68 CHILE - CREDIT 



The Bonds in circulation were distributed on December 31st., 1912, 

 as follows : 



8" 7" 6", o ^' 



In current money ... S 54,378,600 104.068,000 50,881,400 1,500.400 



^ franc? Fr. — — — 168,668,500 



/ pounds sterling . £ — — 8,310 634,025 



§ 5 Reserve fund. 



On December 31st., 1912, the reserve fund of the Bank amounted to 

 $ 8,408,977.54, including the balance of the previous year and a working 

 capital of 698,422 pesos. The special reserve fund formed by the conversion 

 of the paper bonds of the State into gold was increased during the year 

 b}^ $21,200 and now stands at 720,000 pesos. 



We have thus shown in this rapid sketch how the Chihan mortgage sys- 

 tem pursues its onward course, rendering great service to the agricultural 

 prosperity of the country. 



