There is an increasing tendency to legislate with a view to re stricting the exploitation of the mineral wealth of the country to Spaniards.
Figures giving the ore output for the last three years available (1924-26), together with those for 1913 as a basis for comparison, are given below :— Industries.—Every department of Spain's economic life shows the effects of the World War period. Impetus was given to the formation of industries which were either non-existent before the war or in an embryonic state. These were put through a hothouse forcing period with the idea of supplying the Spanish market as well as the Allies.
With the return to conditions in which industry was obliged to compete in Spain itself with the foreign industries which had catered for Spain before the war, there spread a "malaise" which affected the whole industrial structure of the country, and manu facturers assisted in bringing into being a thorough-going cam paign for the protection of industry.
Notwithstanding this campaign, many Spanish industries feel that they are not yet sufficiently secure from foreign competition in their own market, and there seems every likelihood that the protective movement will be carried even further.
The movement in the rate of exchange since the war has ad versely affected the ability of local industry to compete, both at home and abroad. The fall in the value of the peseta, and its more recent return to a figure of about 29 pesetas to the pound sterling has increased the gold cost.
The above explains from the economic side the force of the campaign for higher customs duties in Spain today. It also shows that, upon the whole, there seems little likelihood of any slacken ing in the movement.
No official Spanish statistics dealing with the production of electric energy are available, and it is therefore difficult to indicate with any degree of certainty the actual waterpower utilized.
Nevertheless, it is possible to estimate the power derived from waterfalls in exploitation at about 1,300,000 h.p., and the pro
duction of electric energy at over 1,000,000 k.w., while according to expert opinion the total power latent in Spanish waterfalls is about 7,500,000 h.p.
The production of electric energy has extended to the whole of Spain, facilitating the conversion of steam-driven railways into lines worked by electricity. Small industries are springing up in villages where previously motive power was not available. It appears that in the near future a scheme of national distribution of electric energy is to be introduced.
The value of the output of the metallurgical industries in 1913 was 302,600,000 pesetas. In 1918, a year of prosperity and high prices, it reached the sum of 841,100,00o, and in 1926 it attained 918,900,00o pesetas.
The manufacture of fine steels has improved considerably, and in 1927, with the collaboration of foreign experts, the production of certain alloys of special steels was begun.
The construction of rolling stock for railways has assumed larger proportions than previously in Spain, and this industry shows positive prosperity. Electrolytic copper and aluminium are also being produced in considerable quantities.