48 
MONOPOLY OF YELLOW OR CALISAYA BARK. 
Then, Sir, was it that the present National Bank of Bark was 
installed. 
The circular of January 28th, 1850, ordered the convocation of 
shareholders in all the departments of the Republic, and deter- 
mined the distribution among them of 500 shares. The present 
number of shareholders is 80, without including the contracting 
directors of the enterprise ; the former hold 293 shares and the 
la&er 207. It is to be observed, that according to the contract, the 
directors originally were to have taken but 100 shares, and those 
which should remain untaken at the end of the term of the convo- 
cation, which have amounted to 107. Each share is of $500 ; 
the enterprise consists of 500 shares, and the capital stock is 
$250,000. 
The Government entertains flattering hopes of the progress and 
advance of this establishment. It has but one foe — smuggling. 
The Government is striving and will strive to repress and chastise 
this with all the means of action conferred upon it by its authority, 
and imposed upon it by good faith to its engagements to the share- 
holders and the entire nation. Of the $142,000 which annually 
enter into the custom-house at La Paz for bark duties $20,000 
have been applied by a decree of the 28th of January, 1850, 
to the work upon the cathedral of La Paz. It was to be 
deplored that the construction of so grand a monument of the piety 
and civilization of that wealthy people should be paralysed by the 
scarcity of its funds, consequent on the continuance of the treaty 
with Peru, which has made unavailing the intentions of the law of 
11th October, 1844. 
The rich fiscal ingress of bark is until now wnolly due to the 
department of La Paz, and it was just that the Treasury should re- 
mit a small part of its duties in favor of the first work of that de- 
partment. The necessity of having the custom-house operations 
inhaling, weighing, and examining the quality of the bark destined 
for export, verified with the care and minuteness needed to avoid 
frauds prejudicial to morality and the public purse, has induced the 
Government to create the office of " Bark Inspector." Its salary 
is at present fixed at $1,200 per annum, and it has been conferred 
upon an individual who has merited the three-fold confidence of 
the Prefect, Municipal Council, and the Directors of the Bank. 
August 6th, 1850. 
