874
PERU
In 1897, 12,760,771 letters, post-cards, newspapers, &c., passed through the Post Office ; there are 320 offices. Revenue (1897) 259,478 soles, exclu- sive of a balance of 9,769 soles for former year from local offices ; expenditure, 261,360 soles.
Money and Credit.
The silver coined in the 12 years 1874-85 amounted to the nominal value of 9,841,582 soles ; that coined in the 12 years 1886-97, to 30,669,099 soles. For each of the last three years the value was : 1895, 4,150,966 soles ; 1896, 2,704,031 soles; 1897, 429,807 soles. In 1897 the mint was closed to the coinage of silver, and the importation of all silver coin prohibited. Measures have been taken for the conversion of silver coin into bars, to be exchanged for gold, the cost to be defrayed {pro tanto) by a surcharge on duties paid in silver. The executive is also authorised to coin money of the same weight and fineness as the English sovereign, and to accept English sovereigns and national gold coin as equal to 10 soles, the ratio being thus 31 to 1. The new gold coin will probably be made the monetary unit. Up to June 1, 1898 about 150,000 sovereigns had been imported, and about 23,000 Peruvian pounds, or libras, had been coined but not put in circulation.
In Peru there are three commercial banks : the Bank of Peru and London, with a paid-up capital of 2,000,000 soles; the Italian Bank, paid-up capital, 750,000 soles ; and the International Bank of Peru, paid-up capital, 500,000 soles. There is also a Savings Bank, with deposits amounting to over 1,000,000 soles. The condition of these four banks, collectively, on December 31, 1897, was as follows : —
Assets :
Soles.
Liabilities :
Soles.
Cash ....
5,135,839
Paid-up capital .
3,250,000
Advances, bills, securi-
Current accounts.
. 11,266,777
ties ....
11,320,342
Drafts pending .
11,500
Bank premises .
411,814
Rebate on bills .
46,647
Advances for Mortgage
7,100
Fixed deposits .
. 2,919,751
Liability of branches
Reserve Fund
160,992
to head office .
263,277
Profit and Loss .
204,158
Due from Banks in
liquidation
675,551
Installation account .
45,897 17,859,820
17,859,820
Money, Weights, and Measures.
The Sol = 100 Peseta = 20, Eeal
centavos ; actual value, about 2s. = 10, Medio Eeal = 5 centavus.
3Ieclio Sol = 50.
The Ounce ....
,, Libra ....
,, Quintal ....
. , r of 25 pounds
" ^01 wine or spirits
,, Gallon ....
,, Vara ....
,, Square Vara ,
1*014 ounce avoirdupois. 1-014 11). 101-44 lbs. 25-36 „ 6-70 imperial gallons. 0-74 ,, gallon. -927 yard. -859 square yard.
