheli, 49 miles; Salon ica-Monastir, 125 miles; Salonica-Oxilar. 211 miles. Before the war with Turkey (1912-13) G was completely isolated by land from the rest of Europe, but on May 8, 1916, the railway was completed between Gida on the Salonica-Monastir line, and Papapuli, on the Thessaliau frontier, a distance of 56 miles, whereby Greece was linked-up with the European railroads. The railway system has been extended by the inclusion of the lines in Western and Eastern Thrace. The Government has also purchased from England for two million francs the Salonika-Angista-Stavros line, 75 miles long, which was built by the British during the war. All the lines are State-owned and State-controlled.

The telegraphic lines in 1919 had a length of 9,840 miles, with 17,347 miles of wire. The number of offices was 326. They despatched 3,730,092 inland telegrams, 932,232 international, and 1 23,224 official. Total, 4,785,548.

In 1919 there were 7,002 miles of telephone lines with 4,718 miles of wire belonging to 6 urban systems.

Of post offices there existed at the end of 1919, 901, and there passed through the post in that year 39,084,000 letters, 4,362,000 post-cards, and 13,365,000 printed matter and samples.

Banking and Credit.

The nominal value of the Greek coinage (minted in Paris) put in circula- tion since 1866 has been: gold, in 1876, 1,000,000 drachmai ; in 1884, 11,000,000 drachmai ; total gold, 12,000,000 drachmai ; silver, up to 1910, 26,262,865 drachmai, nearly all of which had disappeared from circulation during the period when the agio on gold made it profitable to export to other countries of the Latin Union; bronze, up to 1883, 6,816,065 drachmai ; nickel, 1893-95, 3,000,000 drachmai. Since 1910 the silver currency has been restored by the repatriation from other countries of the Latin Union of 4,548,024 drachmai, in good condition, and by coin (at Paris) of 9,451,976 drachmai. Owing to the war 1 and 2 drachmai notes as well as 10 and 50 lepta notes have been issued to meet the scarcity of currency. There are also 50, 20, and 5 lepta coins made ol a mixture of nickel and tin.

The National Bank (founded in 1841), and the Ionian Bank are authorise*! to issue forced currency notes to the amount of 73,000,000 drachmai. This privilege (so far as the National Bank is concerned) was extended to December 31, 1930. and by an agreement with the Government made on De eember 6, 1914, these pri\ re extended to the new ten it.;

from January 1, 1915. On December 31, 1920, the notes of the National Bank amounted to 1,547,884,000 drachmai.

The Bank of Piraeus, with a capital of a million ste. ouuded in

October, 1916, by a number of shipowners for the purpose of financing maritime ventures. Other banks are the Commercial Bank, the Central Bank (capital 3,500,000 drachmai), the Bank of Athens, the Bank of Crete, the