Page:Statesman's Year-Book 1921.djvu/834

 782 COSTA RICA

total length of 15,170 English miles withl22 telegraph offices. The number of messages in 1918 was 416,831. On December 31, 1918, there were 1,514 telephones ; the telephone lines had a length of about 640 miles, and the length of wire was 2,291 miles. Wireless telegraphy is working from Limon to Bocas del Toro (Panama) 60 miles, and to Bluefields, in Nicaragua, and to Colon, in Republic of Panama. Limon has a radius of 300 miles. The Government has a small wireless station at Colorado (mouth of R. San Juan, near Nicaraguan border).

Money, Weights, and Measures.

In October, 1914, the Banco Internacional de Costa Rica was established as a Government Bank of Issue. It is authorised to issue up to 19,000,000 colones in notes to bearer (guaranteed by Government 6 per cent. Bonds, un-issued balance of Costa Rica Gold Refunding Bonds of 1911, and other Government securities). There are three other banks of issue in Costa Rica, the Anglo-Costa Rican Bank (founded 1863) and the Bank of Costa Rica (1877), with a capital of 1,200,000 and 2,000,000 colones respectively, and the Mercantile Bank of Costa Rica (1908) with a capital of 1,500,000 colones. A branch of the Royal Bank of Canada was opened in August 1915. Banks of issue must keep a reserve in gold equal to 40 per cent, of their note circu- lation. The total notes in circulation on September 27, 1919, were 3,158,703 colones of the four banks of issue, of which 645,000 colones were of the Mercantile Bank (metallic reserve, 940,000 colones) ; 307,110 colones of the Bank of Costa Rica (metallic reserve, 814,936 colones) ; 549,240 colones of Anglo-Costarican Bank (metallic reserve, 787,412 colones) ; and 16,527,353 colones of the Banco Internacional de Costa Rica (metallic reserve, 613,735 colones). The Mercantile Bank of the Americas of New York has purchased a controlling interest in the Mercantile Bank (October, 1919).

On October 26, 1896, an Act was passed for the adoption of a gold standard, the monetary unit to be the gold colon, weighing 778 grammes, 900 tine (value about 22 - 9rf.). The U.S. gold dollar is worth 2 - 15 colones and the English sovereign, 10*45 colones. The new silver coinage consists of fractions of the colon, viz., 50, 25, 10, and 5-cent pieces "500 fine silver, which are legal tender up to 10 colons, copper being legal tender up to 1 colon. The copper coins are 10 and 5 cent pieces. There are also 50 and 25 cent and 1 and 2 colon notes (silver certificates). Gold and silver coins have practically dis- appeared from circulation ; copper coins in circulation amount to 246,223 colones. Total note issue on September 27, 1919, estimated at 23,101,655 colones (including 3,426,729 colones of Government silver certificates of 2 and 1 colon and 50 and 25 cents).

The metric system is now in use ; the following are the old weights and measures : —

The Libra .... =1 '014 lb. avoirdupois.

,, Quintal .... =101 '40 lbs. ,,

,, Arroba. . . . =25*35 ,,

,, Fanega =11 bushels (imperial bushel).

The old weights and measures of Spain are in use in the country districts but the introduction of the French metric system is legally established and in general use.