ECUADOR iii 
country and established themselves as petty 
merchants. 
Cocoa is largely grown in Ecuador, the bean 
being of a high grade, rich in color and fats. 
Strange to say, practically none of the choco 
late of commerce is made here, the crude dried 
bean only being exported. In 1912 $7,653,505 
of this article alone was exported, chiefly to 
Europe, despite the fact that we, as a nation, 
are the largest users of chocolate. 
Forty million one hundred and forty-three 
thousand four hundred and fifty-two pounds 
of tagua or ivory nuts worth $936,511 were ex 
ported in the same time, most of it going to 
Germany to be made into buttons; one German 
village has fourteen factories elaborating this 
product into the finished article of commerce. 
Panama hats are made by individuals, col 
lected by jobbers, and exported, this trade in 
1912 amounting to $1,372,051. 
More than $1,000,000 worth of rubber was 
exported in 1913, and in the same time coffee 
to the value of $783,787, most of which went 
to Chile.