PERU. 



663 



lakes of the republic. The creditors are to 

 have the right of at once founding a bank of 

 issue at Lima, with the exclusive privilege for 

 twenty-five years of issuing bank-notes, this 

 circulation to be backed by 33J per cent. cash. 

 The syndicate obtains 75 per cent, of the net 

 profits of the bank, after paying its shareholders 

 9 per cent, per annum. The bank is to manage 

 the home indebtedness of Peru, to secure 

 which the Government agrees to set aside an- 

 nually 8 per cent, of the customs revenue col- 

 lected at Callao, other revenue designated in 

 section 22 of the agreement, and its share of 

 25 per cent, of the net profits of the bank 

 after payment of the 9 per cent. Certain privi- 

 leges exempting the property of creditors from 

 taxation are stipulated in addition to those 

 enumerated. In return, the bondholders agree 

 to carry out the railroad repairs and construc- 

 tions stipulated, to pay the Government 20 per 

 cent, of the net earnings of the railways, and 

 25 per cent, of those of the guano deposits, 

 after the representatives or committee shall 

 have received therefrom the sum of 420,000. 

 The bondholders agree to surrender 50 per cent, 

 of the bonds they hold, the total outstanding 

 debt amounting to 32,000,000; the remaining 

 50 per cent, the committee take their chances 

 to recover from Chili as the owner of the ceded 

 province of Tarapaca. The bondholders fur- 

 ther agree to advance the Government at once 

 400,000, payable in thirty consecutive month- 

 ly installments, out of which the Government 

 engages to pay 6,000 a month toward defray- 

 ing interest on the internal debt, and transpor- 

 tation over the railroads of military and civil 

 officers, material, and mails. When the terms 

 of this agreement were made known in Lon- 

 don, the secretary of the Chilian Legation in 

 that city wrote a letter to the " London Times," 

 in which he warned Peruvian bondholders 

 against any illusions in connection with the one 

 half of the Peruvian bonded debt and the con- 

 quered province of Tarapaca, so far as Chili was 

 concerned. He referred to the treaty of peace 

 between Chili and Peru, by the terms of which 

 the conquered province of Tarapaca was ceded 

 without Chili's assuming any responsibilities 

 whatever that might be construed as if Chili 

 had considered, or ever would consider, them 

 pledged to Peruvian bondholders. He also re- 

 minded the latter that the highest English and 

 French courts of law have declared that the 

 bonds, however worded, constitute no lien 

 whatever on the territories acquired by Chili 

 by conquest, or on the stocks of guano and ni- 

 trate. Considerable opposition also came from 

 southern Peru, and neither the Government 

 nor Congress felt prepared to advance further 

 in the matter, which was left in abeyance pend- 

 ing a modification of the terms so as to satisfy 

 Chili, and the report from engineers sent out 

 by the bondholders upon the actual state and 

 value of the Government railroad system. 



Commerce. The import of merchandise into 

 Peru in 1884 amounted to $11,064,744, while 



the export of products reached $7,958,625. 

 The exports to Peru from England in 1885 

 were valued at $3,426,751 ; from France, 

 $1,399,492; and from Germany, $498,134. 

 The American trade with Peru has been as 

 follows : 



The South American Sanitary Congress. Early 

 in July, 1887, the Peruvian Government ad- 

 dressed a note to those of Chili, Brazil, 

 the Argentine Republic, Uruguay, Paraguay, 

 Bolivia, Ecuador, Colombia, Venezuela, Mexi- 

 co, and Central America, inviting them to send 

 medical representatives to a Sanitary Congress 

 to be held at Lima, and to open its sessions on 

 Jan. 2, 1888. The purpose of the meeting was 

 to prepare measures of protection against the 

 introduction and propagation of epidemics, 

 which for the first time invaded the west- 

 ern coast of South America during 1886, and, 

 if possible, arrive at an understanding on the 

 subject of quarantine regulations. All the 

 governments addressed promised to send rep- 

 resentatives. The idea which prompted this 

 action is all the more commendable as interna- 

 tional passenger traffic, trade, and mail service 

 suffered severely from the restrictions resorted 

 to in 1886 and 1887. The Congress opened on 

 January 2, although only the delegates from 

 Peru, Ecuador, and Bolivia were present. 

 Meanwhile, a Sanitary Convention had been 

 signed in December at, Rio de Janeiro by the 

 Sanitary Convention composed of delegates 

 from Brazil, Uruguay, and the Argentine Re- 

 public. The main causes agreed upon were 

 the following: 



Yellow fever, cholera morbus, and the plague are 

 the three exotic pestilences treated of, and the articles 

 considered pestiferous are clothing, cloth, rags, mat- 

 tresses, ana objects of personal use. also the boxes 

 containing them, and fresh hides. No other articles 

 are to be considered as suspected. Each party under- 

 takes to found a lazaretto and to establish in time of 

 pestilence at least one floating hospital. Quarantines 

 or other sanitary measures undergone in the lazaretto 

 of any of the three powers are valid for all the others. 

 The closing of ports to vessels from abroad is prohib- 

 ited, and no vessel is to be driven away, no matter 

 what disease prevails aboard. Packets and other 

 steamers carrying emigrants must have a doctor and 

 be supplied with a steam disinfcctor, medicines, and 

 disintectants, keeping,, besides, regular books of rec- 

 ord. A corps of ship sanitary inspectors is to be 

 established by each power, to embark in vessels, fis- 

 calize the execution of the sanitary provisions, and 

 report on all occurrences during the voyage. Strict 

 quarantine is limited to ten days for yellow fever, 

 eight for cholera, and twenty for Eastern plague, and 

 the time may be counted from the date of last case on 

 board, if duly verified. 



A Charitable Bequest. A worthy old Peruvian, 

 Jose" Sevilla, during the last years of his life 

 spent most of his time in the city of New 



