Evening star., 1921-10-02
EXPERTS FROM U. S.
AID LATIN AMERICA
Peru Is an Example of Those Who Are
Pro6tine by This Country's Expe-
rience in Development.

, service Is now under an American,
while an American financier probably
will go to Peru within the near fu-
reconstructing her entire financial
system and economic policy.
Peru is now In a bad way fnan-
cial1y. just as are her sister republics
Of Latin America. The economic de-
business there at a standstil1. Her
government looks with favor on any
well intended scheme for American
Investment and points to the un-
touched resources as the incentive
Peru offers number of prodects
paily famed, have received compare
lively little development. Her agri-
cultural possibilities are little real
ICED, but with proper irrieation tre-
are possible. Unlike many of her
sister republics, she is not depend
ant on any one product A SUNNI in
the market for one commodity does
not affect materially her production
NJ another and her climate offers
rare medium between the two ex-
tremes.
The members OF the American conf
mission which represented the United
States at the recent celebration or
can sentiment which was very graft
flying. An incident to illustrate this
is recited in connection with the COM
, missions expense account. The ap-
preparation to defray expenses for
the visit was not half used. for the
Peruvian government was real
host. Now the State Department, ac-
customed to deficits rather than to
surplus. is puzzled to know what to
do with several thousand dollars re-
naming.
Interest is shown here in the petro-
1eum law passed recently in Bolivia.
copies of which have reached Wash,
'ngton. This is the first step toward
government regulation of oil re-
sources ever taken by Bolivia and its
terms leave the effect on oil exploit3-
zion there in doubt The law places all
petroleum resources under government
control. no matter who owns the prop
arty on which petroleum is discovered.
This is the first instance known. II is
stated, where this relic of old Roman
law has been applied to petroleum de-
Dosits.
In her new law Bolivia seeks TO
! avoid the difficulties encountered by
| the Mexican government in framing
legislation to guard her natural re-
sources. She is anxious for foreign
development. but at the same time
i iealousiy retains the right of owner
ship 1t is understood there may he
some revisions of the law in case its
| provisions are found oDposed 70 for
eign exploitation and development.
Approximately 100000 acre of land
| may be leased to an individual or cor
! ooration for exploration. under iI'
new law, and approximately 200,0oh
of these acres may be selected for
development. The selection of
| ground must be made within four
years after permission is obtained
! for exploration, and the individual or
corporation must then sign a lease
! for fifty-five years. The government
| -etains IL per cent of all revenues
! resulting from petroleum exploita
lion. which may be paid in cash, rar
! or refined products.
At the expiration of the fifty-fivf
wear lease all equipment and ma
| chinery and means of transportation
revert to the government, but q Pre-
| vision allows for a renewal of I'll
lease if the project is found feasibl'
| = + x
| The handsome gold medal presen;
/ by the Costa Rican minister. Senn
Or. Don Octavio Beeche, commemorat
| ing the Tooth anniversary of the in
dependence of Central America. was
accompanied by an engraved diploma
bearing the Costa Rican coat of arms
and signed by President Acosta and
the minister Of foreign affairs, Alejan-
dro Alvarado Quiros. and containing
a greeting from Costa Rica to the
President of the United States.
| The medal was designed by Il q
| French artist Prudhomme and made
in Paris.