Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-06-17
Commerce and Finance Serve Binding ogether the Americas
BUSINESS CONDITIONS
ARE BETTER IN CHILE
Trade Is Recovering From Setback
Received at Outset of the War
in Europe.

In Europe.
| A communication dealing with condi-
lions in Chile during 1915 has been re-
ceived from Consul General l.. ]. keena
stationed at Valparaiso, who says. in
| part
| although Chilean trade in 1915 was
! seriously affected by the European war
general business conditions, particu-
ilarly in the latter half of the year. were
| in much better condition than In the lat
ter half of 1914.
The expectation of Chile's two great
export products, nitrate of soda and
copper. were greater than in 1914 I'm
ports, as indicated by the custom
house returns. were less than in the
preceding year and far below normal.
The government, however, probably
suffered more from the shortage OF
revenues from imports than the trade
from lack of new or replace stocks.
1.-The general import trade Of Chile
is largely in the hands of number OF
big importing houses talso engaged in
the export trade). which. because OF
Chile's distance from all great supply
markets, carry heavy stocks OF import
cd merchandise distributed all along
the coast The advance in freight
rates, as well as in the prices of many
commodities in foreign markets. en-
abled these houses to dispose of their
reserve stocks at a profit in a market
that had received a short supply Of ar
ticles from abroad.
The increased production and ex-
portation of nitrate of soda and copper
and the high prices commanded by
these commodities brought a large
amount of money into the country and
re-established trade conditions on as
normal a basis as could be expected. in
view Of the disturbed state of the i'm
port, export and financial markets Of
the world at large.
Foreign Loans Floated.
The only addition to the foreign
public debt of Chile in 1915 was
loan of S9,13o. 900 made by Morgan,
Grenfell & Co. to the Chilean govern
ment at per cent, payable December
81. 1916. to pay outstanding treasury
deposited with these bankers S3.ss5.0 900
of conversion funds on. hand in the Ma
tional City Bank of New York and
$5,S40,000 of conversion funds on de-
posit with n. NJ. Rothschild e. Sons.
The deposit earns per cent per an
mum. The combined internal and for
eign debt of Chile. including paper
currency in circulation. last year was
$16s.sss.000. or $3.50 per capita. for
an estimated population of 3,596,500.
The government deficit at the end of
the year was estimated to be about
s21.s40.ooo.
About so per cent of the entire rev.
enue of the Chilean government comes
include import duties. export taxes,
warehouse charges. lighthouse dues.
wharfage. etc. In 1915 these receipts
totaled $35,ol5,622, as compared with
$42.40s.490 in 1914 and $5S,072,121 in
1913. the sharp decline in the revenue
as against $16,745.154 in 1914 and $685.
787,436 in 1913-being the chief cause
of this heavy decrease.
The United States in the second and
third quarters Of 1915 became for the
first time Chile's greatest consumer of
nitrate. taking in the second quarter
5.691.700 quintals, as against 4.577.34s
quintals for Europe and Egypt COM
bined. and in the third quarter $751;
500 Quintals. as compared with 6,244,624
quintals. The figures for the last
quarter Of 1915. taken from the report
Of the Nitrate Propaganda Association,
may be subject to minor revision in a
later and more exact tabulation of the
nitrate exports.
Density Of the Population.
The population of Chile last year,
officially estimated at 3,596,541, gives
an average density of 1874 inhabitants
per square mile. its area being 2s9.4oo
square miles. With the exception of
Uruguay. Chile is the most densely
populated country in South America,
the Province of Valparaiso in 1914
having 1928 inha bitants per square
mile. and the Province of Santiago 99.7
The territory of Magallanes contains
the smallest number of habitants per
square mile in Chile, 0.259
Immigration is not an important
factor in the increase in population
In the past decade the total number of
immigrants was only $500, or an aver
age of 1850 year. The two factors
that have had strong influence in dis
couraging immigration were the cir
cumstance that practically all land
available for agriculture has already
passed to private ownership. and the
governments legal requirements
which stipulate that immigrants can
be landed In Chile only when they come
on contract This contract must be
public legal document. Jointly signed
by the immigrant and the Chilean resi-
dent contracting for his aeryices's