Another dispute over boundary, which had long been the cause of friction with Bolivia, was settled during the term of President Rodrigues Alves. This was concerning the Acre tract, which includes some of the richest rubber forests in the world. Brazil secured the land on the payment of $10,000,000, and an agreement to construct a railroad which would give Bolivia an outlet to the Amazon. It was in this territory that some American adventurers sought to set up a little independent kingdom. Several other serious boundary demarkations were likewise determined during his term of office. It was during his administration that the Pan American congress was held in Rio, which was the occasion of the visit of Secretary Root to that country, and which aided much in strengthening the friendly ties between the two countries. The consideration shown the American representative was remarkable. With the exception of a couple of little revolts which were really no more significant than strikes in our own land which sometimes require the assistance of federal troops, the administration of President Rodrigues Alves was marked by peace. He had filled many public positions and retired from office respected by all, and still lives to enjoy his honours. In 1906 Dr. Alfonso Augusto Moreira Penna was elected President, having served as vice-president under the previous administration. He was a native of the state of Minas Geraes, and had served as president (governor, we would say) of that state. President Penna made a tour of the states before his inauguration and endeavoured to familiarize himself with their needs. His administration is too recent to be able to generalize it. All to whom I spoke, however, had only good words to say for President Penna and his aims. He desired to reform the currency by establishing a gold conversion fund. Under plans formulated by him and his advisers the government has made considerable progress along that line, and has gradually been adding to its gold reserve. His career was ended by death on the 14th of June, 1909, having served less than three years of his term, and being in the 62nd year of his age. The duties of government fell upon the vice-president, Dr. Nilo Peçanha, who immediately entered upon the discharge of that office. President Peçanha is a native of the state of Rio de Janeiro, and was a noted lawyer in that state before his elevation to the vice-presidency. Although only thirty-nine years of age when elected to that office he had held numerous offices in his own state, including that of representative, president and national senator from that state. By reason of the constitutional inhibition he was prohibited from being his own successor to the office of president.