=Manufacturing= is fostered by high duties on many goods; further by concessions such as exemption from taxes, land grants, or money, to persons establishing factories. In return the goods must be sold lower than those imported. Some large business firms finance other enterprises such as coffee and factories. Of manufactures textiles are the most important. In Barranquilla there are 200 British electric looms run by boys and women; British yarns are imported and worked up into domestics and drills; there are other factories at Bogotá, Cartagena, Medellín, and two for fine woolen cloth at Bogotá. Some cotton spinning is done; two new spinning mills in Barranquilla each have 2500 spindles. In cottages are many looms for the spinning of wool, in which the Indians are very proficient. In one place or another are factories of almost every kind: silk, flour, chocolate, matches, shoes, tanneries, ice, mineral waters, breweries, tiles, iron and steel, glass, candles, soap, etc. Bogotá has the largest number of factories, about 40, Medellín the next; others are well scattered over the country. Few do much more than supply local wants, partly on account of the difficulties of transportation. =Export.= The only manufactured product important in export is _Panamá hats_. The principal centers of the industry are Antioquia, Nariño, Huila, and Santander Sur. The hats are made of _toquilla_ palm, the young leaves of which are cut off, split into thin strips by a small wooden knife, spread out in the sun to dry, and then woven. The hats are not made under water, but the straw must be kept very damp to avoid breaks and splits; so weavers sometimes go into damp caves. Near Pasto, Nariño, hats are made almost equal in fineness to those of Montecristi, Ecuador. The industry has a bright future unless Japan by cheaper labor drives the South American product from the market. To prevent this the export of raw straw may be forbidden. INVESTMENTS Colombia obviously offers a wide and varied field for investments, but like the other South American Republics, on account of low wages, it presents no opportunities favorable to ordinary laborers unless in agriculture. An immigrant may receive a free grant of land of 6175 acres, which he must within ten years cultivate over one third of the area; or if cattle lands, two thirds must be occupied. Various forms of agriculture may be attractive to persons of moderate capital: sugar cane, bananas, coffee, cacao, cotton, fruits, etc., as also agave or other fibre material. Tagua groves in _baldíos_ may be exploited. Discoverers of mines in _baldíos_, Government lands, have a preferential right to 1250 acres of land adjoining the mines denounced. The abundance of water power is of great value to investors of every kind, being equally important for mining, factories, and agriculture.