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Rh Ghent-Terneuzen canal. Agreement was reached, but a satisfactory settlement was prevented when, at the close of the negotiations, Belgium expressed the desire also to discuss the question of the Wielingen, which constitutes the estuary of the Western Scheldt and over which Holland had exercised rights of sovereignty since mediaeval times rights now disputed by Belgium on the ground of the modern notion of territorial waters; according to this conception Belgium would be able to close the Wielingen, i.e. the entrance to the Western Scheldt. Holland proposed to settle the matter either by arbitration or by dividing the Wielingen along the middle of the channel, so that Belgium would obtain permanent free access to Zeebrugge and the adjoining North Sea ports, while Holland retained her free access to the Western Scheldt. Nor had Holland any objection to retaining the existing situation, which had never given rise to any difficulties. But Belgium demanded a solution entirely according to her own wishes; and on these grounds she broke off negotia- tions in May 1920.

Holland joined the League of Nations in 1920, after having participated in the Labour Conference at Washington in 1919 and in the Seamen's Conference at Genoa in 1920. She was also represented at the assembly of the League of Nations at Geneva in Nov.-Dec. 1920. The Permanent Court of International Justice, in pursuance of the resolution of the League of Nations, was domiciled at The Hague.

In June 1921 the Cabinet of Ruys de Beerenbrouck saw their proposals for the reform of the army rejected, and tendered their resignation.

REFERENCES. A General View of the Netherlands. A series of 25 pamphlets on agriculture, industries, trade, fisheries, finance, engi- neering, education, art, literature, etc., published under direction of the Commercial Department of the Netherlands Ministry of Agri- culture, Industry and Commerce (The Hague, 1915); Annual and Monthly Figures concerning Holland and its Colonies; Staatsal- manak voor het Koninkryk der Nederlanden (State almanac for the Kingdom of the Netherlands, Annual, The Ha'gue, 1861) and many other official publications monthly and annual; R. V. Laming, Report on the Economic, Financial and Industrial Conditions of Holland for the year 1919 (Department of Oversea Trade, London, 1920); Elaine F. Moore, Economic Aspects of the Commerce and Industry of the Netherlands (Miscellaneous series No. 91, Washing- ton, 1919) ; J. B. Kan, Handelingen over de herziening der Grondwet (Acts concerning the revision of the Constitution, The Hague, 1912) ; J. van den Tempel, De Nederlandsche Vakbeweging en haar toekomst (Dutch Trade Unionism and its Future, 3rd ed., 1919); Jaarboek van den Nederlandschen Cooperatieven Bond (Yearbook of the Dutch Cooperative Federation, 1891- ); De Nieuwe Gids, Gedenkbek 1885-1910 (The New Guide, Album 1885-1910, The Hague, 1910); P. J. Blok, Geschiedenis van 't Nederlandsche Volk (History of the Dutch People, 4 vols., 1912-5); Gedenkstukken der Algemeene Geschiedenis van Nederland (Memorials of Holland's General His- tory) edited by H. T. Colenbrander (State Historical Publica- tions, vol. x., 1830-40, The Hague, 1919); N. Japikse, Staatkundige Geschiedenis van Nederland,^ 1887-1917 (1918) ; Oranjeboeken (Orange books containing informations and communications of the Minister of Foreign Affairs to the States-General on political and diplomatic topics 1914-21) ; Nederland in den oorlogstyd (Holland in War Time), under direction of H. Brugmans (1919 ); De Economische toekomst van Nederland (Holland's economic future, 1916-7) ; De Economische Branding (Economic breakers, 1920); P. J. Blok, Holland (1919) ; A. A. H. Struycken, Holland, Belgium and the Powers (1919) ; P. Geyl, Holland and Belgium (1920).

(P.O.*; A. E. M.) HOLROYD, SIR CHARLES (1861-1917), English painter-etcher (see 13.618*), died at Weybridge Nov. 17 1917. Many important additions were made to the National Gallery during his period as director, the chief of these being the Rokeby " Venus " by Velasquez. He also arranged for the transference of a large portion of the Turner bequest to the Tate Gallery. HOLTZMANN, HEINRICH JULIUS (1832-1910), German theologian (see 13.620), died at Strassburg Aug. 6 1910. HONDURAS (see 13.649). Miguel R. Davila, president of the republic of Honduras in 1909, was secure in his position only so long as President Zelaya of Nicaragua, whose creature he was, retained control. When Zelaya fell, Manuel Bonilla, the former president, who had fled from Honduras when Amalpa was sur- rendered in 1907, invaded the country from the north coast in 1910, quickly winning decisive victories. At a peace conference brought about by the United States the presidential power was confided provisionally to Dr. Francisco Bertrand. In the elec- tions which followed Bonilla was successful by a nearly unani- mous vote. He ruled until his death in 1913, when Dr. Bertrand, the vice-president, succeeded him. Bertrand was elected to the presidency in 1915. A Liberal revolution in 1919 was due to the claim by opponents of the Government that the election, then approaching, could not be fairly held. Vice-President Membreno and Gen. Lopez Gutierrez rose in arms against Dr. Bertrand. In Sept. the latter resigned and fled the country. Gen. Gutierrez assumed dictatorial control, though Francisco Bogran was titular head of the Provisional Government. In the Oct. elections Gutierrez defeated Membreno overwhelmingly. Deputies to the Congress and judges of the Supreme Court were then chosen.

The return of German property seized during the World War, in which Honduras joined by breaking relations with Germany May 17 1917 and by declaration of war on July 19 1918, was a difficult problem for the new Government, as was also the oft- recurring plan for the union of Central America. The Liberal party in power in 1920 declared itself to be ruling the country constitutionally, and to be labouring for the national develop- ment. The Government announced a policy of controlling foreign investments, which were large and important, by securing larger returns to the country from future concessions. Honduran representatives participated in the conference looking toward a unitary rather than a federal Central American union, and in Jan. 1921 signed the pact at San Jose de Costa Rica which pro- vided for the combination regime. The new union was pro- claimed Oct. 10 1921, and was composed of Honduras, Guatemala and Salvador. Nicaragua refused to sign the pact. Costa Rica signed, but this action was later rejected by the National Assembly. A new boundary agreement with Guatemala was arranged in Washington in 1919 through the good offices of the U.S. Department of State.

Economic and Social Conditions. The pop. in 1914 was estimated at 562,000 and in 1916 at 605,997. Education showed slight advances during 191020. In 1913 there were 916 primary schools with an average attendance of 25,917 pupils. In 1918 there were 965 pri- mary schools with 1,197 teachers, and 93,004 children of school age, of whom 33,127 were in attendance. In 1919 expenditures on education amounted to 384,980 pesos (nominally about 40,000), 63,406 pesos being furnished by the state and 321,574 by the munici- palities. The national expenditures for 1916-7 were estimated at 421,261, with revenues the same. In 1919-20 the figure for each was 459,872. The external national debt was estimated on Dec. 31 1914 at 25,871,222, and on Dec. 31 1919 at 27,261,317. No inter- est had been paid on the debt since 1872. The Government took over the partly built railway contemplated under the original loan, and slightly extended it. On April 17 1920 the National railway, 53 m. long, was delivered by the Government to the Compania Agricola de Sula as security for a loan of $1,000,000 to be used in reconstruction of the road. There are over 400 m. of fruit company railways on the north coast and 150 m. of poor automobile roads.

The Banco de Honduras and the Banco Atlantida are the active financial institutions, and in 1920 had paper to the value of $i 10,000 in circulation. In 1919 the exchange value of pesos and dollars was fixed at two for one, and U.S. currency was made legal tender at that rate. It is practically the only circulating medium. In July 1920 an American economist, A. N. Young, was employed to draw up a financial programme looking toward settlement of the debt, estab- lishment of a national bank, determination of limits for the budget, fixation of a monetary system based on gold, and general economic reforms in the matters of concessions, road building, administration of customs and development of resources.

The banana crop in 1920 amounted to 9,631,568 bunches, worth $2,872,475. Sugar, coco-nuts, silver bullion, concentrates, and hides were the other chief exports. Coffee production increases, while rubber decreases. The coffee exportation in 1919-20 was 1,091,977 lb., worth $216,918. Sugar and alcohol were new exports. Tobacco was raised in El Paraiso and Copan provinces, the crop being about 1,750,000 pounds. Indigo culture was reviving, and the Government subsidized henequin production. Cattle-raising was carried on by over 1,500 ranches, which devoted 150,400 ac. to grazing. Cattle exports fell off from 21,911 head in 1913-4 to 6,482 in 1919-20. Straw hats and cigars were the only manufactures for export.

During the period 1910-20 imports exceeded exports owing to investments of American capital in machinery, etc. The following table is fairly accurate as to imports, but in addition to the exports reported there are large clandestine transactions, and prices below the market are often used in compilation of statistics.

' These figures indicate the volume and page number of the previous article.