The New York herald., 1876-02-10
PERUVIAN FINANCE.

THE MONETARY CONDITION OF THE REPUBLIC
AND ITS CREDIT ABRoAD-EFFoRTs FOR THE
RELIEF OF THE TREAsURY-THE NITRATE
AND GUANo ETERRsTs
LIMA Jan 81 1876
All interest regarding the choice OF new PRESIDENT
seems to have vanished in OF the extremely dis
couraging condition Of financial affairs both an
abroad respecting national exchequer AS was
feared the interest and sinking fund on the Peruvian
foreign markets. due the 31st OF last Deccm-
ber is still unpaid and the first twenty five
years has the name Of the Republic been financially
dshonored. The
First-Thea declaration OF President Pardo in 1872
that the nation virtually bankrupt, error which
was Immediately combatted with vigor; but the voice
OF the Executive generally has the preponderancy.
Seeond-The extraordinary conduct pursued by the
administration toward bondholders abroad-raising
large Of money here the very guarantee offered
in security Tor the payment OF its obligations.
Third-The singular and even virulent anmosity mani
tested toward the house of Messrs Dreyfus Brothers
Co., from whose Golfers the necessities OF the
State have been covered when no other assistance
could possibly be obtained; and lastly the unheard of
reputation OF valid contracts entered into with the
Societe Generate Of Paris by plenipotentiaries ap
pointed ad hoe by the Executive.
FRENCH INTERESTS
The English French Journals leading exponents
opinion referred to- and have very clearly expressed
their sentiments respecting the matter. Disaster has
already beaen us and absolute ruin teens impending
There only of congratulaton and that IS
poor enough the effect that Of the principal
Peruvian Capitalists abroad who have been specuatng
on credit and honor OF their country have fallen
in the net and have in part paid their debt by the par
tia or total loss Of their fortunes Several Of these
have returned to Peru from their chaeaux Paris
and villas near London only to meet with the reception
they deserve.
WHAT IS SAID TO THE FOREIGN CREDITORS
As sop the government its creditors abroad
that commission will be gladly received, having for
It's object the inspection of the southern guano de-
posts aud that the fertilizer will be consigned to the
bondholders. This s consong; but in the meantime,
where Is the government to find ways and means for
the proper covering OF its internal wants for the pay
ment OF tho enormous civil military pension lists
which for the last twenty years have been the night
of the Minister OF FinanceS II Is true that,
owing to the enhanced tariff, import duties ex-
cessvey former figures but the drafts o the gov
eminent already accepted by the custom houses
neutralize that income for a semester in advance
THE NITRATE GUARANTEE.
Much Is expected from the appropriation OF the
nitrate establishments Up to the present writing
thrtysix ocnds as the manufactures and dependen-
cies are termed OF hftyone in operation have sig
nhed their willingness to accept the terms offered by
the government These thirty-six ofcinds have a
yearly productive power of 10, 600 600 quintals or
nitrate, and will be handed over at the government
appraisement, say more or less, eleven millions Of
hard dollars The others will be obliged TO pay
ward duty Of sixty cents per GENITAL. which now In
force, II they continue 10 furnish the article. The
government gives IN remuneration for these establish
ments bills on Europe payable within two years, a
comparatively favorable rate, and offers 70 the manu-
Lecturers who may desire to continue work buy ther
nitrate in the port Of embarkation at L70 OF hard
dollar per GENITAL OF course the Stale would be
gamer in this operation, because the properly pur
chased on It's own apprasement is given for balf ts
value
THE MANUFACTURES DISCOURAGED.
so disgnsted are the principal manufacturers that
they ready TO sacrifice rather than undergo further
hardshps In the way OF unenforced estaneos or mita
tons on export Increased duties and the corresponding
augmentation, meanwhile, OF production all fearing
greater calamites which, OF course Cutting the mar
kes abroad brings the prco OF the nitrate 10 the rdc
ulous hgure last quoted In Liverpool The capitalists
who still propose continuing their production are strong
as regards money power, and will base their Efforts on
the fact that the property bought by the government
will not elaborate large quantities. II being hoped that
by limiting shipments OF nitrate, guano may reach ts
formef ascendncy and the qualify Of the nitrate to be
sent abroad by the nonconiormists will be OF such
quality TO render tho business profitable although
on reduced scale.
RANKS.
The Executive hopes to obtain favorable proposals
from The banks regarding this business These
tutions win take charge OF the ADMINISTRATOR &c the
new negotiation, procuring heavy advances from the
consignees abroad, which will be given IN payment TO
the owners OF the purchased property account OF
their bills for sterling exchange, and thenaron ayshe
expense or many private fortunes will End Itself
evehtualy the owner Of The greater pcyton OF the
TaTapaca distFicte