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The Peruvian Government and the Nitrate Trade, 1873–1879

Published online by Cambridge University Press:  05 February 2009

Robert G. Greenhill  and
Rory M. Miller
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Extract

The 1870s were a decade of crisis and change in the Peruvian economy. Guano, the bulk of Peru's exports, no longer dominated the republic's trade and finance as it had for thirty years. Quantity, quality and markets persistently declined from the peaks of the 1850s and 1860s. Two new growth sectors, however, increasingly diversified Peru's commercial pattern. On plantations in the north sugar production quadrupled between 1873 and 1876, overhauling cotton and wool among exports. At the same time, in the southernmost province of Tarapacá nitrate extraction and manufacture steadily increased.

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Articles
Information
Journal of Latin American Studies , Volume 5 , Issue 1 , May 1973 , pp. 107 - 131
Copyright
Copyright © Cambridge University Press 1973

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References

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70 Valparaiso to London, 16 Aug. 1877, Gibbs MS 11,471/3. In the April–June 1877 trimeStre Gibbs shipped 42,106 tons sold at £14 6s. 8d. per ton. The following deductions applied: (i) Advances from which producers were paid and 2 per cent interest thereon, £313,000, interest on nitrate certificates, £90,000 and commission at, ½ percent, £450, represented £9 11s. 6d. per ton. (ii) Working costs, freightage, loss of weight, insurance, loading and storage, amounted to £3 11s. 3d. (iii) Discounts and commissions were 13s. 7d. per ton. These three items totalled £14 6s. 4d. per ton, leaving a surplus of 4d.

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77 London to Valparaiso, 16 Nov. 1877, Gibbs MS 11,471/5.

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