982 GUATEMALA
Puerto Barrios to Guatemala City, a distance of 194 5 miles, theuce to San Jose de Guatemala, on the Pacific Ocean, a distance of 74 miles. The company receives subsidies from the Governments of Guatemala and Salvador. The Salvador division of 40 miles is operated separately. The Government of Guatemala may purchase the lines after the year 2002 at a price to be decided by arbitration. The lines located in Salvador may be purchased after June, 1978, by the Government of that country at an arbitrated price. After the year 2006 Salvador will receive the lines without indemnity. In 1914 the International Railways of Central America acquired by purchase a 60-mile railroad extending from Santa Maria, on the main line between Guatemala City and San Jose de Guatemala, to Las Cruces. The same year it built an extension from Las Cruces to Ayutla, a distance of 45 miles. Ayutla is on the border of Mexico ; Mariscal, in Mexico, being on the other side of the river Suchiate, which forms the boundary between the two countiies. Although the road was constructed in 1914, through freight and passenger traffic between Guatemala City and Ayutla was not inaugurated until October 1, 1916. The International Railways of Central America has also projected a line to run south-east from Santa Maria to Santa Ana in Salvador. It is stated that when this and other lines in Central America, projected or under construction, are completed, a direct through route will be afforded between Vera Cruz, Mexico, and Panama and Colon, extending along the western portion of Cenlral America through the five Republics of Guatemala, Salvador, Honduras, Nicaragua, and Costa Rica,
There are a few good roads, and many bridges have been recently built, but away from the railwaymost of the traffic is on mule-back. In November, 1916, a concession was granted to a company for the construction of an intra-coastal canal, to be known as the Chiquimulilla Canal, skirting the Pacific Coast of Guatemala and extending 80 miles from San Jose to the Esclaves River.
There were in 1917, 423 post-offices, through which passed 17,285. S44 letters, &c. In 1920 the national telegraph lines had a length of 4,512 miles, and the telephones 416 miles. There were 262 telegraph and 252 telephone offices. Number of telegrams sent in 1920, 1,523,512.
Money, Weights, and Measures.
On April 11, 1918, the National Assembly established a National Bank (Banco National Privilegiado), with headquarters in the City of Guatemala. The principal functions of this bank is the making of agricultural loans, aiding in the reconstruction of the national capital and of other towns damaged by earthquakes, and co-operating in the settlement of economic questions. The funds of the bank are to consist of money subscribed by the Government and the proceeds of the sale of shares to national and foreign capitalists who may desire to participate in the enterprise. The President of the Republic is authorised to negotiate and conclude such financial arrangements, either at home or abroad, as lie may deem noeessary or expedient in establishing and operating the bank.
Important private Banks are: — (1) The Hank of Guatemala (1895), capital, 10,000,000 pesos; paid up capital, 2,500,000 pesos; reserve, 4,812,512 pesos. (2) The International Batik of Guatemala (1877), sub- scribed capital, 2,000,000 pesos ; reserve fund, 1,651,000 pesos. (3) The American Bank (1895), paid -up capital, 3,000,000 pesos ; reserve fund, 1,200,000 pesos. (4) The Western Bank (Banco de Occidante) of Quezal- tenango (1881), capital, 2,000,000 (Moot) paid-up capital, 1,650,000 pesos ; reserve fund, 3,300,000 pesos. On December 31, 1916, there were in circu- lation 183,000,000 pesos iu paper money issued by the banks.
