Page:The New International Encyclopædia 1st ed. v. 18.djvu/451

* SPAIN. 387 SPAIN. 110,968 tons net; total, 1142 vessels of 541,964 tons. In 1901 18,241 vessels of 14.503.348 tons entered and 17,118 vessels of 14,302.589 tons cleared from the Spanish ports. There is ex- cellent communication with the chief Atlantic and ilediterrauean ports of Europe and with the Philippine Islands and Cuba, and regular steamer service between New York and Barcelona and the north and south coast ports of Spain. New Orleans has regular steam communication with Barcelona and Bilbao. The most important Spanish ports are Barcelona, Cadiz, Malaga, Bil- bao, Santandcr, Alicante, and Valencia. The railroad system connects all the chief towns with one another and unites Spain with France by two routes around the ends of the Pyrenees, iladrid is the centre of the Spanish broad-gauge railroad system. In 1900 the length of the railroads open for traffic was 8315 miles. Banking. The chief financial institution is the Bank of Spain. Its note issue up to 1.200,- 000,000 pesetas is guaranteed by a metallic re- serve of one-third the amount of the issue, half of which must be in gold. If the note issue exceeds this amount it must, up to 1.500.000.000 pesetas, be guaranteed by metallic reserves of at least 40 per cent, in gold and GO per cent, of the remainder in silver. For issues exceeding 1.500,- 000,000 and up to 2,000.000.000 pesetas. 50 per cent, must be guaranteed in gold, and 70 per cent, of the remainder in silver. On January 21, 1903, the notes in circulation amounted to 1,634,- 504,000 pesetas: capital and reserve. 170.000.000; deposits and accounts current, 017,431,000; prop- erty, 11,305.000: portfolio, 1,542,825,000; cash in hand. 901,924,000. Finance. The revenue of Spain in 1901 amounted to $170,998,000 and the expenditure to $174,752,000. Revenue is raised by direct taxes on land, trade, mines. Government salaries, etc. ; indirect taxes are derived from imports, articles of consvimption. tolls, and bridge and ferry dues; other sources of revenue are the tobacco mo- nopoly, the lottery, mint, and receipts from the sales and rentals of national property. The de- tailed estimates of revenue and expenditure for 1903 were as follows: Revenue Pesetas Direct taxes on land, trade, mines. Government salaries, registration, etc 421. 967. 9.10 Indirect taxes, customs, excise, etc 323,710.000 Tobacco raonopolj, lottery, mint, and minor sundries lM,«70.n00 National property : Revenue 19,907,797 Sales 2,770,000 From the public treasury 12,862,500 In 1901 the outstanding debt amounted to $1,727,994,620 bearing interest at 4 and 5 per cent. Details of the outstanding debt on March 31, 1902, are as follows: Pesetas Recognized debt to the United States :),i«]ii,(ioo External -1 per cent 1,226,,h7m.7(f4 Perpetual internal 4 per cent 5,9o:j,20.s,'jT(l Redeemable internal 5 per cent l,190,usu,umj Convertible internal, Cuba and Philippine 87,009,000 Guarantee stock 2.000,000.000 Total 951,178,227 Expenditure Pesetas Civil list 9,200,000 Cortes ■. 1.838,085 Public debt, ; 409.092.0.'>4 Various 1.365,900 Pensions 71, 780,. 500 Council of Ministers 735,8.s3 Ministry of State ,1.002,212 " Justice and Worship 54,171,544 " War 144,012,982 Marine 35.036,201 Interior 51. .543,426 " Instrnction, etc 43.122.259 Public works, etc 73,283.908 Finance 16,.500,845 Tax-collecting 29.076.099 Colonial 2.000,000 Total 948,661,( Total 10,410,180,974 Government. The present Constitution of Spain was proclaimed June 30, 1870. It declares the government to be a constitutional monarchy with the executive power vested in the King. The King is forliidden to alienate or exchange Span- ish territoiy, or to admit foreign troops into the realm, or to make treaties of alliance, of commerce, or of subsidy or such as impose burdens on Spaniards, or to abdicate the crown in favor of a successor without special authori- zation by the Legislature. The sovereign is de- clared to be inviolable and irrosponsilile. He is aided by ministers who countersign all liis oflicial acts and who thereby assume the responsibility for them. Since the abolition of the Colonial De- partment in 1899 the Ministry has been organ- ized as follows: President of the Council; Minis- ter of Foreign Affairs: Minister of ,Iustice: ilin- ister of Finance; Minister of the Interior; Minister of War; Minister of Marine; Minister of Agriculture. Commerce, and Public Works; Minister of Education, The Ministers have seats in the national legislature and are permitted to take part in the debates. The legislative power is vested in the King and a Cortes composed of a Senate and .a Chamber of Deputies, the two Houses having substantial equality of powers in legislation. The Senate is composed of three classes of Senators: First, those entitled to seats in their own right {Sciia- (lorcs de dcrecho propio) ; secondly, 100 life Sena- tors nominated by the Crown from certain desig- nated classes; and thirdly. ISO Senators elected by communal and municipal delegates and by the provincial estates, the Church, the universities, learned societies, etc., and by the largest tax- payers. The first two groups must not exceed ISO members. Senators by right embrace the adult sons of the King and those of the immedi- ate heir to the throne ; Spanish grandees who have an annual income of at least $12,000; captain- generals of the army, admirals of the navy, the patriarch of the Indias and the archbishops, and the presidents of the councils of State, of war, of the na-y, of the Supreme Court, and of the tribunal of accounts. One-half the elective Sen- ators retire every five years; and all retire when- ever the King dissolves the Senate. Tlie Cliamlior of Deputies is composed of 431 members chosen for a term of five years by popular election. Eighty-eight Deputies are elected by general ticket in 26 districts, provision being made for minority representation. The members are ap- portioned on the basis of one to every 50.000 of the inhabitants. They must be twenty-five years of age. By a law of 1890 all male Span- iards twenty-five years of age who are in the full enjoyment of their civil rights and who have been citizens of a municipality for at least two years are qualified voters. The Depu-