INDUSTRY AND COMMERCE 



163 



Exports 



Owing to the trouble with the currency, the rate of ex- 

 change is high, running, in 1894, from three to five cents 

 on the dollar. The Mexican dollar became the currency in 

 1878, with a value of ninety-five cents in Spanish money 

 and one silver dollar in United States money. The Ameri- 

 can silver dollar depreciated in other markets, but found 

 circulation in Porto Rico, until all the gold and Spanish 

 dollars disappeared. In 1885 the government forbade the 

 importation of Mexican dollars, and declared illegal Mexican 

 coins of previous dates. Then the dates of the dollars were 

 falsified, and they still circulated until the Mexican dollar 

 became the only currency. 



The industries of the island are limited to the prepara- 

 tion of the sugar and coffee for market, and the manufac- 

 ture of tobacco, chocolate, wax, soap, matches, rum, and 

 straw hats ; there are also three foundries for the manufac- 

 ture of iron machinery. 



