102 



CHILI. 



which was, " in reality, hardly sufficient to 

 meet the requirements of the service now per- 

 formed hy the Chilian paper money, not only 

 at home, but in a considerable portion of the 

 South Pticitic coast." The Government was 

 represented as holding, at the date of the mes- 

 sage, a sufficient quantity of fiscal notes to re- 

 place the entire issue of treasury notes, which, 

 though reduced by rather more than one-third, 

 amounted to $26,000,000, of which $12,000,000, 

 deposited in the national Treasury, were bear- 

 ing interest at 5 per cent, pursuant to the 

 terms of the law of August 19, 1880. 



After stating that the custom-house yield 

 for 1880 had exceeded that for 1879 by nearly 

 $4,000,000, President Pinto remarks, as note- 

 worthy, that such increase was owing to "new 

 markets, and to increased production and con- 

 sequent development of consumption. 



" In the new territories successively occupied 

 by our troops, custom-houses have been estab- 

 lished with a view to make the war self-sup- 

 porting, as far as the unhinged condition of 

 affairs in those regions will permit. With the 

 reduction of the national expenditure to the 

 requirements of a normal situation, taking into 

 consideration the gradual increase of the rev- 

 enue, and the resources drawn from the con- 

 quered country, together with those to be de- 

 rived from the ultimate permanent occupation 

 of the Araucanian territory (which occupation 

 renders urgent and indispensable the passage 

 of the bill now before you relating to the 

 ownership of the land in that territory), we 

 have the encouraging conviction that the ex- 

 penses of the war will be defrayed without 

 further sacrifices. So far the Government has 

 not found it necessary to make use of the bill 

 recently passed for a new issue of $12,000,000, 

 and I believe recourse thereto will not be re- 

 quired in the present month. Nevertheless, 

 care and economy in new outlays are essential 

 to the establishment of our finances on a sure 

 foundation that shall enable us to redeem, at 

 an early day, our paper money, and return to 

 specie currency." 



The expenses of the war, up to the middle 

 of 1881, have been reported, on the authority 

 of the Chilian Minister to "Washington, at $60,- 

 000,000. Further particulars concerning the 

 war debt and the means for paying it off were 

 given in our volume for 1880 (article CHILI, 

 p. 97, et seq.). Keference may be made to the 

 same volume for a detailed statement of the 

 several loans, etc., constituting the national 

 debt of Chili, which debt was officially report- 

 ed as follows, on January 1, 1880 : 



Home debt . . $27.712.848 



Foreign debt 34,870.000 



Paper money 12,000,000* 



Total $74,582,848 



The foreign trade of the republic for 1879 

 was, according to first returns,! of the total 

 value of $59,360,226, of which $36,620,226 



* $25,000,000 in June, 1881. (See ante, p. 101.) 

 t See " Annual Cyclopaedia" for 18SO, p. 99. 



represented the exports. But in a later official 

 report the exports were set down at $42,657,- 

 839, and the imports at $23,226,781: total, 

 $65,884,620. It should here be remarked that 

 in the latter total is included that of the ex- 

 ports and imports at the new port of entry 

 Antofogasta $5,464,991, and $432,173, re- 

 spectively. Thus the value of the exports for 

 1879 exceeded that of the imports by $19,431,- 

 058, a result very largely contributed to by 

 the splendid wheat-crop of the year in question. 

 The quantity of wheat exported, mainly to 

 Great Britain, in that year, was 142,182,985 

 kilogrammes. 



The special trade of the republic in 1880 

 was of the total value of $81,404.539 exports, 

 $51,083,810 ; imports, $30,320,729 : balance of 

 trade in favor of Chili, $19,763,081. Included 

 in the exports were agricultural products of the 

 total value of $11,661,067, against $12,781,394 

 for 1879; and minerals of the total value of 

 $37,250,973, against $26,248,726 for 1879. The 

 wheat-crop was exceptionally unfavorable in 

 1880. 



The custom-house yield for the ten months 

 of 1880 ending October 31st reached $7,594,- 

 891, against $6,845,731 for the whole of the 

 year immediately preceding. 



The value of the annual exports of copper 

 the great Chilian staple to Great Britain, is 

 estimated at from $12,500,000 to $15,000,000. 



The imports from Great Britain in 1880 

 were as follows : 



Cotton fabrics. ... $4.428,375 



"Woolen fabrics 236,210 



Linen fabrics 145.-2S5 



Railway iron of all kinds 176,545 



Cast and wrought iron 134,790 



Total $5,123,205 



According to the report of the Bureau of Statistics 

 of the Treasury Department, the exports from the 

 United States to Chili for the fiscal year 1879 amount- 

 ed to 11,254,000, a decrease of 1723,000 from the pre- 

 ceding year, while the imports from Chili into the 

 United States during the same period amounted to 

 $643,000, a decrease of only $20,000 from the preced- 

 ing year. The trade of England with Chili during 

 the year 1878 was as follows : Imports from Chili, 

 $10,692,000, a decrease of nearly $12,000,000^ from the 

 imports of 1874, which occurred principally in copper, 

 wheat, and flour. Exports to Chili, $6,000,000, a de- 

 crease 'of nearly $8,000,000 from the exports of 1874. 

 As the decrease herein noted in the trade of England 

 with Chili is confined to no single year, but runs con- 

 secutively through all the intervening years, it shows 

 a steady decline in the trade between both countries. 

 The exports to Chili from England are composed 

 principally of the following articles : cotton manufact- 

 ures, $2,466,000, a decrease from the cotton exports 

 of 1874 of nearly $2,000,000, and of 20,000,000 yards ; 

 wearing apparel, arms, ammunition, bags and sacks, 

 beer, ale, coal, earthen and china ware, glass-ware, 

 leather and manufactures of, linens, jutes, machinery, 

 metals and manufactures of, paints, woolens, etc. 



The trade of France with Chili during the year 1878 

 was as follows : Imports from Chili, $3,000,000, about 

 the same as the imports of 1874 ; exports to Chili, 

 $3,500,000, a decrease of $4,000,000 from the exports 

 of 1874. The principal exports from France to Chili, 

 during the year 1878, in the order of their value, were 

 as follows : Refined sugar, leather and manufactures 

 of, woolen goods, cotton goods, mercery and buttons, 



