The Republic of Chile, a ribbon-like country on the Pacific coast of southern South America, has an area of 292,258 sq. mi. (756,945 sq. km.) and a population of 15.21 million. Capital: Santiago. Historically, the economic base of Chile has been the rich mineral deposits of its northern provinces. Copper, of which Chile has about 25 percent of the world?s reserves, has accounted for more than 75 per cent of Chile?s export earnings in recent years. Other important exports are iron ore, iodine, fruit and nitrate of soda. ,Diego do Almargo was the first Spaniard to attempt to wrest Chile from the Incas and Araucanian tribes, 1536. He failed, and was followed by Pedro de Valdivia, a favorite of Pizarro, who founded Santiago in 1541. When the Napoleonic Wars involved Spain, leaving the constituent parts of the Spanish Empire to their own devices, Chilean patriots formed a national government and proclaimed the country?s independence, Sept. 18, 1810. Independence, however, was not secured until Feb. 12, 1818, after a bitter struggle led by Generals Bernardo O?Higgins and Jose de San Martin.,, ,In 1925, the constitution was ratified to strengthen the Executive branch at the expense of the Legislature.,, Monetary System:,,, ,1 Peso = 100 Centavos,, ,1 Condor = 10 Pesos to 1960,,