New-York tribune., 1901-06-16
AoUIL To QUITO.

t,ntion of foreign investors. company of
American and English capitalists is building
railroad from chimbo tn Quito. piercing the very
heart of the Andes; others with the pioneers in
D.. mt love for adventure. are pushing their way
into the interior ahead of the railroad taking up
Land for haciendas and prospecting in the
mountain chains and valley streams for the gold
regions, which were the source of the wonderful
wealth of the Incas
hs interest i'm Ecuador's resources dates
hack only five six years. when Elroy Alfaro
to- h advantage of eX-President Flores's embar-
rassment. caused by his connection with the sale
a. the Chlan cruiser Esmeralda To Japan, To
SIZE the government and proclaim himself die
tat"r.
FROM EMILE To PRESIDENT
Alfaro is a native of the Province of Manabi.
u hen "A young man he officer in the
aIlnY, and was expelled for organizing
spiracy against the government His career
from exile President is similar To that of
President Pando of Bolivia. IL is story of
revolutions. Few SUSPECTED that such a stormy
r"trel would prove a wise executive, but these
fcW seem to have correctly Judged the man and
his capacity for government. TIE year after he
proclaimed himself dictator ne held election
ana wa> DECLARED constitutional President. As
s""n this Was done liberal policy
Established. the power of the Church was wiped
,ut the Archbishop was deprived of his seat in
IN. Cabinet. and the official perquisites which
tht clergy had long enjoyed We're cut off. The
President claims To bee a good Catholic hut
maintains that the Church should keep its in
nu"noe out # politics and devote its attention
1" IN, spiritual Welfar, of the people
Th,- clerical element did not submit to being
deprived "f the power il had 50 long enjoy ed
A Several revolutionary
nents were started in the first two years Of
Aifaros rub. hut they put down with
strong hand
GOLD STANDARD COUNTRY.
Like most 81 thu republics in Latin America
Ecuador has suffered greatly because 80 its
deprecated currrncy. hut a. tn country is now
ug"n gold basis it is hoped its credit viii soon
is restored The new financial Law went into
effect on January of This year II was passed i,y
th- Congress Of lS:c' hut tao years Was all ,l,-i
before n became las in order 20 afford an oI
I"rtunity 10 Withdraw and redeem an uncertain
amount of money then in circulation. Martin
li,.nl'ers- Init.d States Vic,-Consul at Guaya-
quii. drafted tae law with The asSistanc- ~ "A
c"umitt.e Il bankers and merchants o. HON
m" matter Was referred hy the President
Under IA, new law a bim-taliic ratio ~ ::,G
L" is established Tn gold condor valued al
- - ia American gold. or II IN English
money is the standard value. Ten sucres arr
equal I" one gold condor. Thr banks arr per
mitted To issue a limited amount 81 paper money
for the convenience II commerce. hut il must l.a
redeemabe at the option II The holder in gold
I;ESoURC To BE DEVELOPED
10 ~ next To- Impossible To- ct at the popull-
I'm "f Ecuador. hut even including the un-
civilized Indians 4 Is doubtful if the number
of inhabitants can i'- re, koncd al more than
l.,aIi'Hs' Win srch small population fer
tale Land EiNishe its treasures in vain From
th' coast L. thu interior the virgin forests hold
~ store immense riches awaiting development
Thr republic has gold silver and copper in large
'ieIosits. well large haciendas and stock
raising farms. while IL IS said that II produces
fully half Of the cacao of the world Cac.so is
ia berry from, which chocolate is made Al
ialfa. corn, harley, wheat and other grains are
raised in the valleys ana the slopes of the
Andes. and all sorts If vegetables and fruits
that arr 10 he found IN any temperate climate
rnc-third Of tn cacao crop Is sent To France.
belgium. Germany. England. Italy. Austria and
Turkey. III" United States and other countries
f'ceiVin- Tire remainder Rubber of which there
- an ahunfance, is shipped largely 10 the United
States. Coffee which is raised i'm considerable
quantities on the mountain scopes i'm the interior
is absorbed 10y Chilli and Peru. Othcr products
include tho cinchona, which is sent t. Great
lritain, hides ana leather which go to the
United States. and vegetable ivory. which is
taken 10y Germany. The most important of
H4anufactured exports is Panama hats 50