Page:Statesman's Year-Book 1921.djvu/793

 SHIPPING — COMMUNICATIONS — MONEY AND CREDIT 741

Total trade between Chilf and United Kingdom for 5 years : —

-

1916

1919 1920

Imports from Chile to O.K. Exports to Chile frnm O.K.

S0V.13 13.222.81P 4,034.402 l,ft38.Ml

C £

19,330,993 7,344,655 12.9?1,173 -524 4,779,159 9,693,668

Shipping and Navigation.

The commercial navy of Chile consisted, in 1919, of 103 steamers of 45,283 tons net and 26 sailing vessels of 17,081 tons net. The shipping entered and cleared at the port 1, of Chile in 1918 wm as follows :— Entered, 12,954 vessels of 10,849,942 tons ; cleared, 12,799 vessels of 10,447,146 tons. Of the total entered, 1093 steamers of 2,900,156 tons, and of those that cleared, 1,033 ol 2,5S2,810 tons, were British.

Communications.

In 1919 there were in Chile 22,000 miles of public road, and 850 miles of navigable river, and 497 miles of navigable lakes.

The Longitudinal Railway of Chile, traversing the Republic from north to south over a distance of 2,854 miles, is (1919) a government-owned line, embracing with its spurs and the Arica to La Paz Railway (271 miles) an extent of 3,125 miles. There are also 2,270 miles of privately owned lines, making a total of 5,395 miles.

The 953 post-offices in 1919 dispatched 96,493,096 postal packets, of which 4,107,666 were sent abroad. These included 2,027,777 letters for abroad, 30,904,074 home letters ; and 1,267,313 parcels for abroad, and 962,300 home parcels.

The length of telegraph lines at the end of 1919 was 15,830 miles of line (,9,859 miles of Government line) and 13,550 miles of wire (Govern- ment telegraphs alone). In 1919 there were 588 telegraph offices ; 14,866,960 messages were sent. The length of telephone line was 40, 138 miles, and of wire 71,400 miies (1919). Number of subscribers, 23,720.

Work has progressed on the several wireless stations now under con- struction along this coast, which with those now completed will form a chain composed of Arica, Antofagasta, Coquimbo, Valparaiso, Talcahuano, Valdivia, Puerto Montt, and Punta Arena-;. A wireless station is also being erected on the Juan Fernandez Islands, about 400 miles west and south of Valparaiso. Total number of stations in 1919, 32.

Money and Credit.

In 1912 a law wag promulgated establishing a Bank of Issue (Caja de Emision). By means of this the banks can issue certain quantities of paper money in exchange for an equivalent gold deposit, at the rate of 12<i. per peso at first and 18^. per peso subsequently.

There are a number of joint-stock banks of issue with agencies in Chile. Their joint capital amounted on December 31, 1919, to 220,078,466 paper pesos and 8,458,996 gold pesos, and their reserve funds to 82,213,240 paper pesos and 9,860,310 gold pesos. The largest of the banks is the Bank of Chile witha paid-up capital of 60,000,000 pesos. The banks are required to guarantee their note issue by depositing gold, Government notes, or securities in the Treasury. There are also land banks which issue scrip pay- able to bearer and bearing interest, and lend money secured as a first charge on landed property and repayable at fixed periods. Two institutions specialise in savings accounts, the National Savings Bank of Chile, and the Savings