The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-07-12

The Prndo. la
ing collections. The national credit is
also good, and ii has greatly improved
since the contract was made through
w. X. Grace & Co. with Speycrs and
the National city Bank for the build
ing of new railroads. Before that time
il was almost impossible for us To gel
money from Europe. remember that
went To London bout ten years ago
to borrow 81 100000 to build tile rail
road from Lake Titicaca to la PaL.
! could not get any one to listen to
me After the loan was made by the
Speycrs the financial powers of Europe
began To wake up. They decided that
ii the credit of Bolivia was good
enough for the Americans it ought 10
I then We have had no trouble in bor-
rowing. There is to-day 4 great deal
of English. French and German money
invested in Bolivia, and we can get a
loan at any time for any reasonable
amount our public debt is not large
considering our population and our
resources.
What kind Of interes, rates does
>moncy bring here
The rates arc much higher than in
the United States. ordinary loans
yield 10 per cent, and for special loans
II per cent and morel are received.
our money rises and falls, according
TO tho demand and supply. just as il
does anywhere. At present money is
| scarce and high all over the world.
The government Is making some
! changes in its financial arrangements
II has recently given one bank the
exclusive right TO issue notes, and the
rate of interest has bccn raised. We
have a number Of banks in the coun-
/ try and the most OF them are pros
porous
How. about the opportunities for
( tho investment OF American capital"
They arc good, replied Mr.. Zallcs
! Bolivia is At the beginning Of its de
vclopment. and il has vast resources
! in lands, mines ana petroleum. The
most valuable part Of our country lies
east OF the Andes. In that region We
have an area bigger than Texas. con-
sis,inE OF high plains that viii raise
wheat. cc"n and cattle. Those lands
arc between the River Pilcamapo and
the Paraguay. and they extend north
ward into tho plateau OF Matte Crosse.
! The climate is fine and we'll suited IL
, white men. That region Will some day
have a large population As To mines,
Bolivia has produced quantities Of sill
Ncr copper and tin, hut il is still on tho
edge OF its mineral development. We
have petroleum fields that promise To
revolutioniz. the fuel problem in South
America. These are east of the Andes.
They are said 10 he Very rich
"But is capital So invested safe"
asked
Yes. just as safe as IN Europe or
the United states. You people should
realize that conditions in tho great
countries of South America arc far diff
fercn; from those Of Central America
and Mexico. Investments III Chile
upd Ispltyia arc firm
basis as far as the governments are
concerned We have not had rcrolu-
ton in Bolivia for more than thirty
wears. and we are in good financial
condition. Capital is protected. and |
/ venture that a mans life is safer ut
amy hour OF the night here in La Paz
than IN NcW York or Chicago.
How about your new railroads."
"Our railroad era is at its beginning.
Within the past decade the chief
cities have beer connected by iron
tracks. and We arc building extensions
;hat will complete the basis Of the
I system. our railways are now within
( 700 miles Of those Of the Argentine,
and within Il short time we shall have
direct railroad connection with Euenos
Aires Indeed. We can to-day 20 TO
! Ruanos Aires overland within less
than seven days by staging the space
+ between the rcauS.
what we especially want" con-
tiuucd MIR Zallcs, lis railroads 10 open
up Eastern Bolivia. That part Of the
+ country is well fitted for immigration.
/ but II cannot be developed until IL has
t better transportation. The region is
rich beyond conception. II is one Of
I the largest blocks OF good. undevcl-
| oped Land th.t Yet remains to the
world. 1t Is far different from the
| hieh Andean plateau. which is. Ia n
, large extent, mineral proposition.
! Eastern BOLIVIA is agricultural II is
7 like Argentina. Here on tho plateau
cities arc increasing in size, and n
/ STEADY growth Is apparent II YOU look
/ about IN la I'nH Won will find that new
construction work is going on In every
| part OF the city. My. we start a new
( building almost every day. Settle
ncnts ave also srrinciug UP along the
( lines Of the railroads. and even III"
Indians are Increasing their wants
Feli me something. about the In
dams MIR. Zalles, Many of the for
} ctcners nave met say they arc lit
/ ~" more than animals. and that there
( i 10 possibility or improving them"
THAT is Il mistake. The Aymura IN.
! dams. who form the majority Of tho
/ population, are much like the Japanese
J ~ their attitude for new things The
! Otter men and women, whose brains
! nay" becn dcadencd by overwork and
I by alcohol. may he dun and sodden.
III is far different with The young
men. They are bright and quick To
4 learn. YOU VIII sec them working
upon the buildings here IN La I'az.
I Everything rs done ~ Indian labor
J We nave large shoe factory in
+ oruro. Tho shoemakiug machines are
I American. and they are all operated
! BY Indians. W. have Indians who are
/ experts In handling mining machinery.
! some 81 the Aymaras are learning TO
/ read. and can see that q radical i'm :
/ provcment has begun. Th, most OF our
i Indians are landowners Thcy are in :
/ terested ia the country IS owning a
! part o. II. ana. rs they become more
i enlightened. they VIII he fairly good