“In the contract with the Banco de Costa Rica, it was agreed that
the Government should coin gold periodically. There are already
600,000 ‘colones de oro’ in pieces of 10 colones in Costa Rica, and
the Government ordered furthermore a second emission of 400,000
colones in pieces of 20 colones each, which will soon be issued. It
is further willing to coin half a million more in the near future.
The Costa Rican Bank, on the other hand, is obliged to retire a
corresponding amount of its notes from circulation, and later, as
soon as sufficient gold can be put in circulation, the exchange of
bills is to be made by this bank in gold instead of silver.”
There are sufficient reasons for believing that the Costa Rican
Government will succeed in the realization of this highly important
economic change without difficulty. As the Costa Rican Bank no
longer has the exclusive privilege of issuing paper money, new banks
must be established, with authority to issue circulating notes. As
these banks will have to keep a reserve of national gold coins for
the redemption of their paper money, there will be an abundance of
currency of a fixed value. As the fineness of the ‘colon de oro’
constitutes the best type of international exchange, there will
in the future be slight fluctuations, and this will prove a most
valuable guaranty of the stability of public wealth.
The value of the _National Government property_ is estimated at
8,522,714.94 pesos. The principal items are:
Pesos.
National distillery 900,000
Central custom-house 500,000
National theatre 905,815
Metal-building 286,432
National park 250,000
Insane Asylum 405,000
Pacific Railway 847,500
National Palace 200,000
Girls’ High School 350,000
Islands of San Lucas and Chira 400,865
Island of Uvita 200,000
Presidential Palace 150,000
Artillery armory 175,000
National printing establishment 140,000
National College in Alajuela 150,000
National Museum 40,000
Park of Morazán 159,185
Liceo of Costa Rica 145,000
Main armory 100,000
Old temple of La Merced 100,000
Ex-University 80,000
House in San José 100,000
Place in front of the National distillery 94,172
Custom-house in Puntarenas 100,000
Pier in Puntarenas 75,000
Public-domain text, read in full here on John Shaqi.
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