THE OLD MINT OF POTOSÍ--BOLIVIAN COINAGE AND
BANKING LAWS--COMMERCE
Historic association and romantic interest combine to lend a peculiar
charm to the old Spanish edifices of colonial times that are still to
be seen in the various cities of South America. Though many of them are
in ruins, and others have been completely modernized to serve as new
public buildings or residences, there are still a few that preserve
the appearance they had when erected centuries ago “by order of His
Excellency the Viceroy.” Of these generally unclassified architectural
monuments, none possesses a greater claim to interest than the famous
mint of Potosí, the Casa Real de Moneda. Its history dates from the
most flourishing period of Spanish possession in the New World, and
is intimately connected with the accounts of fabulous wealth and the
records of terrible cruelty written in the annals of the seamed and
weather beaten Cerro de Potosí.
[Illustration: WOODEN MACHINERY FORMERLY USED IN THE OLD MINT
OF POTOSÍ.]
The first money coined in the Spanish-American colonies was made in
Mexico in the sixteenth century, when the first viceroy, Don Antonio
de Mendoza, who was afterward second Viceroy of Peru, issued the
decree to establish a mint. The coins were cut with scissors out of
hammered silver and were marked with a cross, which was the only seal
they bore. Some years later, the illustrious Viceroy Toledo, during a
visit to Potosí in 1572, ordered the construction of the Royal Mint of
Potosí. It occupied the site of the present palace of justice, the old
chimney of the foundry still remaining to mark the spot where, more
than three hundred years ago, silver from the famous Cerro was coined
into reales, of about the value of a dime. By a law passed soon after
the establishment of the mint, miners were obliged to leave here a
fourth part of their bullion, which had been assayed and smelted in
the royal foundries after the payment of the “fifth” and other fiscal
taxes, and this was reduced to reales and returned to the owner in that
form. In the seventeenth century the annual coinage reached the sum
of one million pesos, of eight reales, and counterfeiting began to be
practised on such a large scale that it was brought to the attention of
King Philip IV., who ordered a rigorous investigation and decreed the
death penalty against offenders. Several Spanish nobles were executed,
including the chief assayer of the mint, and a command was given that
all money held by private individuals as well as public officials
should be presented for examination. Within five days the amount
exhibited was thirty-six million pesos! Shortly after this episode a
royal decree was issued for the coinage of money bearing the stamp of
two columns, instead of a cross, but it was not until 1728 that a royal
ordinance established the circular form of the money, its standard, and
other important conditions necessary to a satisfactory basis of coinage.
[Illustration: FOUNDRY OF THE MINT, POTOSÍ.]
The present Casa de Moneda was founded in 1753, and required twenty
years for building, the cost amounting to nearly two million pesos. As
materials were cheap and laborers were paid practically nothing under
the _mita_ system, this cost seemed incredible to the Spanish
king, Charles III., who, when informed of the expense, exclaimed: “The
building must be made of silver!” But the beams of _tipa_ wood
and crossbeams of cedar, which are as solid to-day as when put in
place one hundred and fifty years ago, had to be brought from a great
distance and with enormous difficulty. According to the chronicles of
the period, there were single pieces of wood which cost two thousand
pesos each for transportation. Roads were opened and levelled through
the wild regions of eastern Charcas expressly for the purpose of
providing a route to Potosí from the hardwood forests of Tomina and
Orán, the latter being situated more than two hundred leagues distant,
in the present territory of Argentina. Thousands of Indians were
employed in the colossal task of constructing this large edifice,
which is a marvel of solidity and endurance. It occupies a central
locality in the city of Potosí, on the Plaza del Gato, and covers two
squares. Built of solid stone and brick masonry, its dome and floors
supported by beams of imperishable hardwood, it is as strong as a
fortress, for which purpose it has been used many times in the history
of the republic. The fiery orator Casimiro Olañeta called it, upon
one occasion, “the Bastille of Bolivia,” a title which has clung to
it with the persistence that is usually noted in the popular adoption
of comparisons suggestive of classical associations. The first money
coined in the new mint bore the bust of King Charles III. and the royal
arms of Castile. The machinery used in this coinage is still to be seen
in the museum of the mint, and is a curious collection of old wooden
wheels, spikes, and beams. The machinery for pressing the sheets of
silver to the required thinness before cutting out the coins is located
on the second floor, and was formerly connected, on the floor below,
with a treadmill which used to be worked by mules and Indians. The
whole apparatus is of the clumsiest and most primitive description.
[Illustration: LA PAZ CUSTOM HOUSE.]
The mint of Potosí, as it is operated under the present government, is
provided with modern machinery, the first purchase having been made
during the administration of President Melgarejo in 1868, at a cost,
it is stated, of three hundred thousand bolivianos. New machinery was
bought in 1900, and an order was given still more recently for the
purchase of apparatus necessary for the elaboration of the sulphides
of silver and of the ashes and sand that result from the treatment of
silver metal. All the machinery now in use in the mint was bought in
the United States. Since 1857 no gold has been coined, and by a law
passed in 1905 the English pound sterling is recognized as a standard
of exchange for the value of twelve bolivianos and fifty centavos;
but with the modern machinery, recently purchased, the government
is prepared to renew the coinage of gold whenever it may be deemed
advisable. Silver coins of fifty centavos and twenty centavos are the
only moneys issued by the mint at present, though this is a temporary
arrangement. During the year 1904 the coinage was eight hundred and
sixteen thousand nine hundred and thirty-seven bolivianos. The total
coinage of the mint, from its foundation to the present time, is one
billion eight hundred million pesos, silver, and about five million
pesos, gold.
[Illustration: TUPIZA CUSTOM HOUSE ON THE ARGENTINE BORDER.]
Outside of the section where the foundry is at work and where the
machinery is whirring in the busy process of turning silver bars
into half-dollars, or _medio bolivianos_, the Casa de Moneda
suggests the events of a century ago rather than of modern activity
and enterprise. The handsomely carved doorway is the work of artists
of the eighteenth century, and the _patios_, of which there are
several, are reminders of incidents that happened more than a hundred
years ago. In the inner _patio_, an old sun-dial marks the site of
the execution of Alonso Ibañez, one of the first patriots to die for
the cause of liberty in the New World. Passages lead from this court
to hidden recesses in the old building, some of them in a subterranean
labyrinth of turns and windings that are hopelessly puzzling to the
uninitiated. One cannot help speculating as to the possible uses
to which these dungeon-like alleys may have been put in the urgent
emergencies of revolutionary times, and a covered cistern built in the
thick wall between two suspicious-looking cells suggests all kinds
of weird and tragic scenes. The watchman of the mint says that the
old building is known to very few, and that he himself finds passages
which are new to him every time he makes a careful exploration. In the
first _patio_ a modern ornament, the work of an artist of fifty
years ago, occupies a conspicuous position over the central arch. It
is a huge, grotesque head, painted in vivid colors, and is said to
have been placed there as a caricature in disrespect for one of the
most radical of Bolivia’s presidents. It is the first object that is
seen upon entering the main _patio_ from the street, and is a
conspicuously striking adornment. In the unused part of the mint, on
the second floor, where the old machinery is preserved as a curiosity
and a valued relic, the rooms remain much the same as they were when
the noble officers of the Spanish king held sway as directors of the
institution. There is something fascinating in the glimpses which
the now deserted rooms afford of the character of those times, when
this great establishment, which was maintained at the price of untold
abuses and infinite intrigue, bore on every door some devout eulogy or
prayer. _O dulce Virgo Maria!_ is the pious sentiment still to be
read over the entrance to the old stamping room, and _O clemens, ó
pia!_ marks the doorway through which the unfortunate Indians passed
to work out their _mita_ on the treadmill or at the furnace. Not
less interesting is the library, in which are preserved specimens
of the coins and medals that have been issued by the Casa de Moneda
since its foundation. Around the walls hang old paintings which were
presented to the mint by King Charles IV., said to be the work of
famous painters of the Spanish court. Old parchments contain historical
records of value, and there are a few relics of the earliest days of
the first mint, though it is to be regretted that greater care has not
been taken to preserve these priceless treasures.
[Illustration: ARGANDOÑA BANK, SUCRE.]
According to law, the boliviano is the standard of the national
coinage. It weighs twenty-five grammes, contains three hundred and
forty-seven and one-half grains of pure silver, and is worth one
hundred centavos. But at present the silver money in circulation is
represented only in pieces of fifty, twenty, ten, and five centavos,
of a standard and weight in proportion to that of the boliviano.
When at par, the boliviano is worth five francs. It is now worth
about two francs. Exportation of silver money is free, but its
importation is prohibited. No money is recognized as legal except
that which is legitimately emitted by the state, in conformity with
the existing laws. Banknotes, popularly called _billetes_,
represent the equivalent of one, five, ten, twenty, fifty, and one
hundred bolivianos. It is not unusual in La Paz and elsewhere to see a
_billete_ divided into halves to make change, though the halves
are not accepted by the banks, and serve only as a convenience in
the use of small change. The amount of banknotes in circulation is
estimated at a little over ten million bolivianos.
[Illustration: GERMAN-CHILEAN BANK, ORURO.]
In order to increase confidence abroad and to promote economic
advancement at home, the government of Bolivia is giving special
attention to perfecting the monetary laws of the country. One of
the most eminent authorities on Bolivian finance, Señor P. Beer,
director of the German-Chilean bank, in La Paz and Oruro, who very
kindly furnished the information which is here given on this subject,
speaks in the highest terms of the favorable financial outlook for
Bolivia. The recognition of the English pound sterling as a standard
of exchange, equivalent to twelve bolivianos and fifty centavos is
an important step, as formerly the variations in the price of silver
caused considerable fluctuation in the value of the boliviano. It
is obligatory to pay half of all duties in gold, or, if paid in
silver, an increase of five per cent is charged to cover the cost
of the importation of gold. Fluctuations in exchange have greatly
diminished under the new law, having been reduced from three pence to
one penny and a quarter within the year. Under the present rule, the
minimum value of the boliviano is nineteen pence, the maximum twenty
and one-fourth pence. This is regarded as the first step toward the
introduction of the gold standard. The government is also considering
various projects for improving the banking laws. The emission of the
banks will be reduced and unified. When the Acre campaign exacted
extraordinary expenditure on the part of the government, the necessary
funds were secured by loans on the banks of the country. The National
Bank of Bolivia, the Argandoña Bank, and the Industrial Bank of La Paz
had the right to issue notes, or _billetes_, for the sum of their
paid-up capital, on the condition that thirty per cent of the notes in
circulation were covered by coin stored in their vaults. By a special
law, these banks were authorized to increase their emission to one
hundred and fifty per cent of their paid-up capital, and by this means
they were able to provide the government with the funds necessary for
the Acre campaign. In this way an internal debt was incurred, which at
present amounts to a little more than one hundred and fifty thousand
pounds sterling, covered by state bonds that are guaranteed by the
income from the customs duties of La Paz, about eighty thousand pounds
sterling annually. These bonds are amortised at six per cent, and the
annual interest on them is ten per cent, this arrangement being carried
out regularly twice a year, so that the debt may be considered as
practically cancelled. Another internal debt, consequent upon the Acre
campaign, consists of the pension roll, military salaries, indemnities,
etc., and is met by bonds of the Compensacion Militar, of which
twenty thousand pounds sterling are in circulation. Ten per cent is
amortised and the bonds earn ten per cent interest annually. The part
amortised is replaced by new bonds. Congress is at present occupied
with an old internal debt, amounting to about three hundred thousand
pounds sterling, which has not been entirely recognized, but which
will be paid as far as justifiable, with the approbation of Congress.
The municipal debts are confined entirely to private loans. La Paz is
contracting a loan of forty thousand pounds sterling, with which to
build new hospitals and to perfect the canalization of the city.
[Illustration: NATIONAL BANK OF BOLIVIA, SUCRE.]
Not only has Bolivia adopted methods for the improvement of the
national finances, but by treaties with the neighboring republics,
the government has recovered sovereignty over the import duties on
products and manufactures from the republics of Chile and Peru. Both
these republics formerly had the right to introduce their products and
manufactures free of duties, by virtue of temporary treaties. Under
the new treaties, Chile and Peru enjoy only the rights of favored
nations in bringing in their merchandise. It is estimated that the
increase in import duties arising from this arrangement will yield
Bolivia at least eighty thousand pounds sterling annually. Under such
auspicious circumstances the government is inaugurating a new era in
commercial development. There are several reasons why the statistics
of international trade give Bolivia a comparatively unimportant place
among commercial nations. When the foreign trade of Bolivia passed
through the ports of Peru, Chile, Argentina, and Brazil, without a
clearly defined law regarding the port privileges, the Bolivian exports
were largely credited to these countries, a condition of affairs which
can be corrected under the present system of customs regulations.
Limited facilities for transportation have been responsible, in a
great degree, for the lack of commercial enterprise which has hitherto
retarded the progress of the country, but this drawback has also been
overcome. Bolivia is no longer isolated from the rest of the world
because of the great wall of the Andes which looms up on one side and
the thousands of miles that stretch between it and the seacoast on the
other, since the problem of rapid transportation has been solved by
the inauguration of a complete system of railways. The importance of
railway facilities in promoting commerce is shown by the history of
the Antofagasta and Oruro Railway and the Guaqui and La Paz Railway.
As previously stated, since the construction of the former line the
shipments through the port of Antofagasta have increased seventy per
cent, and after the line from La Paz had been in operation a year
the statements of shipping showed an increase of fifty per cent over
previous years.
[Illustration: IMPORTING HOUSE OF MORALES AND BERTRAM, SUCRE.]
Liberal conditions govern the international relations of Bolivia, the
protective policy being moderate in the commercial system of this
country. Foreign merchandise, whether from Europe, North America, or
elsewhere, finds easy access to the markets here, and, in compensation
for the difficulties of transportation, advantageous terms are made
in the regulation of customs duties on goods of foreign manufacture.
Bolivia imports, chiefly, all kinds of machinery, hardware, furniture,
cotton and woollen goods, clothing, wines, spirits, canned goods,
and provisions. Every article imported must pass through one of
the Aduanas, or custom houses, of the republic, to be examined and
subjected to the customs charges, unless exempt by special laws,
such as govern the privileges of diplomatic representatives, who pay
no customs duties. The scale of duties on goods imported is fixed
every eighteen months, and rules from the date named by the national
Congress. The annual imports amount to one million five hundred
thousand pounds sterling in value, and the exports to two million five
hundred thousand pounds sterling, according to the latest statistics.
Peru takes first place in supplying the Bolivian market, with nearly
one-fifth of all imported goods. Germany follows with eighteen per
cent, England with seventeen per cent, and the United States with
sixteen per cent. The chief exports are silver, tin, copper, bismuth,
rubber, quinine, coca, and hardwoods. The mining industry provides
about eighty-five per cent of Bolivian exports, and rubber constitutes
the remainder, except about three per cent, which is represented in
quinine, coca, and miscellaneous products.
[Illustration: IMPORTING HOUSE OF BEBIN BROTHERS, CHALLAPATA.]
The principal shipping headquarters, in which are located the Aduanas,
or custom houses of the republic, are: La Paz, Oruro, Uyuni, Tupiza,
Tarija, Puerto Suarez, Villa Bella, Abuná, and the new Aduanilla, or
minor custom house, of Iténez, at the confluence of the Rio Verde
and the Guaporé, on the southeastern border of the Beni. The custom
house of Guaqui, the chief Bolivian port on Lake Titicaca, has been
removed to La Paz. The commerce through the custom house of La Paz
last year amounted to nearly a million pounds sterling, and import
and export taxes were collected in the sum of one hundred thousand
pounds sterling, representing the most important share of the trade
of the republic. The customhouse agencies of Port Pérez, Huaicho,
Pelechuco, Desaguadero, and Copacabana are dependencies of the La Paz
custom house. The Oruro Aduana is for the inspection of the commercial
movement that passes through the Agencia Aduanera of Antofagasta.
Last year’s report of the minister of finance shows the revenue from
import and export taxes at Oruro to be about thirty thousand pounds
sterling. Under the new treaty with Chile it is made possible to secure
more accurate figures regarding the exports through Antofagasta, which
are despatched from the Aduanas of Oruro, Uyuni, and Tupiza, as well
as from the tax-collecting offices of Potosí and Chayanta. Oruro is
the great exporting centre for silver and tin, which are produced in
large quantities in this region. In addition to the Agencia Aduanera,
or custom house agency, in Antofagasta, Bolivia has similar offices
in the ports of Mollendo and Arica. The custom house of Uyuni, which,
like that of Oruro, is one of revision, collects a storage tax that
constitutes one of its important sources of revenue. Its record of
commerce last year showed a notable increase over that of the year
previous, amounting to eighteen thousand pounds sterling. The Aduana of
Tupiza, near the Argentine border, secures its revenue chiefly through
the exportation of national products and by tolls, the import duties
amounting to about one thousand pounds sterling annually. Connected
with this Aduana are the small stations, or _resguardos_, of
Sococha, Talina, Estarca, San Pablo, Chaguana, Esmoraca, and Mojo, for
the protection of trade on the Argentine frontier. A great deal of
the commerce with Argentina, and, through its port of Rosario, with
other foreign countries, passes through the custom house of Tarija and
those of its dependencies, Salitre, Pulario, Padcaya, and Camacho, its
total commerce for 1905 amounting to about thirty-five thousand pounds
sterling.
[Illustration: STREET OF THE BANKS, SUCRE.]
The commerce of northern Bolivia which passes through Brazil is
conducted chiefly by means of Aduanas and Aduanillas in the river
ports of the upper Amazon. The chief of these is Villa Bella, at
the confluence of the Beni and the Mamoré on the great Madeira
River. It was established in 1880 as an Aduanilla and raised to the
more important rank in 1886. The distance from this port to Pará,
at the mouth of the Amazon River, is two thousand three hundred
and seventy-three miles. Most of the commerce of the Beni and the
Territorio de Colonias passes through Villa Bella, though since the
recent boundary settlement with Brazil, the frontier port of Abuná, at
the junction of the Abuná and Madeira Rivers further north, has been
increasing in importance as a shipping port for this region.
Eastern Bolivia has, in Puerto Suarez, a shipping place for merchandise
destined for the Paraguay River ports and La Plata. It is a thriving
town, situated on the western bank of the Paraguay, in the department
of Santa Cruz, opposite the Brazilian port of Corumbá. The dependencies
of the custom house of Puerto Suarez are La Gaiba, Marco, and San
Ignacio, also on the Paraguay River. Ocean steamers ascend the river
Paraguay as far as Puerto Suarez, and a regular line, that of the
Lloyd-Brazileiro of Rio de Janeiro, Brazil, has a weekly service to
Corumbá, which is one of the principal Brazilian ports on the Paraguay
River. With the completion of the new system of Bolivian railways,
Puerto Suarez will become one of the most important commercial centres
of the republic, as it is to be connected by rail with Santa Cruz and
the Beni, a region rich in natural products. There is now a well-beaten
road from Puerto Suarez to Santa Cruz, and surveys have been made for
the proposed railway. The commerce which passes through Puerto Suarez
is chiefly that of Santa Cruz and the Beni, and amounts to one hundred
and twenty-five thousand pounds sterling annually, of which two-thirds
is represented by the export of rubber.
[Illustration: GUAQUI, ON LAKE TITICACA, ONE OF THE CHIEF
SHIPPING PORTS.]
The commerce of Bolivia is conducted chiefly through large importing
and exporting houses in the various cities, and the financial
operations connected with it are carried on by means of banking
institutions in these cities. In the smaller and more remote commercial
centres the business houses are also banking agencies. The financial
standing of these important establishments furnishes the chief index
to the commercial prosperity of any section of the country. The oldest
bank of the republic now in existence under its original charter is
the Credito Hipotecario de Bolivia, which was established in La Paz
in 1870. Its authorized capital is ten million bolivianos, subscribed
capital two million bolivianos, and paid-up capital six hundred
thousand bolivianos. The president, Señor Don Fermin Cusicanqui is also
president of the Banco Industrial of La Paz, and is greatly esteemed
as one of the leading financiers of Bolivia. The vice-president, Señor
Don José Gutiérrez Guerra, to whose courtesy is due the acquirement
of valuable data for this chapter, is prominent in financial circles,
not only through his relations with this institution, but as one of
the directors of the well-known bank of Crespo and Gutiérrez Guerra,
of La Paz. The Credito Hipotecario de Bolivia has a branch office in
Cochabamba. In consequence of a fraud perpetrated in the Cochabamba
office a few years ago, which resulted in the loss of half a million
bolivianos, this bank suspended the payment of dividends for a time,
but the stockholders received eight per cent dividend for the last
half-year of 1905, showing that the institution has recovered from the
effects of its loss. The Banco Nacional de Bolivia, established in
1871, succeeded the Banco Boliviano, the first in Bolivia. It is one of
the most important in the republic, and has a paid-up capital of three
million bolivianos, with a reserve fund of nearly two hundred thousand
bolivianos. In 1906 a mortgage section was established, for which the
bank has a capital of one hundred thousand bolivianos. The dividends
paid to stockholders in 1905 amounted to ten per cent. This bank
has its headquarters in Sucre, with agencies in La Paz, Cochabamba,
Oruro, Potosí, Tarija, and Tupiza. The Banco Francisco Argandoña, of
Sucre, belongs to the Prince de Glorieta, the Bolivian minister in
Paris, and, although it is constituted an anonymous society, all the
shares are held by the Argandoña family, one of the richest in South
America. The paid-up capital of this bank is two million five hundred
thousand bolivianos. The principal agencies of the bank are located in
Cochabamba, La Paz, Oruro, and Potosí. The head offices, both of the
National Bank and the Argandoña Bank, are handsome edifices, situated
in the Calle de los Bancos, or Street of the Banks, in Sucre. An
important banking institution of Sucre is called the Banco Hipotecario
Garantizador de Valores. It was established in 1887, and has a
subscribed capital of one million bolivianos, with a paid-up capital
of one hundred thousand bolivianos. In 1905 a dividend of twenty-nine
per cent was declared on the paid-up capital. The emission of mortgage
notes in circulation on December 31, 1905, amounted to five hundred
and fifteen thousand three hundred bolivianos. These certificates bear
an annual interest of ten per cent, and are quoted in the market at
a premium of eight per cent. The Banco Industrial of La Paz does a
very large business, especially in western and northern Bolivia. The
authorized capital of this bank is four million bolivianos, its paid-up
capital is one million five hundred thousand bolivianos, and the
dividend paid in 1905 was fourteen per cent. It has branches in Oruro
and Cochabamba.
[Illustration: PUERTO SUAREZ, ONE OF THE PORTS ON THE
PARAGUAY RIVER.]
Cochabamba, as the centre of a rich agricultural district, having
extensive commercial relations, has several important banking
institutions. The Banco Hipotecario Nacional, founded in La Paz in
1890, has its headquarters in this city, where it was established in
1903. The subscribed capital of this bank is one million bolivianos; it
has a paid-up capital of one hundred thousand and guarantee and reserve
funds of thirty-three thousand bolivianos. A dividend of twenty per
cent was paid last year. One of the most recently established banks is
the Banco Agricola, of La Paz, created by law in 1902, and opened on
November 17, 1903. The authorized capital of this bank is two million
bolivianos, the paid-up capital six hundred thousand bolivianos,
the contingent and reserve funds eight thousand bolivianos, and the
undivided surplus four thousand and forty-four bolivianos. Twelve per
cent dividends were paid in 1905. The foreign banks of Bolivia are
represented by the German-Chilean Bank, which has its Bolivian head
office in La Paz and a branch in Oruro, and the Bank of Tarapacá, an
English institution. The chief headquarters of the German-Chilean Bank
is in Hamburg, the Bolivian agency having charge of all operations in
this country, such as the arrangement of loans, the issue of drafts,
letters of exchange, and similar business. There are several foreign
life insurance companies that have agencies in Bolivia, chiefly
Peruvian and Argentine enterprises.
Commercial progress in Bolivia owes a great deal to the efforts of
the commercial societies, which are generally composed of bankers
and importers or leaders in industrial development. La Paz, Sucre,
Oruro, and Tarija, each has a Camara de Comercio for the purpose
of stimulating trade; Cochabamba’s Circulo Comercial has the same
object in view; and the Junta Comercial é Industrial of La Paz seeks
the advancement of both trade and industry. These societies work
by methods similar to those of the various chambers of commerce in
England and North America, and among their members are managers of
foreign as well as native business houses. In all the larger cities
the Germans have established themselves in business, either on their
own account or as representatives of German houses. English, French,
Italian, Spanish, and North American merchants are among the European
residents of La Paz, Oruro, Cochabamba, Sucre, and Potosí, though the
Germans are in the majority. The importing house of Bebin Brothers, in
Challapata, supplies a large territory with European and North American
goods. The Bolivian house of Morales and Bertram is one of the most
important business establishments of Sucre, and the German importers
of Cochabamba have a flourishing trade. There is a growing demand
for North American goods, and it is now no unusual occurrence to see
an advertisement of _articulos Norte-americanos_ as an especial
attraction. The firms of De Notta and of Harris and Company, in La
Paz, deal extensively in North American novelties. But it is possible
even here to make a hopeless search without finding some familiar
articles, no especial effort having been made by North Americans to
introduce their merchandise. They are, as a rule, less informed than
the merchants of Europe regarding this country, and are far behind
the Europeans in learning the commercial needs of the nation. The
diplomatic and consular representatives of the United States accredited
to South America have had very arduous duties to perform in their
efforts to educate their own people regarding these republics in
general. The American minister, now in La Paz, Hon. William B. Sorsby,
has won the admiration and esteem of the Bolivians by his constant and
unfailing devotion to the task of making better known to the political
and commercial world of the United States the actual conditions that
govern Bolivia. The fact that sentiment is growing in favor of a
better understanding between the countries of North and South America,
and that trade between the two continents has increased twenty-five
per cent in the past ten years, is largely due to the persistent,
determined, and conscientious labor of the officials representing their
governments in these countries. They have succeeded in overcoming, to
some extent, the bad effects of sensational travellers’ tales founded
on events of fifty years ago, and they are using their powerful
influence to modify the prevailing ideas of the press, which still
seems influenced by a tendency to draw imaginary pictures of thrilling
social adventure and political pyrotechnics that are entertaining,
perhaps, but not quite up to date. However, journalistic pride will
not permit an antiquated idea to dominate beyond the period of its
usefulness. Within a short time the world will see the newspapers of
Europe and North America vying with one another to secure the account
of the latest advance made in the political or intellectual progress of
South America, instead of devoting sensational headlines to some stupid
riot on a feast day, an event of no more importance than the average
schoolboy’s row. Bolivia deserves that friendly judgment should be
passed on the efforts her people are making toward national progress.
Since the election of the present government nearly three years ago,
its officers have worked in accord and with energy to promote the
national welfare. Not a single change has been made in its Cabinet,
though “ministerial crises” have been a conspicuous feature of several
other South American governments. It is apparent to all who seriously
study the tendency of affairs in this country that the prospect is
bright for political and commercial progress, and that Bolivia is
destined to occupy, one of these days, an important place among the
great trading nations of the world.
[Illustration: THE NATIONAL MINT, POTOSÍ. BUILT UNDER THE
VICEROYALTY.]
[Illustration: WOMEN EXPERTS SORTING ORES, HUANCHACA SILVER
MINES.]