States 234,000 pesos, and to Central America 196,000 pesos. The leading exports are India rubber and coffee. In 1887 bananas to the value of 249,433 dollars were exported.

The commercial intercourse of the United States with Nicaragua for 5 years ending June 30 is indicated in the following table, based upon the United States official returns:

The chief imports into the United States for the year ending June 30, 1890, were: Coffee, $642,467; crude India rubber and guttapercha, $502, 271; bananas, 251,063; hides and skins (other than fur skins), $154,817, and wood, unmanufactured, $52,060. The United States exported principally in that year iron and steel and manufactures thereof to the value of $292,748; wheat flour, $115, 154; wood, and manufactures thereof, $105,783; provisions (comprising meat and dairy products), $104,489; cottons, $99,911, and chemicals, drugs, and dyes, $69,500.

Money, weights, and measures.-The Peruvian and Chilian sol, and the French 5 franc piece, are received in the country at their par value of $1, and are the coins most used. The small coins of 5, 10, 20, and 25 cents are generally of American and Spanish coinage.

The standard of measurement is la vara, which is equal to 3 feet (1 English yard=1.0941 varas); the league has 6,666 varas; the manzana=10,000 square varas; the caballeria=64 manzanas. The standard of weights is the pound 16 ounces (1.014 pounds avoirdupois); the arroba=25 pounds; the quintal=100 pounds.

THE NICARAGUA CANAL.

A concession for this ship canal was granted by the Republic of Nicaragua to the Nicaragua Canal Association of New York in April, 1887.

The Maritime Canal Company was organized for the purpose of

executing the work, and is proceeding with the construction of the canal. This company was incorporated by the United States by act of Congress, on the 20th of February, 1889.

The Nicaragua Canal Construction Company is now executing the work under contract with the Maritime Canal Company.

There was granted to the company of execution one year in which to commence the definite surveys, and one and one-half years in which to conclude the surveys and begin the construction of the canal, and ten years additional for its completion.

On the 8th of October, 1889, Nicaragua, by formal acknowledgment, recognized the initiation of the work of construction, and in September, 1890, appointed a commission for the purpose of making an examination as to the observance by the company of the provision in its concession, which required the expenditure of at least $2,000,000 within the last year of the second term. With the report of this commission before it, Nicaragua made formal acknowledgment of the fulfillment of the condition above referred to.

The total length of the canal route is 169.5 miles. The summit level is Lake Nicaragua, 110 feet above tide water. This is reached by means of three locks on either side. The canal is to have a bottom width of from 80 to 120 feet, and an upper width of from So to 288 feet. The depth is to vary from 28 to 30 feet. Of the entire route 142 miles are included in the river San Juan, the lake, and in the artificial basins. The total length of the summit-level reach is 151 miles, and will be available for rapid navigation.

The total estimated cost of the canal is $90,000,000, exclusive of bankers' fees, commissions, and interest during the construction. With tonnage dues at the rate charged on the Suez Canal a total of $17,500,000 revenue is assumed as probable. It is estimated that the canal will occupy six years in its construction.

The officers of the Canal Construction Company are as follows: President, Warner Miller; Vice President, A. C. Cheney; Treasurer, Henry R. Hoyt; Secretary, J. W. Miller; Attorneys, Daly, Hoyt & Mason; Chief Engineer, A. G. Menocal; General Manager, Geo. W. Davis. The office of the company is at No. 44 Wall street, New York City.

Paraguay.

Paraguay is situated in the central part of South America between 22° 4′ and 27° 35′ south latitude and 54° 32′ and 58° 40′ of longitude west. It is divided by the Paraguay River into Eastern and Western Paraguay, or, as the latter is called, Chaco. It is completely surrounded by the Republics of Brazil, Argentine, Bolivia, and Uruguay, from which it is partly separated by the rivers Parana, Paraguay, and Pilcomayo, and from Brazil by the Apa River and a range of hills which are not over 2,200 feet above the level of the sea. Paraguay is about the size of England, and one twenty-fifth that of the United States. The result of a survey made in 1870 gave the land in miles as follows: Arable, 42,600; hills and forests, 27,000; yerba fields, 5,040, besides 15,360 miles of private lands, making a total of 90,000 miles. It is estimated that there are now about 500,000 acres under cultivation.

Executive. The executive power is vested in a president, elected for four years by an electoral college, who can not be re-elected until after an interval of two terms. He receives an annual salary of $9,000, and the vice-president, elected for the same term, receives a salary of $4,500. The cabinet is composed of five ministers, to wit: Interior; foreign affairs; finance; justice, religion, and public instruction; war and marine. These ministers each receive $3,000

per annum.

Legislative. There are two houses of Congress, a senate and`a chamber of deputies. The members are elected directly by the people by plurality of suffrages. The senators are elected for six years, but are renewed by thirds every two years and are named in the ratio of one for every 12,000 inhabitants. The deputies are