HONDURAS deputies. The finances of the republic are great disorder, nor can any definite state- ments thereof be obtained, inasmuch as the re- ceipts of the custom house are usually farmed out to merchants and other capitalists, whose interest it is not to make regular returns. The revenue, one third of which is derived from imports, is estimated at $400,000 annu- ally. Nothing is known of the home debt; the foreign debt amounted at the end of 1872 to $29,950,540, made up of three loans: the first contracted at the London stock exchange in 1867, for the nominal amount of 1,000,- 000; the second issued at the Paris bourse in 1868, for the nominal amount of 62,252,- 700 francs; and the third negotiated at the London stock exchange in 1870, for the nom- inal amount of 2,500,000. The English loans were at 10 per cent, interest, and issued at the price of 80 ; and the French loan at 6 per cent., issued at the price of 75 ; and all were raised for the purpose of constructing the in- teroceanic railway. In May, 1872, the Hon- duras government issued in London the pros- pectus of a "10 per cent, ship railway loan" of 15,000,000, " for the purpose of adapting the railway now in course of construction to a ship railway across the republic of Honduras," that is, "a railway capable of conveying ships of heavy tonnage, without disturbing the car- go, between the Atlantic and Pacific oceans, to and from Puerto Cortes and Fonseca bay." This loan, which was to be in 150,000 bonds of 100 each, at the price of 80, and to be re- paid in 15 years, met with no subscribers in England. Education is at a low ebb, there be- ing, besides the so-called universities of Coma- yagua and Tegucigalpa, very few schools, and those existing devoted only to the primary branches. Indeed, the children of such as can afford the expense are sent either to Guate- mala or to Europe for their education. Presi- dent Arias, shortly after his accession in 1872, signified a desire that an adequate number of public schools should be established throughout the country. The religion of the people is the Roman Catholic, under the jurisdiction of the bishop of Comayagua. The coast of Honduras was discovered by Columbus in 1502 ; and in 1526 Cortes, at the head of an army which he brought from Mexico, composed of Europeans and Indians, took possession of the country, and founded the towns of Trujillo and Puer- to Caballos (now Puerto Cortes). The whole known portion of Central America was shortly afterward proclaimed to belong to Spain, and placed under the government of the audiencia de los confines, the seat of which was fixed at the present town of Gracias, which from that circumstance rose rapidly in importance. In 1823 Honduras entered into the Central Amer- ican confederation; but it became an inde- pendent republic in 1839, and took part in the wars and intrigues which followed each other in rapid succession till 1862. Civil strife also contributed to retard the material progress of j HONDURAS (BRITISH) 791 the country. In 1861, for instance, many at- tempts were made at insurrection, the princi- pal instigators being the clergy, who preached dissension from the pulpit. Guardiola, who was at that time president of the republic, thwarted all their designs, but granted a uni- versal amnesty, not excluding even the vicar, who was the chief promoter of the discontent'. Guardiola was shortly after assassinated, and Montes succeeded him. One of his first acts was to make a treaty of alliance with San Sal- vador against Guatemala and Nicaragua. His army was defeated at Santa Rosa in Guate- mala, and one of his generals, Medina, joined the victorious army of the enemy, overthrew Montes, and caused himself to be proclaimed president (July, 1863). Medina resigned the government in 1864, but was immediately re- elected; and he continued in the presidency until his deposition in 1872 by Don Celeo Arias, now (1874) provisional president of the republic. A treaty of peace and amity with Spain was signed March 15, 1866. HONDURAS, Bay of, a large triangular body of water, an arm of the Caribbean sea, lying between the republic of Honduras and the pen- insula of Yucatan. It is remarkable for its great depth of water, which some writers sup- pose to have originated the name Honduras (Sp. hondura, depth), subsequently applied to a portion of the mainland. The S. W. portion of the bay, penetrating into the continent, be- tween Guatemala and Honduras, is known as the bay of Amatique. Along the coast of the peninsula of Yucatan the bay is studded with coral keys or cays, which form an almost con- tinuous line, at a distance of 10 to 25 m. from the shore, and act as a kind of natural break- water to the continent. It was in the smooth water behind these keys that the buccaneers, well acquainted with Njthe intricate channels between them, found qrefuge against the at- tacks of the Spanish fleets. Approach to the peninsula is at all times difficult and sometimes dangerous, and many vessels are annually lost in endeavoring to reach the coast of British Honduras. The most dangerous reefs or banks are those of Chinchorro, or the Northern Triangles. On the side of Honduras the bay is open, the water deep, and navigation only impeded by the group of islands known as the Bay islands, which however are high, and easily avoided by mariners. The waters of the bay are generally tranquil, and storms occur only during the prevalence of the northers in the gulf of Mexico, which sometimes sweep over it, but with diminished force. Few of the cyclones of the Antilles reach the bay of Honduras. HONDURAS, British, or Balizc, a British colony occupying the extreme N. E. corner of Central America, and lying between lat. 15 54' and 18 30' N., and Ion. 88 and 90 30' W. It is bounded N. W. and N. by Yucatan, E. by the bay of Honduras, and S. and S. W. by Guate- mala; area, about 13,500 sq. m. ; pop. in 1871,
