The colony of Falkland Islands and Dependencies, a British colony located in the South Atlantic about 500 miles northeast of Cape Horn, has an area of 4,700 sq. mi. (12,173 sq. km.) and a population of 2,564. East Falkland, West Falkland, South Georgia, and South Sandwich are the largest of the 200 islands. Capital: Port Stanley. Fishing and sheep are the industry. Wool, whale oil, and seal oil are exported. ,The Falklands were discovered by British navigator John Davis (Davys) in 1592, and named by Capt. John Strong ? for Viscount Falkland, treasurer of the British navy ? in 1690. French navigator Louis De Bougainville established the first settlement, at Port Louis, in 1974. The following year Capt. John Bryon claimed the islands for Britain and left a small party at Saunders Island. Spain later forced the French and British to abandon their settlements but did not implement its claim to the islands. In 1829, the Republic of Buenos Aires, which claimed to have inherited the Spanish rights, sent Louis Vernet to develop a colony on the islands. In 1831 he seized three American sailing vessels, whereupon the men of the corvette U.S.S. Lexington destroyed his settlement and proclaimed the Falklands to be ?free of all governance.? Britain, which had never renounced its claim, re-established its settlements in 1833.,, ,The islands were important in the days of sail and steam shipping as a location to re-stock fresh food and fuel, and make repairs after trips around Cape Horn. Argentine forces in 1990 the Argentine congress declared the Falklands and other islands in the region part of the province of Tierra del Fuego, occupied the islands in April 1992, and after a short military campaign Britain regained control in June.,, Rulers:,,, ,British,, Monetary System:,,, ,1 Shilling = 12 Pence,, ,1 Pound = 20 Shillings to 1966,, ,1 Pound = 100 Pence, 1966-,,