PERU

IOI

ooo  worth  of  rubber.  Much  coffee,  tobacco,
and  cocoa  are  grown,  most  of  which  is  used
for  home  consumption.
Peru’s  crops  are  produced  chiefly  by  irrigation, ­
  the  watersheds  on  the  mountain  sides
being  of  great  advantage  in  this  connection.
Cotton  is  manufactured  into  cloth  in  mills
situated  at  Lima,  Arequipa  and  lea.  There
are  also  woolen  mills  but  they  do  not  come
anywhere  near  supplying  the  local  demand
and  much  is  imported.
Panama  hats  are  largely  produced,  in  1911
the  exports  in  this  line  reaching  the  enormous
sum  of  $2,147,668.  Some  twenty-five  factories ­
  in  the  Cuzco  valley  are  devoted  to  the  production ­
  of  cocaine,  the  world’s  supply  largely
coming  from  this  section.  The  cattle  and
wool  growing  industries  are  capable  of  much
greater  development.
Peru  is  on  a  gold  basis,  the  sole  being  the
unit  of  value.  This  is  a  silver  coin  and  is
designated  thus  “$.”  Ten  soles  ($10)  equal  a
gold  Libra  or  pound,  worth  a  pound  sterling
or  $4.8665  U.  S.  gold  and  expressed  thus