870
PERU
possesses a school of mines and civil engineering, created in 1874, Avith good collections and laboratories. There are in the capital and in some of the principal towns private high schools under the direction of English, German, and Italian staffs. Lima has also a public library, besides the one of the university and school of mines. There are two minor universities at CUZ90 and Arequipa.
Finance.
The public revenue is mainly derived from customs. A direct tax is levied, at the rate of 3 per cent., on the rent derived from real property. In 1896 the collection of the dues on alcohol, opium, tobacco, and stamps was farmed out for two years to a company, which should pay to the Government 126,734 soles per month and half the profits over that amount ; this contract has been renewed for five years, during which the Government will receive 75 per cent, of the profits instead of half. In the same year salt was declared to be a Government monopoly, the proceeds from which shall be devoted exclusively to the ransom of Tacna and Arica.
The revenue and expenditure for the year 1896 (ended May 31), and the estimates for 1897 and 1898 were as follows in soles (10 soles == 11.).
1S96
1S97 1898
Revenue Expenditure .
Soles 9,826,196 9,064,255
Soles 10,721,520 11,308,240
Soles 10,785,850 11,488,240
Theoflficial statement for 1896 showed an apparent surplus of 751,941 soles, but there was in reality a deficit of 876,588 soles arising from former deficits and from extraordinary expenditure for the suppression of insurrection. To meet this deficiency and those anticipated for 1897 and for 1898, the Govern- ment has been authorised to raise a sum not exceeding 1,500,000 soles, and it is proposed to arrange with the Tax Collection Company for the service and redemption of this loan.
For 1898 the revenue and expenditure were estimated as follows : —
Sources of Revenue
Branches of Expenditure
Customs .
Taxes
Salt Mono])()ly
Posts and Telegraphs
Various .
Total
Soles I 6,320,000 Congi-ess. 2,167,410 Ministry of Interior
1,130,440 272,000 896,000
10,785,850
Foreign Affairs Justice Finance . War, Marine Public Works ,
Total
Soles
364,370
2,656,200
644,760
1,265,450
3,086,000
, 3,214,320
257,140
11,488,240
