not sufficient to supply the local demand. The bulk of the flour consumed is imported from the United States. Almost ioo,ooo square miles of Venezuela consist of excellent grazing lands. This fact, together with the favorable climate has, especially within recent years, made Venezuela one of the largest South American producers of cattle. This industry offers a good opportunity for the profitable investment of United States capital. The delta territory and the lands in the vicinity of the great Orinoco river are inviting colonizers to invest largely in the establishment of cattle ranches. I believe that the best business enterprises in Venezuela to-day are the cattle ranches and the dairy farms. They pay far better even than gold mines. The enthusiasm awakened in Venezuela for the development of its agricultural and cattle industries is due to the initiative of private parties. Agricultural societies have been founded in many parts of the country. At the suggestion of the Club Agricola of Caracas, there met this year the first Congress of Farmers of Venezuela. Our Government, ever attentive to the invitation of the United States, has on four different occasions sent delegates to the International Agricultural Congress, or the Farmers' Congress of the United States. General Andrade, the President of Venezuela, himself a farmer and cattle breeder, has created a Department of Agriculture, and has ordered the establishment of agricultural schools and experiment stations. If at any time yoU should want any information concerning Venezuela or any of the other Latin—American Republics, you can obtain such information by addressing the Bureau of the American Republics at Washington. It publishes hand books and directories of those countries, and also a monthly bulletin printed in English, French, Spanish, and Portuguese. If any of you have an opportunity to visit the Commercial Museum in Philadelphia, you will find there an extensive and interesting ex hibit of many of the products of Venezuela.