Flag of Peru which joined Bolivia to form the Peru–Bolivian Confederation. The South was formed first, thus adopting a new flag: a red vertical band on the left, with a golden sun and four small stars above (representing Arequipa, Ayacucho, Cuzco and Puno, the four groups of the republic), and the right side divided into an upper green band and a lower white one. The North kept the currency and all ---- of the dissolved Peru, including its flag. The flag of the Peru-Bolivian Confederation showed the coats of arms of Bolivia, South and North Peru, from left to right and slanted at
History of Peru since most of the presidents that ruled the country were from the social elite. During Augusto B. Leguía's periods in government [1908–1912 and 1919–1930, the latter known as the "Oncenio" (the "Eleventh")], the entrance of American capital became general and the bourgeoisie was favored. This policy, along with increased dependence on foreign investment, focused opposition from the most progressive sectors of Peruvian society against the landowner oligarchy. There was a final peace treaty in 1929, signed between Peru and Chile and called the Treaty of Lima by which Tacna returned to Peru and Peru yielded permanently the formerly rich provinces