The acknowledged public debt of the country is comparatively small. At the close of the war with Chile there was an indemnity debt due to citizens of that republic of 6,550,830 bolivianos, which had been nearly liquidated in 1904 when Chile took over the unpaid balance. This was Bolivia's only foreign debt. In 1905 her internal debt, including 1,998,500 bolivianos of treasury bills, amounted to 6,243,270 bolivianos (L546,286). The government in 1903 authorized the issue of treasury notes for the department of Beni and the National Territory to the amount of one million bolivianos (L87,500), for the redemption of which 10% of the customs receipts of the two districts is set apart. The paper currency of the republic consists of bank-notes issued by four private banks, and is therefore no part of the public debt. The amount in circulation on the 30th of June 1903 was officially estimated at 9,144,254 bolivianos (L800,122), issued on a par with silver. The coinage of the country is of silver, nickel and copper. The silver coins are of the denominations of 1 boliviano, or 100 centavos, 50, 20, 10 and 5 centavos, and the issue of these coins from the Potosi mint is said to be about 1,500,000 bolivianos a year. The silver mining companies are required by law to send to the mint 20% of their product. The silver boliviano, however, is rarely seen in circulation because of the cheaper paper currency. To check the exportation of silver coin, the fractional denominations have been slightly debased. The nickel coins are of 5 and 10 centavos, and the copper 1 and 2 centavos. The departmental revenues, which are derived from excise and land taxes, mining grants, tithes, inheritance taxes, tolls, stamp taxes, subsidies from the national treasury and other small taxes, were estimated at 2,296,172 bolivianos in 1903, and the expenditures at 2,295,791 bolivianos. The expenditures were chiefly for justice, police, public works, public instruction and the Church. The municipal revenues aggregated 2,317,670 bolivianos in 1902, and the expenditures 61,510 bolivianos in excess of that sum. These revenues are derived from a lighting tax, leases and ground rents, cemetery fees, consumption and market taxes, licences, tolls, taxes on hides and skins, personal and various minor taxes. There is a multiplication of taxes in trade which recalls the old colonial _alcabala_ tax, and it serves to restrict commerce and augment the cost of goods in much the same way, if not to the same degree.