The morning news., 1890-07-29
The Euenos Ayres Trouble.

The situation in the Argentine Republic
is very serious. The revolutionary move
ment. which began last Friday with the
revolt Of the Tenth regiment, which was in
garrison at Buenos Ayres, has gained
strength each day. According 10 our dis
patches this morning the government forces
were defeated in battle in which there
were !, 900 killed and wounded. The gov
ernment house was bombardei and the gov
ernment was compelled 70 ask for a truce,
which was granted, but was limited to
twenty-four hours. Our dispatches say that
the navy has joined the revolutionists and
that the triumph of the revolution appears
to be assured.
II the government is already beaten, it
must have been in a very weak and
m rally bad condition. 1t certainly can
not have had the confidence Of the people.
No government baving behind it healthy
and vigorous public sentiment could be
overturned by comparatively small num-
Der of revolutionists so quickly.
1t is notorious that there has Geen great
dead of dissatisfaction with the government
in the Argentine Republic for quite long
time. The popular belief is that high pub
lie officials are corrupt, and that they use
not only their positions to accumulate
money, but also the money that belongs TO
the government The Bank Of Buenos
Ayres bears pretty much the same relation
to the Argentine Republic as the Bank of
England does to the United Kingdom About
July l the London newspapers announced
that the bank would be unable to pay its
regular quarterly dividend. There was at
once great discomfort, not only in Buenos
Ayres, but throughout the Republic. Con-
fidence in the integrity of the government,
which at no time within the last year or
two has been strong, was destroyed. The
clamor against those in power be-
came so great that it was i'm
possible to quiet it, The bank
officials declared that the bank was all
right. and that the payment Of the quar-
terly dividend had been put off until Octo-
ber for prudential reasons.
The people, however, were not satisfied.
They had good reasons to distrust the gov
ernment, and the discomfort increased until
it eliminated in revolt.
There seems to be no doubt that the finan-
cial affairs of the Argentine Republic are in
IN deplorable condition. There has been
aperiod Of reckless speculation. There has
been craze for promoting schemes of all
kinds by means of companies and syndi-
Gates, and London capitalists did more to
bring it about than even the spectators of
the republic. 1t is believed that officers of
the government were led away from the
strict line of duty by it, and that
the bank of Buenos Ayres, by their
connivance or authority, loaned i'm
mense sums of money on insufficient
security to promote wild cat schemes in
which they or their friends were interested.
There was no trouble, of course, so long as
the schemes promised well and confidence
i'll them was unshaken. The time came,
however, when it was apparent that
deceDtion with regard to them had been
practiced, and then the bank of Buenos
Ayres found itself in financial difficulties.
1t will soon be known, IN all probability,
whether or not the revolution will be sue
cessful. The outlook for it is very favor |
able. If the revolutionists should be sue
cessful the probability is that the govern
ment would pass into honester hands,
though it is by no means certain that the;tri-
umph of the revolutionists would increase
the prosperity of the country. 1t might |
hinder it greatly, for a while at least, |
because there would be discomfort and |
very unsettled state of affairs.