Ecuador : its ancient and modern history, topography and natural resources, industries and social development . ,521 45,200,896 21,993,470 Puerto Bolivar ... I40,OII 57,709 305,221 76,524 Ballenita* — — 104,035 57,030 ManglarAlto* ... — — 614,035 112,512 Machalilla* — — 1,022,335 292,452 Cayo* — — 1,784,400 788,356 Manta 9X3>362 5,374,585 2,127,890 Bahia de Caraquez 4,103,245 799,344 5,065,280 1,784,220 Esmeraldas 1,186,934 3r3,86i 4,592,503 810,528 Macara 54,376 26,103 H,530 Tulcan 14,065 2,648 M,550 7,852 Total 70,147,822 16,476,603 64,103,943 28,062,364 200,000 caadras in
Ecuador : its ancient and modern history, topography and natural resources, industries and social development . ,521 45,200,896 21,993,470 Puerto Bolivar ... I40,OII 57,709 305,221 76,524 Ballenita* — — 104,035 57,030 ManglarAlto* ... — — 614,035 112,512 Machalilla* — — 1,022,335 292,452 Cayo* — — 1,784,400 788,356 Manta 9X3>362 5,374,585 2,127,890 Bahia de Caraquez 4,103,245 799,344 5,065,280 1,784,220 Esmeraldas 1,186,934 3r3,86i 4,592,503 810,528 Macara 54,376 26,103 H,530 Tulcan 14,065 2,648 M,550 7,852 Total 70,147,822 16,476,603 64,103,943 28,062,364 200,000 caadras in the Pailon and at Atacamos) wereissued against £566,120, whilst $860,000 in Peruvian4.\ per Cent. Bonds were given in satisfaction of theremaining £516,000. These latter bonds were paidby Peru to Ecuador in liquidation of a debt contractedprior to 1834 with the old republic of Colombia, ofwhich Ecuador then formed part ; (3) interest onthe new debt was to be paid at the rate of 1 per cent,as long as the Customs receipts at Guayaquil shouldnot exceed $400,000 per annum. Of any excess over. <<O COMMERCE AND FINANCE 357 this sum the bondholders were to receive one-fourthuntil the maximum rate of 6 per cent, was attained. In 1868, however, the loan went into default. In1888-9 various unsatisfactory proposals were madefor the settlement of the debt, still in default, but with-out result. In 1890 an arrangement was drawn the conversion of the 1855 bonds, with progressiverates of interest and a sinking fund, the proceeds ofan additional import duty being assigned by Congressas security for the service of the debt. This arrange-ment was accepted by the bondholders subject to theold bonds being deposited in the hands of trusteesand cancelled only in the same proportion as thecorresponding new bonds were received. But theGovernment refused this condition, and in 1891 theEcuador National Railway Company, holding the con-cession for the completion of an impo
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Keywords: ., bookcentury1900, bookdecade1910, bookpublisherlondo, bookyear1914
