Agricultural experts estimate that only one-third of Colombia is susceptible of cultivation, the eastern part being swampy and the high mountain lands incapable of sustaining any growth, especially at an elevation of 13,000 feet. The belt of coast lands with the plateau regions can be made highly productive.
Coffee is perhaps the largest crop grown, in 1913 the output being nearly 55,993 tons valued at $16,777,908, practically all of which came from the Cauca Valley, and nearly all taken by the United States.
Some cotton is grown, of a particularly long fibre, and this industry could be easily developed into a larger one.
Due to the work of the United Fruit Company of Boston, which maintains banana plantations near Santa Marta and Cartagena, the growing of this staple fruit is enlarging into a great business, owing to the fact that the soil and climatic conditions are ideal for its propagation. In 1913, $1,996,999 worth of this fruit alone was shipped.
Rubber to the extent of $736,427, tobacco valued at $442,461, most of which went to Germany, ivory or tagua nuts worth $754,708 and Panama hats to the extent of $1,174,641 were shipped in 1913. These industries are susceptible of a greater increase.
The cattle-raising business could be materially developed in some sections of the country which now grazes about 3,000,000 head. The breeding of goats could be done profitably. Hides to the value of $2,661,721 were exported last year, the United States taking by far the greater portion. Some 30,000 alligator skins are sent annually to the leather markets of Europe and America.
Excellent hard, cabinet and dye woods are to be found toward the interior, but the poor transportation facilities retard the development of trade in this field.
Colombia’s chief wealth is in her mines. There is much gold, also iron, silver, lead, copper and coal. In the production of platinum this country ranks next to Russia. Petroleum is found and the petroleum industry is rapidly assuming large proportions. Practically all the emeralds of the world to-day come from Colombia, this precious stone being worth more per carat than diamonds. The government controls the exploitation of emerald mines, leasing them to operators. The chief groups of mines are the Muzo, the Coscuez, the Chivor and the Cuincha, the first named having a yearly output of 262,548 carats of the first water, 467,690 of the second, 22,700 of the third and 17,800 of the fourth class. The Chivor group, it is estimated, is capable of producing $500,000 worth of these stones per year.
Gold to the value of $6,634,914 was exported in 1913. Its production increases annually. About $1,000,000 worth of silver and $600,000 worth of platinum were shipped abroad in 1913.
Colombia is presumably on a gold standard, having as its unit of value a peso or dollar equal in value to the American one. As a matter of fact, however, the currency in circulation is an inconvertible paper dollar, which fluctuates in value according to the stability of the government. I have seen it take three hundred of these dollars to equal one of ours. Now a paper dollar is worth about one cent gold. Business transactions are usually done in United States dollars or English pounds.