"230 Growth, and Development of the Trade in Frozen Mutton. 
or profit of companies. It may have been argued that, in such a 
case as that of the River Plate Fresh Meat Company, where the 
accounts published in 1887 showed a debit balance of 42,000^., 
and where 'M. per share was written off in respect of capital lost, 
the stoppage of their efforts must ere long follow. Yet I see 
this company keeps steadily raising the number of carcasses 
exported, from 191,712 in the year ended April 1886, to 
219,318 in that ended April 1887, to 288,616 up to the 
same date of 1888, and to over 300,000 in the year ended 
December last. While the loss on shipments was set down as 
22,387Z. in 1887, with pi'ices ranging here no higher apparently 
than 3|c?. per lb., that is changed to a profit of 3,202L last 
year, prices remaining level. 
What stimulus, if any, the new bounty voted by the Argentine 
Legislature may have had on the exports of the past year has 
yet to be seen. The sum is declared in some quarters to be 
so small as to promise little material result from the first pro- 
posal, which was to give 6 dollars for every ton of frozen mutton 
exported, and 20 dollars for every ton of beef. 
The clauses of the Decree which bear on the question 
of the bounty are as follows : — 
" 1. Let the sum of 500,000 dollars be set aside each year during the term 
of three years, to be reckoned from January 1, 1888, with a view to encourage 
the exportation of live cattle, and of beef and mutton preserved in tins by 
the refrigerating process, and of other preparations which in the opinion of 
the Executive are deserving of that concession, and for subsidies and prizes 
at rural exhibitions and fairs, and this sum shall be distributed as follows : — 
For premiums on the exportation of live cattle, or of beef preserved by the 
cold process in tins, or of other preparations which in the opinion of the 
Executive may be deserving of this concession, 250,000 dollars annually. For 
premiums on the exportation of mutton preserved by cold process, 150,000 
dollars yearly. For subsidies and premiums to rural exhibitions and fairs, 
100,000 dollars in each year. 
" 2. The amounts which may be destined for the exportation of live 
cattle and of frozen and preserved meats shall be distributed amongst the 
respective exporters in the rates of 20 dollars for every 1,000 kilos, of beef, 
or of 3 dollars for each live bovine animal which may be exported, and of 
6 dollars for every 1,000 kilos, of mutton, and shall be liquidated and paid 
quarterly, on previous presentation by the interested party of documents 
proving the shipment of the meat. 
" 3. There shall be no right to the premiums set forth in the foregoing 
articles : — 1. When the entire quantity of meat or of live cattle shipped dur- 
ing the quarter by one person or company shall not exceed that of 5,000 
kilos, of meat or of 25 live cattle ; 2. When the live cattle or preserved 
meat shall be destined for the provisioning of a vessel for a voyage ; 
3. When the live cattle are exported by land, or to ports situated between 
the Capes." 
To remunerate the producer and stimulate the development 
of the fi'ozen mutton trade, the funds voted for this bounty of 
