The sun. [volume] (New York [N.Y.]) 1833-1916, 1892-09-11
Nv.

Peru has suffered cruelty. although. in Mr..
Markham's opinion. from no fault Of her own
Is she capable Of regeneration? The question
is answered in tho affirmative by the author
OF this history. who highly approves Of the
Grace contract considered as a means OF
liquidating the country's foreign debt and OF
developing her internal resources. 1t is well
known that this contract was finally ratified
by the Peruvian Congress on Oct. %. 1889. In
pursuance Of this important instrument the
bondholders released Peru from all RESPONSE
bility for her foreign debt. which. with interest
up to 1886. amounted to upward Of 1857 O0O.-
600. In return the Peruvian Government coded
to the bondholders all State railways
for siXty-siz years. also the free use
Of tho Iuays at Mollendo. Pisco. An
con. Chimbote. Pacasmayu. Salave Try. and
Payta. Tho bondholders on their part
undertook to finish the railway from Chicla to
Oroya within three years. the line from Santa
Rosa to Sicuani within four years. and on other
alternative lines to complete 100 kilometres
within six years. and also to repair all the eN-
listing lines and put them in proper condition
railway and seaport concessions above noted.
the Peruvian Government granted to tho bond
mnolders the right Of free, navigation on Lake
Titicnca, with the provisO that tho vessels
should bn commanded by officers Of the Peru
Wan navy. also all the. guano existing in the
territory OF Peru up TO- the amount Of 3,OOo.oQO
tons. Peru only retaining for its own agricul-
turo the Guano remaining on the Chincha
Moreover. the Government agreed to paw for
thirty years, to the bondholdcrs SiOU.OOD II
year. secured on the Callao customs. making
count were to commence from tho fourth year
after tho contract, went into, operation. We
should add that tho bondholders were en-
powered to raise money by mortgaging rail-
was anh Guano up to a sum not exceeding
For tho purpose of carving out this con-
tract u company WAS formed in London in
April. 1880. called tho Peruvian Corporation.
Ia," Of n sIGo bond for 81 in rrei"rrmes' or
50. lS'W. tho, Peruvian railways were handed
over toth" Peruvian Corporation. ! nler ,h9
h pew r m,a,,nSTIm to- en al s1 1,S RAJ 1a,IW w,r. .'M worK h"r
Markham considers that the siEnin+ q the
the Presidency of Gen. larer"s; II Is:
in his opinion; 2 transaction MhiIh not
any S"m or at'e fare asru d ieGSt! b an w s4iiIo'I RI al ali ' ha.
p"riy II" Lslieyes thai r"rn nov has a
stable G"ynrnmcnt bent on peace ana on the
steady inillmont OF obligation, l. lnflher
pointed ont ti.t even in the rl>' tn" loliiIcal
When On" recalls tho history ~ H"rn, ono, is
not SURPRISED tbnt time has, t"ru ,%r,iuiren Tor
tho nrm Ms, nnnn and r"," gunn TGss ENG
mi-ciyliiIatio on well Adapted 10 mo people
who lived under 1t. and To" c%!I"nlaIl policy OF
Spain br"u-;lt about into!era lie suffering and
nearly annihilated tho natiN" population,
which IN tho course Of three centuries
was reduced from ten mi,Ions, to less
than u million. In retuln spain intro
dured many valuable European products
and hr.M%ht into n. ""mtry IN up;
families q SPANISH lineage woo>n Descendants
gamatch with thenhor'.inal s,rrk, Mr.. MARI
ham shows us IN his history Low these later
sons OF raru imbinnd Idea Of freedom. aud
fought brayciy and p"rSi-trntiy until they
secured their ind.!"nden"r. vt first, as
might have been expected in view o! their
total inrNpericnce. th.y w"r" Hnwisn in tho
use of the power at srif-guNornm"nt They had
to learn how IL use the gift, and they had t.
pHy for the lesson. Eat learn they ultimately
did. and they have undoubtedly made
progress. The impression current AMONG the
fil.!nformcd that Peru is II country "t per-
prtual and meaning rss DISTURBANCE and rnvo-
luton. Is counter 10 tho facts. In the whole
period o! It's existence, from lSHDto lSE, the
Peruvian republic had witnessed but seven
years OF evil ana foreign war, while il had on
Joyed iorty-fwo years OF peace. No doubt this
record Is more dismal than that Of most civil
lied nations even in spanish America: tut, on
the other hand. 1t must be recognized that
since Gen. Caceres became President there
have been many signs of political and social
as we'll as material Improvement. and that
now the we'll wishers OF Peru may look with
IN t,a hata m tI,a f,,tns.