“In this way the following conclusion was reached: That the ‘colon de oro’ should contain 700 milligrams of fine gold, in order not to complicate the situation created by the circulating notes of the Bank of Costa Rica, and in order to include an average exchange of 110 per cent. with respect to the pound sterling, and of 115 per cent. with respect to the American gold, as well as to create a relation of 1 to 26 between silver and gold. In consequence of this and for the purpose of giving to the ‘colon de oro’ the same fineness as has been given to the American gold coin, and as has been adopted by the Union Latina, it was established that the ‘colon de oro’ should have 778 milligrams of gold of 900-1000 fineness. Its relation to the gold coins of either nations is as follows:

1 American gold dollarColones2.1495
4 shillings sterling, gold”2.0921
5 francs, gold”2.0737
4 marks, gold”2.0481

“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 distillery900,000
Central custom-house500,000
National theatre905,815
Metal-building286,432
National park250,000
Insane Asylum405,000
Pacific Railway847,500
National Palace200,000
Girls’ High School350,000
Islands of San Lucas and Chira400,865
Island of Uvita200,000
Presidential Palace150,000
Artillery armory175,000
National printing establishment140,000
National College in Alajuela150,000
National Museum40,000
Park of Morazán159,185
Liceo of Costa Rica145,000
Main armory100,000
Old temple of La Merced100,000
Ex-University80,000
House in San José100,000
Place in front of the National distillery94,172
Custom-house in Puntarenas100,000
Pier in Puntarenas75,000
National telegraph389,936
Palace of Justice80,000
Hospital for lepers65,000
Penitentiary60,000
Police Stations50,000
Mint42,000

The private property owners are numerous and the orderly habits of the Costa Ricans are marked. Costa Rica being an essentially agricultural country, the necessity of a mortgage law was apparent to maintain and secure the equities of all. Hence an official registry of titles and mortgages was opened in 1867.

The landed property of the people of Costa Rica is registered in the “Registro Publico” in the following way:

First Inscription.

Pesos.
1870,5,243fincasvalued at3,378,035
1875,26,947””19,090,557
1880,43,281””32,285,339
1885,54,540””39,228,567
1890,65,858””45,152,936
1895,79,651””59,244,326
1896,82,614””62,960,222
1897,85,755””67,711,398