66 



Live Stock in Uruguay. 



Journal (Vol. I., page i8i), but it may be stated briefly that the 

 v/orking capital of the loan and deposit societies consists of 

 shares of about 5 each, which are subscribed by instalments. 

 The societies accept deposits and make loans to members in 

 proportion to their shares, whilst responsibility for engage- 

 ments is guaranteed by all the shareholders. Village banks, 

 which were established on their present basis in 1883, derive 

 their capital from sums granted by peasant communities or 

 private individuals. They are empowered to receive deposits 

 and to borrow a sum not exceeding five times the capital 

 fund. Loans are granted exclusively to peasants of the 

 community which founded the bank to an amount not 

 exceeding £20 for more than one year. The peasant-aid 

 funds make loans to peasants on easy terms. Their capital 

 was formed partly out of the capital placed at their disposal 

 by the Ministry of Finance and p^irtly out of the profits on 

 the deposits made in the savings banks. 



In 1896, the receipts of the peasant-aid funds amounted to 

 ;£357,ooo, made up of deposits, repayments, and interest, 

 whilst the deposits repaid and loans made by them amounted 

 to ;/^3 39,000. The outgoings of the village banks amounted 

 to ^^264, 000 and their income to 289,000. The operations of 

 the 605 loan and deposit societies were on a much more 

 extended scale, the loans repaid amounting to ;^3, 165,000 and 

 deposits to ;^62 1,000, the total receipts being ^4,280,000. The 

 loans granted during the year 1896 were ;^3,294,ooo and the 

 total outgoings were reported to amount to ^4,323,000. The 

 number of members in these societies is stated to be 

 201,843. 



Live Stock in Uruguay. 



In a recent issue of La Agricultura it is stated that, accord- 

 ing to the returns collected in connection with the land-tax, 

 the number of cattle in Uruguay is estimated to amount to 

 approxim.ately 5,248,000 head ; sheep to 14,334,000 head; 

 horses to 388,000 head ; and mules to 14,000 head. 



The larger proportion of the horned stock consists of a 



