1132 URUGUAY
going vessels of 1,904,626 tons, and cleared 1,024 vessels of 1,796,529 tons. In the river and coasting trade there entered 2,439 vessels of 621,406 tons, and cleared 2,447 vessels of 621,244 tons.
There are (1896) 1,026 English miles of railway open for traffic, and 190 miles under construction. There are 89 miles of tramway in operation The principal telegraph lines in operation in 1897 were of a total length of 4,380 miles, of which 982 miles belonged to the railways. There were 97 offices, and 342,800 telegrams were conveyed.
In 1897 the post office transmitted 9,426,946 letters, 64,596 post-cards, and 21,342,976 printed papers and other packets. There were 636 post- offices.
Money and Credit.
The nominal value of the silver coinage issued in the Republic from 1877 to 1896 was 4,045,857 pesos, coined at Paris, Santiago, and Buenos Ayres. In 1896 the Bank of the Republic was established with an effective capital of 10,000,000 pesos, represented by shares of a nominal value of 12,000,000 pesos. The bank has the right, ultimately exclusive, to issue bank notes which may amount to half the value of the capital subscribed, and are pay- able either in gold or silver at the discretion of the bank. The president and directors are appointed by the Government. On August 31, 1898, its note circulation amounted to 3,062,879 dollars, and its cash in hand to 3,124,964 dollars. At the same date the note circulation of the Bank of London and the River Plate amounted to 2,353,910 dollars, and cash in hand to 4,983,022 dollars; the Italian Bank's note circulation, 623,870 dollars, and cash in hand 1,148,841 dollars. The total note circulation was thus to the amount of 6,040,659 dollars, and the cash in the banks 9,256,827 dollars. State notes are being withdrawn ; their amount in circulation in 1897 was 166,659 dollars.
Money, Weights, and Measures.
There isuo Uruguayan gold coin in circulation, but the monetary standard is gold, the theoretical gold coin being the peso nacional, weighing 1 697 grammes, "917 fine. The law of June 23, 1862, authorised the coinage of the doblon, or 10-peso gold piece, but, as yet, only foreign gold is in circulation.
The silver peso or dollar weighs 25 grammes, '900 fine. Other silver pieces are half, fifth, and tenth of a peso. Bronze coins are 4, 2, and 1 centesimo pieces. The metric system of weights and measures has been officially adopted. The chief denominations of the old system are as follows : —
The Quintal — 101 "40 lbs avoirdupois.
Arroha = 25*35 ,, ,,
Fanega = 30 gallons.
Lineal league = 5 '64 English yards. ,
Quadra of land = 73 hectare = 1 "8 English acre. '
Square league = 10| English square miles.
