672 



PERU. 



The total value of the exports from the re- 

 public, through all ports, in the year last re- 

 ferred to, is estimated (no official statement of 

 the exact amount having as yet been pub- 

 lished) at $50,000,000. 



The following is a statement of the shipping 

 movement, at the port of Callao, for the year 

 ending September 30, 1869 : 



ENTERED. 



Steamers, 310, with an aggregate of 282,572 tons. 

 Sailing-vessels', 1,623, with an aggregate of 1,032,989 tons. 

 Coasters, 1,126, with an aggregate of 7,551 tons. 



CLEARED. 



Steamers, 305, with an aggregate of 273,355 tons. 

 Sailing-vessels, 1.641, with an aggregate of 1,045,847 toes. 

 Coasters, 1,092, with an aggregate of 7,480 tons. 



The Peruvian merchant navy consisted, in 

 the same year, of 95 craft of all sizes, with a 

 total of 9,596 tons' measurement. 



There is no direct taxation in Peru, and the 

 public revenue is, in the main, derived from 

 the sale of guano, but a very insignificant pro- 

 portion accrues from customs duties. The 

 budget estimates for the two years 1871 and 

 1872 were as follows : 



REVENUE. 



Guano $44,915,451 



Customs duties Exports $4,818,000 



Imports 229,600 



Tonnage, etc 246,000 



5,293,600 



Miscellaneous receipts 8,773,800 



Total $58,982,851 



EXPENDITURES. 



Ministry of the Interior $6,460,004 



Ministry of Foreign Affairs 409,043 



Ministry of Justice, Public Instruction, etc ... 4,632,333 



Ministry of War and Navy 10,870,762 



Ministry of Finance, Commerce, etc 4,812,564 



Administration of the Public Debt and Public 



Works 30,729,058 



Total $57,913,764 



According to the foregoing estimates, there 

 would have been a surplus of $1,069,087 ; but 



such favorable result could scarcely be ex- 

 pected, for the revenue of former years showed 

 large deficits. 



Peru has a considerable public debt, divided 

 into home and foreign, the former being es- 

 timated at $2,500,000, exclusive of a flositing 

 debt, the amount of which is unknown. The 

 external or foreign debt is made up of several 

 small loans raised in I860-' 64, and of three 

 large loans made in England in 1865, 1870, 

 and 1872, as follows : 



1860-'64 loans, at 4$ per cent $6,500,000 



Consolidated 5 per cent, loan of 1865 fJO,COO.OOO 



Railway 6 per cent, loan of 1870 59,600,000 



Railway 5 per cent, loan of 1872 75,000,000 



Total $191,100,000 



The 6 per cent, loan of 1870 was issued at 

 82, and the 5 per cent, loan of 1872 at the 

 price of 72, the latter loan being for the nomi- 

 nal amount of 36,800,000 ; but there was is- 

 sued provisionally in July, 1872, no more than 

 15,'000,000. The loans, secured on the guano 

 deposits, and the general resources of the 

 country, are to be repaid in twenty years by 

 the operation of sinking funds. 



The quantity of sugar manufactured in Peru 

 is said to be over 700,000 quintals (of 100 

 pounds) annually ; the valley of Cafiete alone 

 producing yearly about $2,000,000 worth of 

 sugar and rum. Most of the planters in that 

 locality have steam-machinery, and employ as 

 many as 1,000 Chinese laborers. "Wool is pro- 

 duced in great abundance ; large numbers of 

 sheep have of late years been imported from 

 Europe, for the purpose of improving the 

 native stock ; and no less than 3,964,501 quin- 

 tals, or 44,303 bales, of wool were exported 

 in 1870-'71 from the single port of Islay. 



The following is a list of the railway lines 

 completed or in process of construction at 

 the end of the year : 



The Government has already expended 

 $24,000,000 for the alteration of the Chimbote 

 line to a narrow gauge. 



Such extensive railway-works require a 

 much larger number of laborers than can be 

 found within the republic; and, in order to 

 meet the emergency, Mr. Meiggs, the principal 

 contractor, has entered into an arrangement 



for- the importation of 5,000 free Chinese 

 laborers, to be liberally paid and well fed, and 

 returned, at the expiration of their term of 

 service, to their own country at Mr. Meiggs's 

 expense. The first instalment of coolies had 

 arrived in 1871, and given unequivocal proofs 

 of the success of the system, and of the supe- 

 rior utility of that class of workmen. 



