Page:Statesman's Year-Book 1921.djvu/1211

 FINANCE — DBFBJTCI — PRODUCTION WD INDUSTRY 1159 Finance.

The revenue is derived from Import and export duties, inland ievenue, transit dues, post and telegraph and other dues. The estimated revenue and expenditure for six years are given as follows: —

Y.-.ir

• nue

Expenditure Year Revenue

Kxpeiiditure

1914 1915

1916

821,383 616,332

'.'71

i

£

->05 1917 -IS -' 523,311 841,937 1919 1 1,105,911 67/ 1 1,009.530

£

577,182 1,071,33-'

1,0S-

i Estimates. - The budget for the year enilin,' June 30, 1918, remained in force until

December 31, 191S.

On December 31, 1919, the outstauding external debt (London Lorn, 1871-2, 3,412,450 pesos gold ; Argentine National Bank Loan, 68,227 pesos gold; Loan according to the Law of November 27, 1912, 2,172,300 pesos gold) amounted to 1,130,595/., and the acknowledged internal debt to 617.751L (not including the paper currency, viz., 125,000,000 dollars). The war debt to the Argentine and Brazil (the portion due to Uruguay was condoned) is not rnclu Government accounts. Tt may be said to

exist only as a political weapon in the hands of those countries, and is by some considered an effective guarantee of the independence of Paraguay.

Defence.

The small army of I'aragnay is drilled and traiTred and armed on the German model. Total about 100 officers and 2,500 men, distributed at 5 centres. In the event of war the National Guard is called to the colours. Service, is compulsory in the ranks for 2 years, but the law is not enforced. The territory of the Republic is divided into 5 military

The navy consists at present of a flotilla of 3 small converted merchant vessels armed with modern guns. The largest is abont 200 tons gross register (three larger vessels having been sold).

Production and Industry.

Of the total area of the Republic, which is officially given at 111,250,000 acres, 57,231,250 acres are utilised in various ways, and 54,018,750 acres are unexploited land. The utilised land comprises 30,000,000 acres of grazing land, 7,031,250 acres of yerbales land, and 20,000,000 acres of timber land.

The soil of Paraguay is productive and the climatic conditions favourable to the cultivation of many sub-tropical products. But in its present con- dition much of the country is admirably suited to pastoral purposes. Excellent grazing land is abundant in Paraguay proper and in the Chaco region. The cattle census of 1915 showed that there were in the Republic 5,249,043 cattle, 600,000 sheep, 478,000 horses, 17,000 mules, 18,000 asses, 61,000 pigs, and 37,000 goats. The meat packing and curing industry is encouraged by Government ; hides, jerked beef, and other animal products are exported. Yerba mate, or Paraguay tea, which is a natural product of the virgin forests, is one of the chief articles of export ; in 1918, 11,032,758 kilos were produced. The cultivation of the tree from seed is being undertaken on an extensive scale in many parts of the couutry, particularly by Germans, and is liable within a few years to revolutionise the industry. The total export of yerba in 1919 was kilos. Tobacco is also on* of the principal prodaota, The normal output