The Republic of Honduras, situated in Central America between El Salvador, Nicaragua and Guatemala, has an area of 43,277 sq. mi. (112,088 sq. km.) and a population of 6.48 million. Capital: Tegucigalpa. Tourism, agriculture, mining (gold and silver), and logging are the chief industries. Bananas, timber and coffee are exported. ,Honduras, a site of the ancient Mayan empire, was claimed for Spain by Columbus in 1502, during his last voyage to the Americas. The first settlement was made by Cristobal de Olid under orders of Henan Cortes, then in Mexico. The area, regarded as one of the most promising sources of gold and silver in the New World, was a part of the Captaincy General of Guatemala throughout the colonial period. After declaring its independence from Spain in 1821, Honduras fell briefly to the Mexican Empire of Agustin de Iturbide, and then joined the Central American Federation (1823-39). Upon dissolution of the federation, Honduras became an independent republic.,, Monetary System:,,, ,1 Peso = 100 Centavos, 1871-1926,, ,1 Lempira = 100 Centavos, 1926-,,