726 



PERU. 



rights the bondholders may embargo and sequestrate 

 all guano imported or sold in Europe without their 

 authorization or consent. In case the deposits of gua- 

 no should be exhausted before the complete amortiza- 

 tion of the debt as at present constituted, or the quality 

 become so inferior as to leave a loss by its manipula- 

 tion and sale, the Government shall cede its rights to 

 all its nitrate properties, to be handled in the same way 

 and for the same purposes by the bondholders, always 

 understanding that the latter will respect any obliga- 

 tions which the Government may have previously in- 

 curred on their account. The Government is also pro- 

 hibited from paying any debt of the state whatever by 

 means of deliveries of guano or nitrates, which is not 

 in accordance with the terms of this convention. The 

 bondholders will syndicate their claims, and will form 

 themselves into a civil society for the development of 

 the guano interests of Peru, according to the laws of 

 France or England. By this instrument the Govern- 

 ment is to recognize the jurisdiction of European tribu- 

 nal^ simply and exclusively, in everything relative to 

 the interpretation and execution of the present con- 

 tract, and the Government resigns all pretensions or 

 claims which may be contrary or prejudicial to the en- 

 joyment or exercise of the rights and privileges inher- 

 ent to the transfer of titles to the proprietorship of the 

 guano deposits or nitrate industries ot the country ; so 

 that in effect, by the acceptance of the terms of the 

 present proposition, the Government may enjoy a 

 revenue of 750.000 per annum, and provide for the 

 amortization of their debt at the rate of 375,000 per 

 annum, with certain advances promised instead of 

 those which the Government now enjoys under its 

 present contract, and an amazing discount on the en- 

 tire debtj with the sole obligation of losing the pro- 

 prietorship of their fast-failing guano deposits, and 

 possibly their nitrate- works, and all right of claim be- 

 ibre their own courts in case of disagreement with the 

 contractors. 



The exports are estimated at the average an- 

 nual value of $50,000,000, and the imports at 

 considerably less. Of the three chief articles 

 of export, guano, cubic nitre, and sugar, the 

 two former are government monopolies. The 

 exports of sugar have more than doubled 

 within four years. The value of the exports 

 to the United Kingdom in 1878 was $26,161,- 

 525, against $23,482,510 in the year imme- 

 diately preceding; and that of the imports 

 from the same at $6,849,155 in 1878, against 

 $6,331,970 in 1877. The subjoined tables, 

 from the report of the United States Consul at 

 the port of Callao, show the amount of trade 

 between that port and the United States in the 

 year ending October 1, 1878 : 



.EXPORTS FROM CALLAO TO THE UNITED STATES. 



Guano . $961,840 



Nitrate of soda 69,300 



Cochineal 10,185 



Hides and skins 5,802 



Wines, liquors, etc 587 



Firearms, etc 500 



Sugar 132,648 



Coca 



Coffee , 



Old iron 



Bags 



Wool 



Quicksilver flasks 



Opium , 



Spices 



Tea 



Salt 



Oil 



Salmon 



Bark 



Personal effects.. 



1,864 

 919 

 6,069 

 107 

 843 

 C98 

 8,080 

 20 



4,000 

 4,677 

 1,109 

 570 

 428 

 116 



Total $1,208.602 



IMPORTS FROM THE UNITED STATES THROUGH THE 



PORT OF CALLAO. 

 Lumber : 



Oregon pine $180,000 



White pine 90,000 



Redwood 40,000 



Oak 60,000 



Fitch pine 



General merchandise per sail, as per manifest 



General mechandise per steamers (estimated) 



60,000 

 986,000 

 480,000 



$1,876,000 



Deduct the following, included with cargoes of gen- 

 eral merchandise : 



White pine $90,000 



Pitch pine 60,000 



Oak 60,000 



190,000 



Total $1,686,000 



The difference between the totals of the two 

 foregoing tables, $672,398 constitutes the bal- 

 ance of trade in favor of the United States. 



The total exports from the republic to all 

 destinations, in the year just mentioned, were 

 as follows: 



Guano, 450,000 tons $18,000,000 



Nitrate of soda, 250,000 tons 12,000,000 



Sugar, 200,000 tons 15,000,000 



Hides and skins 1,000,000 



Wool 600,000 



Cotton 200,000 



Metals other than precious 800,000 



Silver 2,225,000 



Rice 150,000 



Miscellaneous 100,000 



Total $49,475,000 



We subjoin the latest official statement ac- 

 cessible regarding the nitrate-trade in the most 

 important district, the province of Tarapaca : 



These resources of immense wealth, how- 

 ever, gave rise to incessant disputes between 

 the Governments interested, and led to the dis- 

 astrous war now being waged between Bolivia, 

 Chili, and Peru. (For the motives and origin 

 of the war, see BOLIVIA and CHILI.) A Chilian 

 company founded at Valparaiso were working 

 the guano deposits on a grand scale, when the 



