Gold. The gold of the Chocó placers has been widely known since the Spanish Conquest. Four hundred million dollars was taken by the Castilians from shallow waters and easily worked river banks. In recent years a number of companies have been operating. The Pato mines cover 40,000 acres near Zaragoza, population 2700, Antioquia, where a dredge is operated. At the Nechi mines the dredging cost is 9 cents a yard, the return about 75 cents. In Antioquia there are 20 rivers with gold alluvium, but operations are chiefly on the Cauca, Nechi, Pato, and Porce. The bench gravel is very deep and can be worked profitably (except at times by the natives) only with machinery, as is the case generally. Therefore considerable capital is necessary for a successful enterprise. More than 12,000 gold bearing sites are known in Antioquia; many in Nariño, Caldas, El Valle, Tolima and Chocó. The gold production in Colombia since the Conquest is estimated as above $600,000,000 and that of silver as $30,000,000.
Emeralds. The most famous mining industry of the country is emeralds; for nowhere else are they produced in quantity and here are the best. The mines were worked long before the coming of the Spaniards, and the actual labor has been performed by the Indians ever since. The mining has been a Government monopoly. The area is a region of 4000 square miles, but the only mine recently operated is the Muzo, 92 miles northwest of Bogotá. It is now worked by the open system though formerly by tunnel. The workers live on the ground in buildings provided for the men and officers, with police to prevent thieving. Present operations are in almost vertical cliffs rising from 100 to 550 feet above small valleys. The loose soil is not removed by water, as is stated elsewhere; the emeralds are separated from the soil by a dry method; water is used to carry away the detritus and also to wash the residue left by material from rotten veins in order to expose small emerald crystals. The output in normal years approaches 800,000 carats. No attempt should be made to obtain a possible concession without thorough investigation and ample capital. The same may well be said of any mining venture. A concession for emerald mining has been secured by an American company.
Other Industries
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.