Ecuador 1938

By | December 14, 2021

The total population of Ecuador as of January 1935 was estimated at 2,646,600 residents The following table shows the population of the various administrative divisions.

In 1935 the population of the most important cities was as follows: Quito, 115,000 residents (with the surroundings, 236,000); Guayaquil, 136,000 (with its surroundings, 200,000); Cuenca, 45,000; Riobamba, 23,000; Ambato, 18,000; Loja, 17,600; Latacunga, 16,000.

The cocoa plantations have continued to suffer very serious damage from the diseases that have spread there; however the production is slightly increasing, as well as the export (193,000 q. in 1936). The production of coffee (110,000 q. In 1936) and cane sugar (200,000 q. Per year), bananas (265,000 q. Exported in 1936) and rice (39,000 q. In 1935) are also increasing. 36).

Oil production is assuming ever greater importance (277,000 tons in 1936); Ancón, a center of extraction and refining, was connected to the port of La Libertad by an oil pipeline; other refineries have been set up in Guayaquil. The production of gold (1780 kg. In 1936) and silver (2300 kg.) Decreased.

Among the industries, the textile industry developed above all (in 1936, 40,000 spindles and 750 looms).

The railways in 1935 had reached a development of 1200 km. Since 1929 the value of foreign trade has decreased to a minimum in 1933 (44.3 million sucres for exports, 31.6 million for imports); then there was a rapid recovery (in 1936, 46.0 million sucres for exports, 117.5 for imports).

F inances (p. 444). – We give below the figures of the balance sheets since 1930 (in millions of sucres).

As of December 31, 1937, the external debt amounted to 356 million sucres and the internal debt to 27 million. For Ecuador 2017, please check mathgeneral.com.

The gold content of the sucre set in May 1932 (convertibility was suspended in February) at gr. 0.30093 of fine, on 19 December 1935 it was reduced to gr. 0.10352, sanctioning a de facto devaluation of over 60% and raising the official dollar rate from 5.95 to 10.45 sucres. As a result, the Bank’s reserves were revalued. The exchange control instituted in May 1932 and abolished in October 1935 was reinstated in July 1936 and then abolished again in July 1937 following a second devaluation of 30 per cent.

As of December 31, 1937, notes in circulation amounted to 68 million and reserves to 39 million in gold and 11 million in foreign exchange.

Banco Central (1927), as well as the issuing institution, is the main commercial bank in the country.

Bibl.: See the publ. of the Soc. delle naz., especially the Yearbook.

History (p. 446).

Many revolts and internal discord have troubled the internal life of this state in recent years: military uprisings (24 August 1931) with a victory of the government; insurrection of General Guittierez (April 8, 1932) also subdued; insurrection of Bonifaz (27 August 1932) proclaimed president, eliminated three days later together with his rival Baqueriso; arrest of War Minister Sotomayor (1 October 1932) accused of conspiracy. In 1933 Ecuador had to mobilize in view of the conflict between Peru and Colombia (see Colombia, App.), But did not intervene; and had to undergo a severe general strike at the end of August.

After the provisional presidency of Albornoz (30 August 1932), Martínez Mera was elected president, then (16 December 1933) José Maria Vlasco Ibarra. The latter, proclaimed the dictatorship on August 20, 1935, was deposed after two days and temporarily replaced by Antonio Pons, then (December 27, 1935) by Federico Paez, who proclaimed himself dictator with the support of the army. During the government of the Paez, control measures were taken on exchange rates (August 20, 1936) and severe anti-communist measures (November 18, 1936). Elected president of the republic on August 14, 1937, the Paez resigned shortly after (October 23, 1937); he was replaced by the Minister of War, gen. Alberto Enríquez. In early June 1938, a border incident with Peru, rekindling old border disputes, led to a tension in relations between the two countries.

Ecuador 1938