54  SELLING  LATIN  AMERICA

owned  by  the  Liebig  Company  and  where  the
extract  of  that  name  is  made,—kills  over
3,000,000  head  a  year.  Very  naturally  meat
by-products  are  produced  and  exported  in
large  quantities.  Much  frozen  and  tinned
meat  is  exported.  Some  idea  of  the  enormous
size  of  the  cattle  industry  here  may  be  gained
when  we  are  told  that  at  the  present  time
Uruguay  has  over  9,000,000  cattle,  30,000,000
sheep,  800,000  hogs,  600,000  goats  and  430,000
horses.
One  of  the  leading  industries  is  the  shearing
of  wool,  all  of  which  is  exported.  The  good
climatic  conditions,  in  connection  with  attention ­
  paid  to  breeding,  have  resulted  in  the
production  of  a  wool  of  superior  length  and
texture  and  as  a  consequence  wool-buyers  from
Europe  are  attracted  to  this  market.  In  1913
the  amount  exported  reached  the  enormous
sum  of  $35,875,975.
Despite  the  fact  that  Uruguay  has  no  gold
coin  of  its  own,  it  is  on  a  gold  basis  and  its
peso,  or  dollar,  is  worth  almost  four  cents
more  than  ours,  or  to  be  exact,  $1,034.  This