Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-01-14

officials as to their handling of the govern
ment finances and funds.
Today this craze has passed. The people
have learned a lesson from it and property
is now stable. The biggest things are now
managed by foreigners, and from year to
year the government holdings grow less. A
foreigners property is perfectly safe. He
has in fact equal rights with the natural
lied Argentine, and he is subject to no
heavier taxes.
All businesses, however, have to pay a IL
cense ranging from So to 5000 a year ac-
cording to the amount of business done.
Banking firms pay more, the highest tax
on such firms amounting to $50 600. For
eign firms who do business, with or with
out a house in BuenoS Ayres, have to pay
from 500 to $500, and those who are only
commercial travellers pay fixed license of
500. This sum permits them to sell only in
Buenos AyreS and the national territories.
If they go outside of Buenos Ayres there is
usually state tax, which is paid in addi-
uon, ana this ranges from 500 to $500 a
year, according to the laws of the state
There are of course other taxes on business
such as stamps, etc, but these are some
what the same all the world over.
In the Stock Exchange.
AS to stock gamblers Buenos Ayres has
as great a number of financial bulls and
bears as any other country of the world.
Its stock exchange, bolsa, is the finan-
cial center of the Argentine In it you can
feel the pulse of the money market and can
see as crazy exhibitions of financial spacu-
latlon as in Paris, London or New York.
Inc great boom which burst in 1890 came
from the rapid growth of the country after
1851 Its growth was discounted over and
over again, and in ten years more than
66Z,oOO,GOO worth of stock was floated and
Of that more than half a billion dollars
totally lost. There We're land companies
railway companies. insurance companies
banks, and in fact almost every kind of in
sututlon capitalized at millions. Most Of
these have entirely disappeared from the
market, while the shares of other compan-
les have declined 80 per cent [ doubt
whether there has ever been anywhere such
loose business methods as prevailed here a.
that time.
The officers of the government were in
many OF the deals. The very highest Off
clais speculated with government money,
and through the government banks allowed
millions to be loaned on mortgages on
worthless property. Europe sent vast sums
over to the Argentine to fill the gaps, ex-
pectlng TO get tens of millions back and
when the bubble burst the Barring Broth
ers and other long-established London firms
came near going to pieces with it.
Ioday the chief speculation on the stock
T gHchange is IN the money of the country
The brokers buy and Sell gold, which is nm
today and down tomorrow or rather thew
sell the credits of their country In other
WORDS, the most of their business is in buv-
-4-S oiiu SSiiiiiS own notes.
A Big Membership.
There Is no more interesting place in
south America than this stock exchange If
Buenos Ayres. Its doors are guarded by
1ootmen in livery, and from u to / and
from to pm. you may meet upon its
floors the brightest business men of the
Argentine.
The membership costs almost nothing
and the dues are less than So quarter,
The result is that there are 700 brokers
and nearly every prominent business man
OF the city is member of the exchange
Inc stock exchange is not unlike a business
man club, and if you could enter it with
out knowing where you were going Won
might well Imagine yourself in the stock
markets of New York or Chicago The
only dinerence is the language, for the men
are of all nationalties and they dress and
look just as their brother brokers do in
London, New York or Chicago
Inc same mutations of fortunes exist
ana each man can tell you his own story
or ups and downs-of fortunes lost and
won. speculation makes and loses money
just as quickly In Buenos Ayres as in New
YORK, and as the commercial relations of
the United States and the Argentine grow
closer L predict that the Yankees will hold
their own on this stock exchange with the
Italians, German and English, as they
make their bids for the financial plums of
the Argentine Republic.
FRANK G. CARPENTER