248 



COSTA KIOA. 



'74, as compared with, the year before, an in- 

 crease of nearly $200,000 and $100,000 re- 

 spectively. 



The national debt of Oosta Eica amounts, as 

 stated in the ANNUAL CYCLOPAEDIA for 1873, to 

 $23,100,000, made up as follows : British loans, 

 $17,000,000 ; indebtedness to Peru, $100,000 ; * 

 and home debt, $6,000,000 .(inclusive of float- 

 ing obligations). That is to say, this, one of 

 the smallest states in America is burdened with 

 onerous liabilities at the rate of about $125 to 

 each inhabitant, a proportion much larger than 

 that of the indebtedness of England, France, or 

 Holland ; and, worst of all, she now finds that, 

 in spite of her natural resources, she has been 

 borrowing too fast. When, in 1871, her com- 

 merce was in a prosperous condition, and 

 promised to become still more so with im- 

 proved means of transportation for her prod- 

 ucts from the interior to the coast, and the 

 construction of piers in her seaports, a first 

 loan of 500,000 was ventured upon ; shortly 

 afterward, in the same year, another loan of 

 500,000 was offered for public subscription, 

 and was floated at the rate of 74, with interest 

 at six per cent. By May, 1872, the first loan 

 had reached a high premium, and the credit 

 of the republic seemed to be satisfactorily 

 established at the London Stock Exchange, so 

 that a third and a much larger loan of 2,400,- 

 000, brought out at so favorable a juncture and 

 under the auspices of influential bankers, was 

 received with full confidence, and bonds for the 

 whole amount save 173,000 were at once ap- 

 plied for. This loan Avas to bear interest at 

 seven per cent., with a sinking-fund of but one 

 per cent. ; to the payment of the coupons were 

 hypothecated the spirit, tobacco, and coffee 

 taxes ; and, for the final extinguishment of the 

 loan, the year 1903 was fixed upon. The first 

 two payments were duly made ; the bondhold- 

 ers were quite satisfied, and some of the stock 

 actually went to a premium; but not so the 

 third coupon, and Costa Rica is registered in 

 default since April 1, 1874, in the sum of 2,- 

 362,800. At a meeting of bondholders, held 

 on August 7th, at London, a resolution was 

 adopted for the appointment of agents in Costa 

 Eica to receive the proceeds of the revenues 

 forming the special guarantee of the loan, and 

 confidently regarded as adequate to cover the 

 entire claim. No doubt was entertained of the 

 willingness of the Government to redeem the 

 credit of the republic rather than allow its 

 name to figure side by side with those of Hon- 

 duras, Venezuela, Santo Domingo, and others 

 hopelessly insolvent. 



The item standing for public instruction in 

 the table of expenditure shows that the cause 

 of education is receiving more attention than 

 heretofore ; some of the school-buildings in 

 process of building in 1873 have been com- 

 pleted, and a few others have been commenced. 



The commerce still continues steadily on 



* Incorrectly set down at $136,000 by a statistical pub- 

 lication for 1874. 



the increase. The total value of the imports 

 in 1873 was $3,500,000, and that of the ex- 

 ports $3,775,196; of which $3,933,181 was 

 for coffee (25,167,975 Ibs); $48,576 for hides; 

 $17,753 for India-rubber; $12,920 for deer- 

 skins; and $37,872 for mahogany, cedar, and 

 other woods. 



The coffee-crop is reported as having been 

 very small ; but the deficiency in quantity was 

 compensated for by an unprecedented rise in 

 price, as much as $23 and even $24 per 100 

 Ibs. having been obtained at Puntarenas. The 

 following crop was likely to be very abun- 

 dant; the total yield was calculated at 400,000 

 quintals 60,000,000 Ibs. and the probable 

 price at Puntareuas at $20 per quintal. The 

 shipping at the port of Puntarenas was 95 

 vessels entered, with an aggregate of 15,464 

 tons ; while at Limon the number entered was 

 82, with 11,221 tons ; and the number cleared 

 79, with a total of 10,054 tons. Puntarenas 

 was visited besides by 91 mail-steamers and 

 one whaler, and Limon by 10 mail-steamers. 



The railway progresses steadily and, it is 

 said, satisfactorily, though rather slowly, and 

 a new contract with Meiggs which has been 

 talked of would at once dispel all doubt as to 

 the ultimate completion of the line. 



Trains already run from Alajuela, the inland 

 terminus, to Cartago, a distance of 26 miles ; 

 and from Limon, on the Atlantic, to near the 

 Eio Matina, say 21 miles, there are 38 miles 

 more in course of preparation ; and it was ex- 

 pected that, with the number of workmen em- 

 ployed, and the appliances at their disposal 

 500 men, and machine-shops and machinery 

 sufficient for a road 1,000 miles in length the 

 track would, by the end of the year, be com- 

 pleted to Pacuare, about 45 miles from Limon. 

 There are at the latter port, besides the ma- 

 chine-shops, a car-shop, a government-house, 

 storehouses, and dwelling-houses for officials, 

 and several frame buildings were to be put up 

 before the end of the year. Indeed, since the 

 Government took charge of the railway, no 

 effort has been omitted to secure dispatch and 

 the utmost economy in the construction of the 

 line. The sum monthly expended for keeping 

 the road in good condition is $3,233.75. 



No new telegraph has been constructed 

 during the year ; but it is now proposed to 

 submerge a cable 'from Limon to Aspinwall, 

 and to establish telegraphic communication 

 between Costa Eica and Nicaragua, San Sal- 

 vador, and Guatemala. 



In January occurred one of those massacres 

 of coolies which commonly mark the building 

 period of railways in the Spanish-American 

 republics of the Pacific coast. 



The only event to really disturb the public 

 peace during the year was an abortive at- 

 tempt to overthrow the Government. The 

 leader of the outbreak, which took place at 

 Puntarenas in October, was one Joaquin Fer- 

 nandez. The President declared the republic 

 in a state of siege, and decreed that all who 



