Stability of government will come, I believe, very soon. The Spanish-American character is developing. The prosperity of Mexico and railway connections with that country will have a far greater influence in bringing about that result than any one other condition. The peace conference held at Washington in 1907, composed of prominent representatives of all the Central American republics, was a notable event, and will have a far-reaching effect in bringing about permanent peace among those turbulent states. The meetings were characterized by an earnestness of desire and seriousness of intention that were pleasing to one interested in the welfare of those countries. Already many millions of foreign capital, including about eight millions of American gold, are invested in Guatemala, and the aggregate is increasing each year. Tourists and commercial salesmen are going there in greater numbers, and each one comes back enthusiastic over the possibilities of development of that country. Guatemala is the most important of the Central American republics and is the nearest to the United States in geographical situation. It is a short journey for the traveller in search of new and novel sights, and should not be overlooked by the merchant or manufacturer on the lookout for new fields of conquest. The near-west is just as good a field as the far-east and the exertion is less. The land is yet virgin, for the wants of the people have not been developed. The leaven is working, however, and the transition period is near at hand. It began in Mexico and is slowly working its way downward toward Panama. Its progress can be hastened by judicious and studied effort. It is not a thankless or profitless task, for the returns will compensate for the effort expended. ------------------------------------------------------------------------ CHAPTER XI BRITISH HONDURAS IT was with romantic feelings that I sailed along the coast of British Honduras, past the numerous little coral reefs, called cays, and into the beautiful harbour of Belize. For many years these shores were the rendezvous of organized bands of pirates, who practically ruled the Caribbean seas during a good part of the seventeenth century. Each wooded island and cay has its legend of buried treasure, but no one has ever been able to locate a single “caché,” although expeditions in search of this fabled treasure-trove are still organized and as often fail. Each new leader feels that he has discovered the true key to this hidden wealth, and comes to these shores armed with “magnetic needles” or “divining rods,” which will be sure to point out the exact location of the buried gold.