The farmer and mechanic., 1915-08-31

road InycStmcnt-The Pan-Amcri-
can Systcm-A Quarter Of Billion
Dollars of British Capital-HOw the
War Helps the United States
American Interests in MOntcyideO. |
incry-Thc Leather Industry and
the american Shoe.
Copyright, 1915, by Frank G. Car
penterJ
MONTEVIDEO. Uruguay.
The war with Europe is throwing
the trade of Uruguay into the lap of
the United States. There is now a
strong prejudice here in our favor.
Within the past five years more than
s50,00c # American money have
been invested in the republic and the
present situation caused by the
troubles in Europe demands more and
more money. French and German
loans are now impossible. The British
are cutting down their South Ameri-
can investments, and everything finan-
cial and commercial is coming our
way. Up until last year, when the
war began, Great Britain had planted
more than $250,000,000 in Uruguay.
Ii had built and financed most of the
railways. 1t had great interests in
pie still have large eStancias here and
there over the country. The chief pub
lie Utilities of Montevideo have offices
in London, where they are practically
owned. This is so of the Montevideo
Gas Company, the waterworks. the
street railways and the telephones and
electric lights. 1t is also true Of the
most important railways.
Much Of the national debt OF Uru-
quay is held in Threadneedle street.
The country has public loans amount
ing to sS5,0O0,000, which are secured
by the customs receipts. These are
collected daily. This debt is admins
tered by q council of foreign bond
holders in London, and the agents
here are the London and River Plate
Bank. a British institution. Uruguay
has also other debts amounting tC
thirty-tive or forty millions, which
were arranged for by Glyn, Mills
Currie Il Co. and additional loans are
now needed which will probably bt
offered to the United States. Urugua.
credit is excellent. Its bold dollar il
worth three cents more than our golt
dollar, and the government issues m
paper currency whatever. The coun
try is noted for it's sound finances an,
it's substantial wealth. It's trade stead
lily Increases and its foreign commerc
coo, 900 per annum.
Among the big American institu
tonS recently established in Urugua
is the great packing establishment o
Swift e. Co. here at MOntevideo. Thi
has an output Of 500 cattle and LOO
sheep daily, and it is doing a bushes
running up into the millions 1t ha
one of the finest packing houses in tn
Rio de la Plata basin, and it is gettin
the pick of the stock offered for sal'
When it is remembered that Urugua
has more than 5000 900 head of cattl
and 26.000,000 sheep it will be see
that this business will eventually a:
sumo enormous proportions. / under
star q that the Swifts will probably ir
crease their plant, and that Armou
Morris d Co. and the SulZbergerS al
arranging to enter the field and cor
struct large packing plants. The Cut
ahys are negotiating for similar priv
ileges
An immense deal of America
money might be used in the railroa
development of Uruguay The go
ernment here recently made a CO..
tract with the Farquhar syndicate
build roads from Montevideo for
distance of 200 miles to Carmen
join the Midland railway, and bran,
lines from there of from fifty to /
miles more. In it's concessions Il
government agrees to pay the cost
construction and a profit of 10 p
cent to the builders. The paymen
are TO be in bonds of Uruguays 70
eign debt taken over at the rate quo
ed for them on the Paris stock e
change at the time the payments a
made. These bonds yield per ce
interest. The Farquhar company
also extensive lines in Brazil ov
which il is now sending through trai
TO connect with the Montevideo ra
roads. This has made it possible
go from Rio de Janeiro to Montevid
on comfortable cars; and the day "
come when there will be fast eXpr
ses from one capital to the other I
distance from Montevideo to Rio
almost as great as from London
Constantinople.