Page:Statesman's Year-Book 1899 American Edition.djvu/831

 MONEY, WEIGHTS, AND MEASURES 475

209,164 tons British). At Panama, Colon, Santa Maria, and Cartagena in 1897 there entered 923 vessels of 1,213,110 tons, and cleared 919 of 1,210,629 tons.

The total length of railways open in Colombia in 1897 was 400 miles. There are besides about 270 miles unfinished, and contracts have been made for the construction of 85 miles more. The roads of Colombia are simple mule tracks, but the Government is employing soldiers to improve the main roads. Thirty-three regular steamers visit Colombian ports every month ; of these 15 are English, 9 American, 4 German, 3 French, 1 Spanish, and 1 Italian.

In 1893 the Post Office of Colombia carried 302,410 'inland letters and post-cards, 615,844 samples, printed matter, &c., 70, 038. registered letters and packets, and despatched 342,440 letters and 206,171 printed papers, packets, kc, abroad.

There were 6,835 miles of telegraph in 1894, with 319 stations ; between June 1, 1892, and March 31, 1894, 317,507 telegrams and 2,509 cablegrams were sent out, while 372,630 telegrams and 3,322 cablegrams were received.

Under the superintendence of M. de Lesseps, a company was formed in 1881 for the construction of a ship canal, 46 miles in length, across the Isthmus of Panama, mainly following the line of the railway. The capital received up to June 30, 1886, amounted to 772,545,412 francs ; and it was expected that before the undertaking was completed this would have to be nearly doubled. It was attempted to raise a loan of 600 million francs in December 1888, but only a small portion of the sum was taken up. It was sought to form a new company, but without success, so that the company was compelled to go into liquidation and suspend payment and all operations on the canal (from March 15, 1889). In March 1893 a further extension was granted for the organisation of a new company to take over the business ; in 1894 a new company was formed, and work on the canal was provisionally resumed. Since then about 3,000 labourers, on an average, have been em- ployed, and it is estimated that the work may be completed in about ten years. On June 30, 1897, the company had raised, in all, 48,420,184 francs, of which 25,334,662 francs had been expended, and 18,976,987 francs in- vested or deposited as guarantee, the cash in hand being 4,108,534 francs.

Money and Credit.

In 1894 a law was passed providing for the redemption of the paper currency, the free coinage of gold, and the coinage of small silver pieces for the Government in European mints. There is said to be no gold in the country available for coinage, but small silver pieces are issued, amountino- in 1896, to 3,000,000 pesos. On December 31, 1894, the amount o*f metallic and paper money in the 4 banks was : silver, 1,903,832 pesos; nickel, 17,095 pesos; paper, 986,635 pesos.

In December, 1895, the papej- money in circulation amounted to 30,862,352 pesos.

Money, Weights, and Measures.

The peso, or dollar, of 10 reals is the legal tender, although the country people and retail trade generally adopt the old dollar of 8 r., which is usually meant unless peso fuerte or peso do ley is stipulatL-il. Its nominal value is is.