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remain permanently. These permits shall not be granted for plots over eight hectares in extent.

Lands held by savage, or half-savage indigenous tribes Art. 79. are not subject to adjudication. The Executive is

empowered to determine under his law the precise boundaries of these territorial reservations, and to restrict such boundaries from time to time, as circumstances may require.

The following are not subject to adjudication: Mines, Art. 80. and metal and mineral deposits; salt deposits and min

eral water springs; water that may serve for the public use of townships ; waters of rivers and maritime waters navigable even by small crafts; lands that the Executive shall designate for future ports, or for enlargement of existing ones; area of townships, and space for their expansion. In the first two cases, adjudication shall be made in conformity with special laws which have been provided.

Relates to foregoing article in detail. One point made Arts. 81 to 87 is that those who are using public lands for 'raising

cattle will have two years' time to prove up their claims in adjudication under the new law. Arts. 88 to 100. Relates to the method of procedure before the courts

in case of lawsuit, or opposition.

The provisional rights over waste lands are neither · Arts. 101. transferrable, or subject to embargo. Only in cases

of death of the holder shall they pass to his heirs, to whom the term of one year shall be granted in which to declare whether they desire to make use of such rights, accepting the obligations which they entail, etc. Art. 105. Relates in detail what is considered land under cultiva

tion when proving up the final title.

Prescribes that permanent occupation of land by cattle Art. 106. and horses gives right to the use of such land at the

rate of one hectare per head.

Gives right to fence such land if the number of cattle Art. 107. is in proportion to the amount of land enclosed. If

such number of cattle are not kept up in proportion, the user is under obligation of opening it up for common use. Art. 110. The industry of raising animals does not convey the right

of acquisition. Arts. Pll Deals in the ejectment of unauthorized persons on waste to 117. lands.

Under the law, mines are divided into three Mining Laws.

classes, follows:-(1) Sediment mines, such as iron and copper. (2) Lode, or

vein mines, those of precious stones, silver and gold. (3) Alluvial mines formed of alluvial beds of precious

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stones and metals washed down by rivers. A person desirous of securing possession of a mining property in Panama must first notify the municipal head of the district in which the mine is located, stating the exact locality as near as possible, giving the established name, if it has one, and placing a permanent mark at the place. The notification will then be duly recorded, and as soon as the Act has been legally authorized, the party denouncing will be furnished with a copy. The dimensions of each claim shall be a rectangle 600 meters (about 1,968 feet) long by 240 meters (about 787 feet) wide. The claimant to a vein mine, whether a new or abandoned property at his election, will have the right of an extension up to three continuous claims, without prejudicing the rights of those adjacent. The dimensions of an alluvium mine shall be a square with a base of three kilometers, or a rectangle having two kilometers of base by five kilometers on the sides. The dimension of sediment mines and those found in beds, shall be a square of two kilometers of base. Two points determining the line which is to serve as the base for the survey of the claiin, or claims to be conveyed, should be designated with utmost clearness in all instruments of denouncements, and another point, to indicate towards which side of the line, the measurement should be continued. The four cardinal points may be used for the latter. The survey of the claim to be conveyed shall be made on the surface of the ground, rather than calculating on the horizontal plane. When the party denouncing has definitely fixed the base which is to be used for surveying the mine, he cannot change his determination even though the proceedings should be annulled and repeated, unless there shouldl be some interested party whom it might prejudice, or unless all the parties interested should expressly agree upon the change. The claim should be permanently marked by means of four monuments placed at the four angles of the figure. The restorer of abandoned mines subrogates the original owner of such mines, and he bas a right to the same number of claims as was conveyed to the original discoverer. When the instrument of denouncement has been executed, the Executive Authority shall order that possession of the mine be given. The head of the municipality will then, upon petition of the party denouncing, commission the Inspector of Police to convey possession. Should the party denouncing fail to claim possession within 60 days after publication of the notification, without good cause, he will forfeit his rights to the mine, and it shall be declared abandoned. The cost of the formality of giving possession shall be borne by the party concerned. No mine may be denounced as a deserted or abandoned mine under any other name than that which it carried at the time of abandonment, providing it was kuown by that name. Violation of this provision will forfeit the right to denounce the mine for a period of four years. The period of time to acquire title to a mine is summed up in the following :-(1) For denouncing, 90 days after notification has been given. (2) For delivering the instrument which the party concerned should receive ordering the conveyance of possession, the time of the distance, and 20 days more. (5) Time that notice announcing conveyance shall remain posted is 21 days. (4) Time allowed to petition for possession is 60 days after removal of the notice. (5) The possession of a mine having been petitioned for, a decree shall be issued within the following 24 hours ordering that possession be conveyed within a period which shall not be before five days, nor more than 40 days from the date of the said decree. (6) The petition asking that title be given shall be made within the 60 days following the conveyance of possession.

All the proceedings relating to mines must be in Spanish, on stamped paper of the first class, with the exception of powers of attorney which are given to petition for and receive possession, or for any other writs relating to these matters, and the title of ownership of the mine. These latter documents may be made on stamped paper

of the third class. The copy of notification accompanying the instrument of denouncement shall be made on common paper.

The taxes on mines according to Law 88 of 1904 are for each mine denounced, $10 Panaina currency ; to obtain the right of proprietorship title, $25 Panama currency. The annual taxes are: On mines of precious stoncs, $10 Panama currency per square kilometer, and in proportion according to length of mines. On alluvial mines, $10 Panama currency for each 25 kilometers. Portions not exceeding five kilometers will have to pay $2, and proportionately in excess of this measurement up to 25 kilometers. On quartz, or vein mines, $5 Panama currency for each appurtenance 600 meters long by 210 meters wide. The right to a mine is lost when the tax is not paid punctually. The tax can be paid in advance for any number of years desired. Owners to titles on mines not in litigation, can secure permanent ownership, exempt from future taxation, by paying in advance the corresponding taxes for 20 years.

Taxes commence from date of possession.

Panama is one of the few countries in the

civilized world to-day that is without national debt. She started off

off from the jump with a nice little sum in the Government exchequer; has most of it yet, pays her running expenses

expenses with something left over, and has expended quite throughout the republic on public improvements during the past four years. She can look on and smile at the other South American countries which are continually dodging the international collectors. The future looks rosy too, especially when it is considered that it won't be so many years now before Uncle Sam begins paying Panama her annual quarter of a million in cold cash. The Government at the present time has $7,700,000 gold loaned on first class New York mortgages, from which during the year 1907, interest was derived amounting to $294.000.

FINANCES.

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The Government financial statement for the calendar yea 1907 makes a particularly excellent showing. The total revenues from all sources amounted to $2,139,301.68 gold, derived from import duties, and internal imposts, a considerable increase over the previous year. The following table shows the revenue from imports for the years 1906 and 1907:--

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This shows a vet increase of $.472,587.59 over the year 1906. This should be an index of the healthy condition of commerce in the republic, as the item of revenue increase means a proportionally large increase in the value of the imports.

In addition to the above, opium produced a revenue of $3,186 55; native distillation of liquors, $ 25,141.87; head tax on cattle. $127,593.77; tax on exports, principally bananas, $13,083.79: sale of stamped paper, $51,197.44; mining rights, $2,629.65; patents and privileges, $1,795.00; registration fees, $6,078.17; consular fees, $89,518.13; post-office. $63,420.95; telegraphs and telephones, $5,055.22; postal commissions, $8,971.02 ; lottery, $63,000.00 ; steamship companies; $10,875.57; pearl fisheries, $600; national property, $9,718.02; retail liquor licenses, $81,829.50; importation of cattle, $10,811.50; money changers, $5,957.50 ; public market for month of December, 1907, date it was turned over to the city $2.252.02; lighthouses in Colon, $3,530.63; miscellaneous, $62,781.06.

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