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is centred on its two yriiil rivers, the Paraguay carrying the larger part of it. In lllOl 2157 sle.inii'rs and .sailing vessels entered and cleared at the port of Asuncion. Some of the largest and finest river steamers in the world ply be- tween that i)ort and Buenos Ayres. A railroad is in operation between Asuncion and Pirapo, 15G miles.

GovERXMEXT. The present Constitution was adoi)ted l)» a jjopularly elected convention of (iO delegates which met at Asuncion on August 15. 1870. The government is that of a centralized republic. The legislative power is vested in a Congress consisting of a Senate and a Chamber of Deputies. Both Senators and Deputies are elected by universal suffrage in the proportion of one Senator for each 12.000 inhabitants, and one Deputy for each 6000. The Senators are cho.sen for a term of si.x years, one-third retir- ing every second year. The Deputies serve for four years, one-half of the membership of the chamber retiring bienniall.v. The executive pow- er is vested in a President chosen for a term of four .vears by an electoral college verv similar to the method followed in the United States. He is eligible to reelection onl.v after an interval of eight consecutive years. He is aided in the exercise of his functions by a Cabinet of five ministers who are responsible to the Legislature. In case of death or inabilit,v of the President he is succeeded by a Vice-President, who is ex- o/ficio President of the Senate. The judicial power is vested in a Supreme Court consisting of two associate Justices and one chief justice; five inferior courts; and a series of magistrates' courts, of which there is one in each town of im- portance. The Supreme Court is a tribunal of last resort and ])Ossesses the right to pass upon the constitutionality of acts of Congress. The justices are appointed by the President with the consent of the Senate for a term of four years. The powers of the executive and of Con- gress, the guarantees in behalf of civil libert.v, the provision for amending the Constitution, etc.. are quite similar to those in the Constitution of the United States. For purposes of local govern- ment Paraguay is divided into .S.3 circumscrip- tions called 'departments.' which are in turn subdivided into cantons. The capital is Asuncion (q.v.).

Finance. The revenue is almost wholly ob- tained from customs dues. Stamp duties, pat- ents, harbor duties, postal charges, and the like are so moderate that the.v are no appreciable burden upon the people. The revenues and ex- penditures are small when compared with those of most other countries. The figures for four years arc as follows, the value being expressed in jiaper dollars, which are worth only about one-tenth of the gold dollar:

Rerenup Expenditure.... $1,200,009 6,852,334 -98 $8,977,299 [$9,806,000 8,441 275 I 8.122.139 -01 $11,412,747 Paraguay incurred a large foreign debt chief- ly on account of prolonged civil wars. As a re- sult nf the country's failure at times to meet its obligations, it has been necessary to make arrangements for scaling the debt and reducing the interest. The debt in 1874 amounted to •$7,527,000 (gold), but it was agreed in 1885 that in exchange for this debt new bonds to the amount of $4,250,000 should be issued. An ar- rangement was also made for the future payment of interest, and laud was assigned to creditors in payment of arrears of interest up to July, lS8ti. The holders of these unpaid interest cou- pons received land warrants, and the Paraguay Land Compan.v, later known as the Anglo-Para- gua,van Land Company, was formed to deal with these warrants. Another arrangement was made with the bondholders in 1895 for the reduction of interest, refunding of interest coupons in ar- rears, the creation of a sinking fund, and the assignment of securities. The outstanding debt in 1002 was $4,688,750 (gold), and the guar- antee debt which the Government owed to the Paraguayan Central Railroad amounted to .$.5,- 130,305. There are five banks: the Agricultural Bank, with a capital of 3,025,723 pesos (for value see below), the Territorial Bank, the Mercantile Bank, the Bank of Los Rios, and the Caja de Credito Commercial. Paper inone.v is chiefly in circulation, the amount on December 31, 1901, being 10,566,171 pesos. The nominal value of the peso is $1, but as compared with the paper peso gold is at a pre- mium of about 1000 per cent. The legal value of the gold peso is one American gold dollar. The silver peso varies in value according to the gold price of silver. The metrical .system of weights and measures has nominally been obligatory since 1886, but practicall.v the old Spanish weights and measures have remained in use. The Paraguayan standing army has 1500 men. Population. The census of 189!l sliowed a population of about 630,000, of whom nearl.v 100,000 were Indians. The foreign population in 1895 numbered 5000 Argentines. 2500 Italians, 1500 Spaniards, 12.50 Germans, 800 French, 600 Braziliiins, and 1000 Swiss, Austrians, English, and other nationalities. The Paragua.vans are a hospitable, well-meaning people, whose prosperity was long retarded by terrible misrule, but whose position is improving under the present favor- able conditions of government. EDrc.Tiox AND Religion. The schools are supported by the State, but though education is nominally compulsory, only about one-fifth of the adult Paragua.vans can read and write. In 1897 there were 390 public and private elementary schools, with 25,000 pupils and 700 teachers. A number of Protestant schools are maintained and private schools are partly supported out of the public funds. An agricultural school near Asun- cion, with a model farm, is having a favorable influence upon farming. The national college, with 15 professors and 205 students, is situated at Asuncion. This city has a public library and five newspapers. The Roman Catholic is the State religion, but everyone is protected in the exercise of his own religion. Immigration. The Government encnuragea immigration, yet. owing to the troubled history of the country until quite recentl.v and the nearer opportunities presented by Argentina, the incomers from foreign countries have been com- paratively few. In 1897 there were seven agri- cultural colonies, embracing 2 148 inhabitants, Italians, Germans, French. Spaniards, Swiss, and English. They cultivated 10.000 acres and possessed 235,246" fruit trees. 62.620 coffee plants, 1444 horses, and 14,615 cattle. A con-