Part III: Credit 



URUGUAY. 



THE MORTGAGE BANK AND ITvS ACTIVITY 

 IN REI.ATION TO LAND CREDIT IN 1915-1916. 



SOURCES : 



De una relacion enviada por la Oficina de EsTADiSTiCA y Publicaciones del Ministerio 

 de Indiistrias de la Republica Oriental del Uruguay al Institute Intern'acional de Agri- 

 cultura [Repot t sent to the International Institute of Agriculture by the Bureau of Statistics 

 with the publications of the Ministry of Industry of the Eastern Republic of Uruguay) . 



Recently we gave some notes on that reorganization of the Mortgage 

 Bank of Uruguay wliich was decided by the law of 15 October 1915 (i). 

 We then made clear that the essential bases on which the reform of the 

 organization of this establishment was framed were the simultaneous exten- 

 sion of its function in the same direction as that of modern banks, and 

 reinforcement of the safeguards tending to ensure its financial soundness. 



We will now examine, with the aid of some data sent to us directly 

 by the Ministry of Industry of Montevideo, the results of the activity of 

 this bank in the year 1915-1916 in relation to land credit, with which sub- 

 ject the reform is especially concerned. The figures which we will give 

 cannot of course afford an exact idea of the influence which the reorgan- 

 ization in question may have on transactions, for, as has been said, the law 

 enforcing it was promulgated in October 1915, that is to say when the finan- 

 cial year to which these figures refer was half over. But the figures will 



(i) See International Review of Agricultural Economics, August 1916, page 78. 



