COSTA RICA

Taranaki Daily News, Volume LII, Issue 156, 27 July 1909, Page 2

COSTA RICA

STANDARD OIL TRUST TO UUN THE COUNTRY.

By Cable—Prcs. i..isociation.— Copyright Received July 20, U. 40 l>.in.

London, July 2S.

The Times New York correspondent reports that, subject to continuation oy the Costa Kican Congress, an agreement iias beeu signed whereby the National City Bank, a Standard Oil Trust institution, assumes control of Costa Rica's liiuinces in return for a loan of three millions sterling.

Costa Rica is the southernmost republic of Central America, lying between, Nicaragua on the north and Colombia on the south. The capital is Sa-i Jose, with a population of 25,000. It is governed by a President, elected for four years, and a Chamber of 32 representatives, elected for four years by the "respectable' inhabitants, half of the number retiring every two years. The Constitution was promulgated in 1870, but was frequently interrupted by prommciamentos, and practically suspendel from 1870 to 1882. In principle nil citizens are liable to serve, but the per manent force is a police organisation numbering leas than 1000, with militia of about 12,000. The chief exports arc coffee, cocoa, and bananas. Valuable metals exist in various parts of the country, and the gold mines are being steadily developed. The length of railways is" about 350 miles. The area of the" country is 23,000 square miles; mo population* in 1007, 351,170. Revenue: lOOfi-T, £002,019; 1007-8, £757,557. Expenditure: 1906-7, £075,702; 1907-8, .l'S7l) 1 504. Foreign debt was reduced in 1885 to £2,000,000; interest in arrear to October 1007, £830,000; internal debt in 1007 £818,20(1. Imports: 1004, £1228,001; 190(1, £1,490,080; 1907, £1511,027. Kxports: 1904, £1,388,995r 1900, £1,811,072; 1907, £.1,870,820.