PRODUCTION — COMMERCE, ETC. 1151
in the National Bank. The foreign debt consists of bonds to the value of 556,600J. issued in the United States for railway construction, &c. The internal debt amounts to 119,400/.
The Rppublic has no army or nary to snpport. The National Police Force numbers 69 officers and 750 men.
Production. — The soil of Panama is of great fertility. Of the whole area about live-eighths are unoccupied, and of the remainder only a small part is properly cultivated. Immigration is encouraged, and land is offered to small farmers on favourable terms. The most important product is the banana. Caoutchouc (about 130 tons annually) is collected by the Indians of the Cordillera, or is obtained from trees planted by Europeans near the coast. Coffee (about 500,000 bushes) is grown in the province of Chiriqui, near the Costa Rican frontier. In the province of Code (Atlantic coast) there is one large agricultural undertaking, begun in 1894 with German capital. Here about 75,000 cocoa trees, 50,000 coffee bushes, and 25,000 caoutchouc trees have been planted and are now beginning to yield returns. Other products of the soil of Panama are coconuts, mahogany and other woods, copaiba, sarsaparilla and ipecacuanha. Sugar and tobacco growing are assuming importance. The total production of sugar for 1918 is estimated at 40,000 quintals. The country has great timber resources. Cattle rearing is carried on successfully, and hides form an important article of export. In 1916 the live stock was estimated at 200,000 head of cattle, 15,000 horses, 2,000 mule*, 30,000 pigs, and 5,000 goats.
Pearl fishing is carried on at the Pearl Islands in the Gulf of Panama, and at Coiba Island to the west. Turtle-shell is also exported to a considerable amount. It is claimed that Panama possesses nearly every common mineral except coal.
Commerce, Shipping 1 , Communications.— The imports and exports
(excluding the Canal Zone) for 6 years are shown as follows : —
Year
Imports
Exports
Year
1917 1*19
Imports
Kxport«
ion
1015
ioir.
C
1,977 1,861,
,173
£ I,'l32.fi00 669,652 1,141
£ 1.921,490 1,609,395 2.JS1.376
£
1,153,413
1 .<>*~>7,923
785,711
Of the total imports in 1919, 82 per cent, came from the United States (exclusive of canal materials), 7 per cent, from the United Kingdom, 4 \hst cent, from China, 2 per cent, from Japan, and 1 per cent, from France. The principal exports in 1919 were bananas, coconuts, balata, hides, and gum.
Total trade between Panama and the United Kingdom (Board of Trade returns) for 5 years : —
1916
1917
191S
1919
£
25n.2til .211,588
1920
Imports from Panama to U.K. fcxports to Panama from U.K.
•4,846
. 2.54,797
20.248 243,586
£ 84,731 173,246
£ 2*9,54* 609,880
