Page:Statesman's Year-Book 1921.djvu/1308

 1256 SALVADOR

Skipping and Communications. — In 1919, 329 steamers entered at the ports of the Republic, with a tonnage of 412,172.

A railway connects the port of Acajutla with Santa Ana and La Ceiba ; with this system San Salvador, the capital, is connected — a distance of 65 miles. Another line (the International Railways of Central America) runs from the eastern to the western boundary of Salvador. The first section (La Union to San Miguel, 40 miles), was completed in 1912; the second (San Miguel to Zacatecoluca and San Vicente) in 1915 : the third (San Vicente to Cojutepeque) in 1920. The length of the line is at present 133 miles ; when completed it will be 151 miles. Another short railway connects the capital with Santa Tecla. Total length of railway open (1918), 213 mi es all of narrow gauge. There are 1,476 miles of good road in the Republic.

In 1919 there were 162 post offices, which received 3,035, 71S pieces of mail matter and despatched 4,318,139 pieces. In 1919 there were 229 tele- graph offices and 2,351 miles of telegraph wire, over which passed 1,516,333 telegrams. There are 220 telephone stations and 1,321 miles of telephone line. Three wireless stations are in operation in San Salvador.

Money, Weights, and Measures.

MONKT.

There are 3 banks of issue, the Banco SalvadoreRo (paid-up capital, 3,500.000 pesos silver), Banco Occidental (paid-up capital, 4,000,000 pesos silver), and Banco Agricola Commercial (paid-up capital, 1,300,000 pesos silver). On December 31, 1919, they had notes in circulation to the value of 14,635,848 dollars.

In August, 1897, a law was passed adopting the gold standard. The import of debased silver coin is prohibited. In October, 1899, the Salvador mint, formerly the property of a company, was transferred to the Govern- ment.

According to the law of July 16, 1920, the theoretical monetary unit of Salvador is the colon, a coin containing 836 milligrams of gold 900 milesimos fine. The colon, which represents 100 centavos, will be issued in denomi- nations of 5, 10, 20, and 40 colones. Auxiliary silver coins are to be minted in denominations of 20, 50, and 100 centavos each, and nickel coins in de- nominations of 1, 3, 5, and 10 centavos each.

National gold coins and gold coins of the United States of all denomina- tions are unlimited legal tender, the United States coins having a fixed value of 2 colones to the dollar. National and United States silver coins are legal tender in an amount representing up to 10 per cent, of each payment, and national nickel coins in amounts up to 2 per cent, of each payment.

The coinage of silver must not exceed 10 per cent of the total fiduciary circulation, and that of nickel must not be in excess of 5 per cent, of said circulation, and in no case shall nickel be coined in an amount exceeding 1,000,000 colones.

With the exception of United States gold and silver coin, foreign money is not a legal tender in the Republic, and payments contracted for in such money shall be liquidated by the equivalent of the money in question tendered in United States gold, or in colones, at the rate of exchange ot the place of payment on the date of settlement.

By a Decree of February 12 1920, an Exchange office waiuestablished for San Salvador.