Yucatán. 1859: The British-Guatemala Treaty was signed, defining the border with Belize. The British Honduras Company (BH Co, later Belize Estate Produce Company-BEC) was formed. 1862: The Settlement of Belize in the Bay of Honduras was formally declared a British Colony (it had been subject to British law since 1840) and named British Honduras. The Crown’s representative was elevated to the rank of Lieutenant-Governor, subordinate to the Governor of Jamaica. 1871: British Honduras was declared a Crown Colony after the Legislative Assembly dissolved itself in 1870 and requested the establishment of direct British rule in return for greater security. A new Constitution was inaugurated and the Legislative Assembly was renamed the Legislative Council. 1893: Mexico renounced its long-standing claim to Belizean territory north of the Sibun river. 1933: Guatemala re-asserted its claim to the region on the basis that the conditions of the 1859 British-Guatemala Treaty had not been met by the United Kingdom. 1934: Antonio Soberanis Gómez led protests by the Labourers and Unemployed Association, demanding emergency relief and a minimum wage from the Government. 31 December 1949: In defiance of the wishes of the Legislative Council, the Governor significantly devalued the territory’s currency, the British Honduras dollar. 1950: The anti-British, pro-independence People’s United Party (PUP) was established under the leadership of George Price, as a direct consequence of the currency devaluation. 28 April 1954: Following the establishment of a new Constitution granting universal adult suffrage, a general election was won by the PUP, which secured 66.3% of the vote and obtained eight of the nine elected seats in the new Legislative Assembly. 21 March 1957: The PUP won all nine seats at a general election. 1 March 1961: Under a ministerial system of government established by a new Constitution, Price was appointed First Minister after the PUP won all 18 seats in an enlarged legislature, restyled the House of Representatives. 1 January 1964: British Honduras was granted internal self-government; the United Kingdom retained responsibility for defence, external affairs and internal security. 1 March 1965: Following an election in which the PUP claimed 16 of the 18 seats in the House of Representatives, Price was appointed Premier of British Honduras. May 1968: All parties in British Honduras rejected the ‘Webster Proposals’—a draft treaty presented by a US Commission mediating the dispute between Guatemala and the United Kingdom-which granted Guatemala as much control over the territory as was exercised by the United Kingdom. 1969: At a general election the PUP extended its representation in the House of Representatives to 17 seats. 1971: British Honduras joined the Caribbean Free Trade Area (CARIFTA). 1 January 1972: The new town of Belmopan replaced Belize City as the capital.