1945. Farm methods were being modernized, experiment stations were being built, and much improvement had already resulted from the return of Chilean experts who had studied in United States universities. Special attention was now being given to the provision of warehouses and drying plants for farm cooperatives in southern Chile, and to promotion of the production and consumption of milk. Through mechanization, wider irrigation, and improved seed, Chile might soon hope for the larger food crops so badly needed not only for export to hungry continents but also for better nutrition at home.

Forest conservation, the members of Congress were reminded, must play a part in the development of the nation's resources. The Ministry of Lands and Colonization was placing special emphasis upon the pressing need for a more vigorous forest policy. Señor Duhalde made an earnest plea for prompt passage of the Ministry's forest police bill, which would make it possible to check the burning off of lands, a clearing method which has cost Chile great losses in forest wealth. The Ministry was also accelerating its parceling and title validation activities, in order to stimulate wider farm ownership.

Health conditions were improved during the year by an intensive anti-malaria campaign near the northern border, and by the building of several sewage systems in central and southern Chile. A children's psychiatric service was being organized, with a mobile mental hygiene unit to travel through the country. Preliminary studies were made on a project to standardize drugs and medicines and bring down their prices. Social security benefits were extended to include the workers in various professions.

At the close of his address Señor Duhalde spoke briefly of the coalition cabinet which

was then in office. He explained his reasons for summoning that cabinet after the serious labor disturbances of last February, and voiced a hope that he would soon be able to strengthen it by the inclusion of elements from several other political parties. C. C. C.

Peru plans for industrial progress

One of the largest industrialization programs in all South America is that being carried on in the Chimbote Bay and Santa River Valley region by the Corporación Peruana del Santa, an agency of the Peruvian Government. This program, the completion of which is expected to cost Peru around 130,000,000 soles (about $20,000,000), includes the installation of port works, living quarters, and sanitary facilities in the seacoast town of Chimbote, the reconstruction of a railway, the development of coal mines located 70 miles inland from Chimbote and iron ore deposits at Marcona, 250 miles south of Lima, the construction of a hydroelectric plant on the Santa river, and the extension of irrigation works. A large coal, iron, and steel plant, estimated to cost 81,250,000 soles (about $12,500,000) is also being constructed at Chimbote. It is hoped that this plant will eventually eliminate all iron and steel imports into Peru. The Congress has passed a law which appropriates 13,000,000 soles ($2,000,000) a year for these projects. Credits, so far unused, amounting to $25,000,000 were made available to Peru by the Export-Import Bank of Washington, in 1942.

In the future it is proposed to carry out other projects similar to those now in progress in the Chimbote Bay region.

Cuban foreign trade in 1945

Figures on the value of Cuban exports and imports for 1945 were made public by

The end of World War II had a clearly defined effect on Uruguay's imports in 1945, their value having increased 58.4 percent over 1944 and 79.8 percent with respect to 1943. The accumulated demands for durable and consumer goods were of course a preponderant factor in this remarkable increase.

While Uruguay's favorable trade balance of $7,253,000 U. S. cy. for 1945 was considerably less than the balance for 1944, the country's total foreign trade increased by nearly $68,000,000 over,the trade for 1944. Comparative figures for the 3 years are as follows:

Unspecified merchandise.

Total..

The chief Uruguayan export in 1945 was wool, followed by meats and then by leather and hides. The export value of he last-named remained at practically the same level for both 1944 and 1945, but the value of wool exports for 1945 inreased 39.7 percent and that of meat exports 4.8 percent over the 1944 figures. The percentage increase in the export value of live animals between 1944 and 1945 was 186.4 percent. The value of exports by groups of products for 1944 and 1945 is given in the following table:

Here again the United States ranked first, having supplied 41.5 percent of Uruguay's 1945 imports, valued at $47,607,000. Brazil was second in importance as a supply source for Uruguayan imports; it furnished goods valued at $19,327,000, or 16.8 percent of the total. This figure, however, was somewhat less than in the preceding year, when Brazilian goods constituted 22.2 percent of total Uruguayan imports. Argentina was Uruguay's third important source of imports, products of that nation having accounted for 10.3 percent of the total, or $11,777,000. Venezuela supplied 5.3 percent of the total and Great Britain 4.0 percent.

Argentina becoming a creditor nation

Since July 1946 when the Argentine Government announced its determination to get rid of the country's external debt, the investment world has been watching the wholesale debt retirement program being carried on by that nation. Within the next few months, it is expected that about $130,222,100 of dollar bonds bearing the direct obligation or guarantee of the national government will be retired, as well as obligations payable in 56,900,000 Swiss francs. The first redemption call was set for August 15 and covered $60,423,000 of outstanding bonds of the national 4 percent issue of February 1972. As a result of its large sterling holdings during the war, the country was able to reduce its sterling debt to an amount unofficially estimated at 10,100,000 pounds. Thus Argentina is changing from a debtor to a creditor nation. Credits issued by Argentina's branch banking system are finding their way to industrial centers among the country's neighbor nations, and new Argentine branch banks are being established in various parts of Latin America.

The Brazilian textile industry

A few months ago a spokesman for the Brazilian textile industry made a report before the Economic and Social Committee of the Constituent Assembly, which is in process of drawing up a new constitution for Brazil. The following data are extracted from his report.

The textile industry is the oldest and most widespread manufacturing industry in Brazil. The raw material is easily obtainable, for cotton is native to the country and the cultivation of commercial varieties has been greatly increased in the last 15 years.

European technical experts, foremen, and operatives were brought to Brazil many years ago to aid in setting up textile mills. At first the mills did only weaving, but later spinning and finishing were added, generally all in the same plant. In recent years, however, there has been a tendency to make yarns, piece goods, and knit goods in separate mills. Spinning mills have had to be operated on a double shift. Most textile equipment came from England.

The total number of cotton textile mills, according to the latest statistics (1944), is 411, concentrated chiefly in five states (see table) and the Federal District, but found also in 12 other states. The number of operatives is over 254,000, about 25 percent of all factory workers. There are reported to be 97,000 looms and 3,000,000 spindles. The largest average number of operatives per factory, 2,000, is found in Rio de Janeiro. It is estimated that about 150,000 workers are occupied in other branches of the textile industry, using silk, rayon, wool, jute, and other fibers.

Brazil's importance as a textile producer was recognized in 1944 by an invitation to join the Combined Production and Resources Board, the other members of which

were the United States, Great Britian, and Canada. Brazil was asked to furnish 150,000,000 yards of cotton goods for UNRRA and French North Africa. To help in carrying out this commitment, a Textile Executive Committee was organized in Brazil. This committee took a census of equipment and standardized production in accordance with prevailing Brazilian output. Since the goods for UNRRA were not to show a profit, an effort was made to allot quotas equitably among the various mills.

It proved to be impossible to furnish the entire amount for various reasons, among which was the lack of textile workers for extra shifts. Production was, however, expanded to such an extent that textiles became the second most important export. Shipments for the years 1943-45 are shown in the accompanying table:

tween 900,000,000 and 1,000,000,000 meters.

Exports of cotton goods were so much in demand early this year that the Textile Executive Committee issued a resolution on February 22 suspending for 90 days. exports of such goods or their manufactures, in order to protect the home market. (This was later extended for another 90 days.) This did not, however, apply to textiles for UNRRA, although these goods are included in the 20 percent export quota (based on the 1945 production of each factory) that will be in effect after the expiration of the export suspension. Exports of cotton yarns, which had a value of about 92,000,000 cruzeiros in 1945 and were even higher the year before, were suspended for 60 days in December 1945 by order of the Coordinator of Economic Mobilization. Rayon exports were suspended the same month until further notice.

Since June 1943 there has been in effect a textile agreement, signed by the Coordinator of Economic Mobilization and the chief organizations in the textile industry. It requires each manufacturer to deliver to the Brazilian trade 10 percent of his output in low-priced goods, with the prices. marked on the selvage; generally these are marketed at 50 percent of cost. Goods for UNRRA, sold at cost, take another 10 percent of production. Sixty percent of production is composed of higher-priced

Here again the United States ranked first, having supplied 41.5 percent of Uruguay's 1945 imports, valued at $47,607,000. Brazil was second in importance as a supply source for Uruguayan imports; it furnished goods valued at $19,327,000, or 16.8 percent of the total. This figure, however, was somewhat less than in the preceding year, when Brazilian goods constituted 22.2 percent of total Uruguayan imports. Argentina was Uruguay's third important source of imports, products of that nation having accounted for 10.3 percent of the total, or $11,777,000. Venezuela supplied 5.3 percent of the total and Great Britain 4.0 percent.

Argentina becoming a creditor nation

Since July 1946 when the Argentine Government announced its determination to get rid of the country's external debt, the investment world has been watching the wholesale debt retirement program being carried on by that nation. Within the next few months, it is expected that about $130,222,100 of dollar bonds bearing the direct obligation or guarantee of the national government will be retired, as well as obligations payable in 56,900,000 Swiss francs. The first redemption call was set for August 15 and covered $60,423,000 of outstanding bonds of the national 4 percent issue of February 1972. As a result of its large sterling holdings during the war, the country was able to reduce its sterling debt to an amount unofficially estimated at 10,100,000 pounds. Thus Argentina is changing from a debtor to a creditor nation. Credits issued by Argentina's branch banking system are finding their way to industrial centers among the country's neighbor nations, and new Argentine branch banks are being established in various parts of Latin America.

The Brazilian textile industry

A few months ago a spokesman for the Brazilian textile industry made a report before the Economic and Social Committee of the Constituent Assembly, which is in process of drawing up a new constitution for Brazil. The following data are extracted from his report.

The textile industry is the oldest and most widespread manufacturing industry in Brazil. The raw material is easily obtainable, for cotton is native to the country and the cultivation of commercial varieties has been greatly increased in the last 15 years.

European technical experts, foremen, and operatives were brought to Brazil many years ago to aid in setting up textile mills. At first the mills did only weaving, but later spinning and finishing were added, generally all in the same plant. In recent years, however, there has been a tendency to make yarns, piece goods, and knit goods in separate mills. Spinning mills have had to be operated on a double shift. Most textile equipment came from England.

The total number of cotton textile mills, according to the latest statistics (1944), is 411, concentrated chiefly in five states (see table) and the Federal District, but found also in 12 other states. The number of operatives is over 254,000, about 25 percent of all factory workers. There are reported to be 97,000 looms and 3,000,000 spindles. The largest average number of operatives per factory, 2,000, is found in Rio de Janeiro. It is estimated that about 150,000 workers are occupied in other branches of the textile industry, using silk, rayon, wool, jute, and other fibers.

Brazil's importance as a textile producer was recognized in 1944 by an invitation to join the Combined Production and Resources Board, the other members of which