Bolivia— A Country Without a Debt 



579 



around these rapids and thus expedite 

 the Amazon route. The Pilcoma3'o and 

 the Bernejo are also rivers of importance 

 that flow toward the soutlieast and empty 

 ■into the Paragua}'. 



The eastern region of Bolivia is also 

 rich in grazing lands, where the stock in- 

 ■dustr}' promises to be highly lucrative. 

 Today there are found vast herds of wild 

 ■ cattle roaming over the lands. 



Lake Titicaca, on the boundary line 

 between Peru and Bolivia, is notable for 

 its great altitude, for its romantic tradi- 

 tions, and for the monuments of that dis- 

 tant epoch yet standing on the Island of 

 the Sun. The lake's surface extends 

 ■over an area of more than 5,200 square 

 miles. 



If the natural exuberance and richness 

 •of the eastern section of Bolivia is re- 

 markable for its products, the region of 

 the Cordilleras is, I will say, the great 

 storehouse of mineral wealth. The sil- 

 ver mines of Potosi, Oruro, Colquechaca, 

 Huanchaca, and many others have con- 

 •tributed hundreds of millions to the rich- 

 ness of the world. No less abundant are 

 the deposits of copper, bismuth, zinc, co- 

 'balt, gold, and tin. On speaking of the 

 commerce of Bolivia I will mention the 

 •quantities of these minerals exported to- 

 day. 



THE COMMERCE OF B0I,IVI.\ 



The main causes that hinder the devel- 

 opment of Bolivia's wealth are : The diffi- 

 culty and cost of transportation, the lack 

 of capital, and the scarcity of population. 

 "To what an extent the high rate of 

 freight hinders the growth of industries 

 in Bolivia, it is enough to state that coal 

 at the seacoast is worth from 18 to 25 

 shillings, or, say, $4 to $6, more or less, 

 -per ton ; taken to the mines in the interior 

 of Bolivia, according to the distance, yet 

 this may not exceed five hundred miles, 

 and the price will be from $40 to $80. 



A large number of mining enterprises, 

 as well as the eight banking institutions, 

 are financed with national funds. Re- 

 cently two German banks have been es- 

 tablished in La Paz. 



The constitution of Bolivia is very lib- 

 eral and is based on the unitarian system 

 of central government. The President is 

 elected every four years by direct pop- 

 ular vote. The legislative power is ex- 

 ercised by a senate and house of deputies, 

 and the judiciary by a supreme court 

 appointed by the senate, and by inferior 

 courts and other judges. 



Foreigners enjoy the same franchises 

 as the natives, and may hold property, 

 work the mines, etc., all in conformity 

 with the laws. 



Bolivia is the only country in South 

 America that has not suffered from 

 earthquakes, and when felt they were 

 almost imperceptible and of no conse- 

 quence. 



Within the last few years the interna- 

 tional commerce of Bolivia has increased 

 considerably. In 1905 it reached 69,665,- 

 000 in Bolivian money — an increase of 

 thirty per cent over the figures of the pre- 

 vious year — and according to the state- 

 ment of President Montes in his last 

 message to Congress, in 1906 it will reach 

 80 millions, and when the railroads now 

 in course of construction are completed 

 these figures could be easily doubled in 

 a short time. 



The commerce with the United States 

 has also grown in recent years, and the 

 construction of the railways will greatly 

 augment the present movement. The im- 

 portations into Bolivia in 1905 amounted 

 to $1,720,000; and yet this small sum is 

 a large increase compared with previous 

 years. On the other hand, the importa- 

 tions of Bolivian products into the United 

 States hardly reached $60,000, while Bo- 

 livia produced rubber, tin, cocoa, coca 

 leaves, Peruvian bark, and many other 

 articles of great consumption in the 

 United States, and which are purchased 

 in Europe to be brought here. 



The exportation of silver averages 

 13,000,000 ounces a year; of copper, 

 5,000 tons, more or less; the production 

 of tin grows from year to year, so that 

 from 1897, or ten years ago, when the 

 production was about 3,000 tons, it had 

 reached 17,000 in 1905, and during the 



