VENEZUELA. 



VERMONT. 



The Primer Dttiynado, or First Substitute, 

 U General F. Linares Alcantara ; Segundo De- 

 $iynado, General X. O.-spo, both appointed 

 Hay 1'. 18 7 3 ! President of the High Federal 

 Court, P. Casanova. 



The cabinet consists of the following min- 

 isters: Interior and Justice, General J. G. 

 Oohoa; Foreign Att'iirs. General J. Gutierrez; 

 Finance, 8. Ooeticoa; Public Works, M. I'r- 

 baneja ; Public Credit, Simentel y Roth ; and 

 War and the Navy, General L. Gil. This 

 cabinet was formed June 80, 1873. 



The Governor of the Federal District is J. 

 M. Paul. 



Archbishop of Caracas (vacant). 



Apostolic Vicar, A. Baralt. 



The ranks of the army are virtually recruited 

 by impressment, although volunteering is the 

 system prescribed by law. The present Gov- 

 ernment promulgated, in February, 1873, an 

 act rendering military service obligatory both 

 in the regular army aud the militia; each State 

 is required to furnish its contingent, which 

 shall be renewed annually to the extent of 

 on. -fourth of its number. The term of ser- 

 vice is four years. The effective strength of 

 the army for 1878-'74 is to be 3,000 men. 



The navy is made up of six wooden steam- 

 vessels, of an aggregate tonnage of 3,500, and 

 780 horse-power, and mounting 21 guns; be- 

 sides a few armed small-craft. 



The commerce of Venezuela is insignificant 

 as compared to the vast extent and capabilities 

 of the country ; an effect due to three prin- 

 cipal causes: frequent civil wars, indolence, 

 and a too sparse population. The chief staples 

 of export are coffee, cacao, dye-stuffs and 

 dye-woods, cotton, etc., most of which last is 

 taken by Great Britain. 



The following shows the valne of the exports 

 to England in the five years, 1868-'72 inclusive: 



YM. V.I,,. 



IMS ..................................... $1M.015 



|S ..................................... 858.8JS 



1870 ................................... 409,575 



................................... S97.575 



1871 ...................................... 613,105 



The imports from the same country for the 

 same period, wore as follows : 



Tn. 



I8M 



$MS3.480 

 S, 171.030 

 7 



.. 

 W7 ................................... *,4,000 



Cotton fabrics comprise far more than one- 

 half the value of the imports in the years jnst 

 mentioned. 



The largest trade is with Germany ; next in 

 order are England, Franco, and the United 

 States. To the last country raw-sugar (papelon) 

 ha been exported for a few years past. 



The port* open to foreign commerce are 

 Lgnayra. Puorto Cabello, Maracaiho, and 

 Oindad-Bolirar, the last two having likewise a 

 transit-trade with the United States of Co- 

 lombia. 



The dnty on imports is in many cases equal 



to about 100 per cent, of the valne of the mer- 

 chandise. There is no export duty. 



Venezuela is the most backward of all the 

 Spanish-American republics in highways aud 

 means of communication between the pro- 

 ducing centres and the seaports. The pr 

 Government has, however, inaugurated some 

 praiseworthy improvements in this respect. 



Four regular lines of European steamers 

 visit the different ports, ami there is monthly 

 steam communication with New York. 



In the budget for 1873-'74, the revenue was 

 represented at $3,549,000 ($2,310,000 of which 

 was expected from imports and duties) ; and 

 the expenditure at $3,642,344, constituting a 

 deficit of $93,344. 



The public debt was stated at $120,804,560 

 in 1871, exclusive of a large indebtedness con- 

 sisting of indemnities for damage during the 

 civil war since 1870, and other liabilities not 

 yet determined; by all of which the total 

 amount of the debt would probably be r 

 to little less than $250,000,000 at the end of 

 1 S73. As no payments of either capital or 

 interest have been made for several years, 

 the republic is virtually bankrupt. A law was 

 promulgated on November :ii). !s7i. appropri- 

 ating 10 per cent, of the national revenue to 

 the payment of interest on the foreign debt, 

 amounting at that time to 2,000,000. The 

 conversion of this debt into a single emission 

 of the same amount was proposed to the Lon- 

 don creditors in July, 1873. In cose their 

 sanction should be granted, the interest would 

 commence from January 1st of the same year, 

 and bo paid semi-annually in Caracas as pre- 

 scribed by the bondholders. 



VERMONT. The financial condition of 

 this State appears to bo remarkably prosper- 

 ous. At the end of the lastflscal year, August 

 1, 1873, the whole amount of her funded debt, 

 including $187,000 of registered loan and cou- 

 pon bonds of various sums, maturing on De- 

 cember 1, 1874, 1878, 1878, and June 1, 1890, 

 respectively, was $438,000. The largest ono 

 of throe loans, amounting to $135,500, and 

 maturing the last of all, is held by the State, 

 and thoro is in the sinking fund $101,851.02, 

 to meet as much of the rest the deduction 

 of which two items from the above-mentioned 

 sum reduces the actual amount of the State 

 indebtedness to $195,049. 



The State receipts from all sources during 

 the year 1873 amounted to tSfifl.o.lJ 24: and 

 the aggregate expenditures to $fi2,2f>2.17: 

 leaving in the Treasury an available surplus of 

 $240,772.07. 



The current liabilities of the State, at the 

 beginning of the new fiscal year, wen- *::o,81.- 

 38; and the current resources, including $5,- 

 "> due on tates of 1872, amounted to 

 $24<l,027.-'i2 ; showing an excess of resources 

 over liabilities of $-Jl.",.Hr..<>!i. 



The revenue from State taxes assessed for 

 the year 1872, after deducting abatements and 

 collection fees, was $443,408.50. The net 



