TEGUCIGALPA, CAPITAL OF HONDURAS.
"Negotiations are now going on for wiping out the debt by issuing new bonds for a part of it, and creating a new loan by which the Interoceanic Railway can be completed and other railways constructed. The President of Honduras, General Bogran, is a man of great enterprise, and has done much for the country since he took possession of his office. His predecessor had built a fine boulevard from the capital part way to the Pacific coast, but from that point there was only a mule-track, the same that had been there for three hundred years. General Bogran made a contract with some American engineers to build a wagon-road from the coast to the end of this boulevard, and another from the capital, Tegucigalpa, to Yuscaran, the centre of the principal mining district."
STREET IN YUSCARAN.
"Please tell us about the mines of Honduras," said Frank, as Mr. Wilson paused for a moment.
"Certainly, I'll do so with great pleasure," was the reply. "Honduras was the first part of the main-land of North America visited by Columbus and his companions, and as soon as Cortez had completed the conquest of Mexico and established himself firmly on its soil he proceeded to the subjugation of Honduras. From the time of the Conquest down to 1820 the mines of Honduras yielded enormously of gold and silver; the Government took as its share twenty per cent. of the gross product, and whenever a district proved to be unusually rich the King acknowledged the good-fortune by 'decorating' the place. This was a much more economical proceeding than reducing the taxes or granting a sum in money for public improvements.
"Perhaps you don't understand me," said Mr. Wilson, as he observed a puzzled expression on the faces of the youths. "When I was at Tegucigalpa I examined some old documents in the Government library, and came upon one containing the following paragraph:
"'The flourishing state of the mining interests and the large returns they brought the Crown influenced the King, so that on the 17th day of July, 1768, there was given to the pueblos (villages) of San Miguel, Tegucigalpa, and Heredia the honorable title of villas (cities).'
"A decree of that sort is exactly like conferring a decoration on an individual," continued the gentleman. "It costs nothing to the giver, and makes the recipient proud of his distinction, at least that is supposed to be the purpose of a decoration.