Produces sugar-cane, coffee, tobacco, and all tropical grains.
Matto Grosso (between 7° and 24° 30´ South).—Possesses mines of gold, diamond, iron, and copper; timber and medicinal plants as ipecacuanha; breeds cattle.
Produces coffee, tobacco, and all tropical grains.
BRAZILIAN FINANCES.—LAW OF 1860.
The following are the chief leading provisions of this law, which may be called the Banking Law of Brazil:—
1st. To limit the issues of independent banks to the average of the first six months of 1860 during the suspension of cash payments.
2nd. To limit the issues of the Bank of Brazil and its branches to double its unengaged funds, the Government being empowered to grant their issue to be raised to three times the value of the said disengaged funds, but this only in case they do not exceed the average of its issues since its foundation. All this during the suspension of cash payments.
3rd. To abolish small note issues of the independent banks. The Bank of Brazil to withdraw from circulation its small notes if within six months it did not resume cash payments.
4th. To contract the issue of all banks at the rate from 3 to 12 per cent. if within a year they did not resume cash payments.
5th. To subject for the future banks to the Bankruptcy Law, in case of their not paying their notes in gold.