416 



FOREIGN OFFICE REPORTS. 



[March 1897. 



The loans are guaranteed by the estate on which the improve- 

 ments are made, or by other real property, or by deposits of 

 State bonds. Estates which bring in no income are not taken 

 into consideration. Real property is only accepted as guarantee 

 for loans up to 75 per cent, of its value. Loans granted to rural 

 communes are guaranteed either by surplus land belonging to 

 the commune (i.e., land over and above the plots allotted to the 

 individual members of the commune), or by a communal bond, 

 by which all the members of the commune mutually guarantee 

 one for the other. 



Those who wish to obtain loans must send in an application 

 to the Minister of Agriculture, which has to be accompanied by 

 the following documents, viz., (1) a description of the property 

 on which it is proposed to carry out the improvements, and of 

 the stock, plant, buildings, &c, existing thereon ; (2) a descrip- 

 tion of the improvements which it is proposed to carry out, 

 mentioning the period for which the loan is asked, and the term 

 within which the improvements can be completed ; (3) plans 

 and estimates for the proposed improvements ; (4) information 

 as to the liabilities and incumbrances on the real property 

 tendered as guarantee, and the amount of the charges thereon ; 

 (5) copies of any existing contracts under which the estate, or 

 any part thereof, is hired out ; (6) copies of the official valuation 

 of the inventory of the property ; and (7) in the event of the 

 loan being guaranteed by Government bonds, a description of 

 the class and value of the same must be given. In case of need 

 the Ministry has the right of inspection on the spot, through 

 the intervention of its experts. 



In case the borrower does not fulfil his engagements, the 

 Ministry may take steps to carry out the necessary improve- 

 ments for his account, or may cease to make further advances 

 on account of the loan. But should the non-execution of his 

 engagements be due to circumstances beyond the control of the 

 borrower, then the repayment of the expenses incurred for his 

 account may be prolonged for some years without the addition 

 of interest. 



Finally, if, owing to causes beyond the control of the borrower, 

 the works executed do not fulfil the purpose for which they 

 were undertaken, the latter, with the approval of the Minister 

 of Agriculture, may be relieved of his liability to maintain the 

 improvement, but is not released from the liability to make the 

 stipulated payments, on account of the loan, at the dates fixed, 

 until such time as it shall be fully paid off. 



[Foreign Office Report, Annual Series, No. 1829. Price Id.] 



Cultivation of Wheat and Maize in Argentina. 



In his last annual Report to the Foreign Office on the trade 

 of the Argentine Republic, Mr. Ronald Bridgett, Her Majesty's 



