Among those industries which are still in a state of infancy we must mention the chemical industry; this is limited to a few candle and soap factories, sulphuric and nitric-acid works, scent distilleries, dye factories, etc., whose produce is insufficient to the needs of the country. The match factories, on the other hand, furnish a good article and are sufficient to the country. The consumption at present exceeds 200 million boxes per annum. We must also mention the existence of a few paper-mills, glass furnaces, and various works where certain agricultural necessities are produced: such as iron wire, fencing, etc., and also certain wheel factories; but here again importation furnishes a great proportion of the articles consumed. CHAPTER IV BANKS, THE BOURSE OR STOCK EXCHANGE, AND LIMITED COMPANIES BANKS——International character of Argentine banking——Evolution of banking machinery——List of the principal banks, with amount of capital and business done——Conditions peculiar to Argentine banking; the lack of moveable reserves——Rates of interest on account, on deposit, and on advances——Statistics of the deposit accounts of the principal banks——Exchange operations: their decrease since the determination of a fixed monetary ratio——The Clearing House; the importance of its operations. _The Bank of the Nation_——Its history——The formation of its capital——Political interference in the nomination of its Directors——Statistics of its accounts——Rapid increase of deposits——Difficulty of realising capital——The resumption of payments. _The Bank of the Province of Buenos Ayres_——Its reorganisation——Its present prosperity. _Mortgage and Loan Banks_——History of the _Banque Hypothécaire_ of the Province of Buenos Ayres——Bankruptcy——Arrangement between the bank and its creditors——Proposal of reorganisation——Laws relating to mortgage in the Argentine——The National Mortgage Bank; statistics of business done——Joint-stock loan companies; their capital and amount of business done. THE STOCK EXCHANGE (BOURSE)——History of this institution——Its importance; its functions; amount of business done——The decrease in its transactions since the cessation of speculation in currency or the monetary ratio. The Bourse is a private establishment——Its membership and its regulations——Statistics of business done during the last ten years——Securities quoted on the Buenos Ayres Bourse—— Decrease in the total amount of business done during the last five years——The monetary reform of 1901 as a factor of this decrease——The place occupied by the Stock Exchange in the life of the nation.