GEOGRAPHIC LITERATURE 
85 
the event of the building of the canal. Another advantage of transcendant 
impoi’tance is that of Ascension bay, which is one of the largest and deep- 
est harbors in all INIexico, and with the exception of Acapulco, on the 
Pacific, affords a safer anchorage than any other. This is a desideratum 
of no little magnitude when it is known that most of the Mexican gulf 
ports are open roadsteads and that in the winter months, when northers 
are frequent, shipping is hazardous and uncertain. 
Up to 1891-92 the credit of A'ucatan in Europe was unlimited and her 
merchants enjoyed an enviable reputation for integrity, but they were 
overtaken by the financial crisis, which found them overstocked and 
deeply indebted. Collateral securities shrank, debts contracted in gold 
had to be met with its equivalent in silver, which had coincidently de- 
preciated in its paying value 50 per cent; money became stringent and 
finally the collapse came. Many large dealers in diu^ goods and miscel- 
laneous articles were forced to suspend. They represent to European 
creditors millions which are hopelessly lost. This unfortunate state of 
affairs is largely due to the long credit system. However, this salutary 
lesson has had the effect of restricting them to more business-like meth- 
ods. Tlie tide of trade will eventually turn to the United States, this 
market affording quicker transportation facilities. 
The chief aidicles of imijort embrace groceries, canned goods, etc. ; dry 
goods, notions, cashmeres, men’s furnishings, millinery, and hardware of 
idl descrqitions, except plows, hoes, etc., which are not used. 
Hennequen (sisal) is the chief export. The annual output is neai’ly 
400,000 bales of 400 pounds each. In the first quarter of the present year 
there were shipped 81,030 bales, valued at 8582,932.50, United States cur- 
rency, on which state and federal duties amounting to $132,48] ($71,612 
United States currency) were paid; over 12 per cent ad valorem. Of the 
81,030 bales shipped, 66,269 were destined for the United States. With 
the exception of a small fraction, they were transported in other than 
American vessels. The August, 1895, imports amounted to 6,568 tons ; 
2,1.33 tons were imported in American vessels ; 4,435 tons in English, 
Norwegian, and German vessels. The exports amounted to 6,600 tons, 
of which 560 tons were exported in American vessels and 6,040 tons in 
English, Norwegian, and German vessels. 
From .Tanuary to .lune, 1895, there were shijiped to interior jtoints of 
IMexico 3,070 tons of coarse, unrefined salt. The bigh tariff on foreign 
salt makes it an expensive arti(;le. The home mines are difficult to work, 
and as in most cases they are only surface deposits of the .sea the yield 
<lepends greatly upon the weather. 
'fhe exports of logwood for the first three months of 1895 show 2,6:J4 
ton.«, valued at $80,000 in United States currency, clean'd for Euroj)ean 
countries. Other articles of export in small (inantilies are hides, ham- 
mocks, sarsaparilla, etc. The total <h;clared exixndsto the rnited .States 
for tin; fiscal yearending .Jnn(*.'!0, 18‘)5, were: From I’rogreso, $2,062, ftOfI ; 
from 5Ierida, $897,702 ; total, $2,i»60,lil 1 in United Statt's currency. 
Value of imports during the fiscal year 18!)4-’95, $l,0!»2,fl81 ; valueof e.\- 
])orts, $8,37(i,()80. Total amount of federal duties ]>aid thereon, $1,1 55, 9.32. 
