The Alaska daily empire., 1915-01-15
ENTERING WEDGE N
 SoU'rH AMERICA

interruption Co Europe oYeraeas com merce but it remained for Q synai' cate ol American banking institutions, Iof which tho First National Bank oi Boston ig leading member to trAns' late words Into deeds and furnish ii- lnapclal assistanco to one ol these re. lpublics
 The syndicate, which includoa eight banks and one Investment house has purchased s15,OOO,000 government Of the Argentine nation 6fo gold notes dated Dec 10. 19f4, end due. series "A9 "Bn and "C" of S5iO0OlOO0 each respectively on Dec DO, 1915, 1916 and 1917 The first National Bank and ] N w. Harris g Co., Inc, of Boston ! are handling the loon in New England The notes are selling rapidly and an curly oyersubscrIpton is indicated at ,ho offering prices of 9 60 basls for ! the oneyear and 6ilee for the two and threeyear notes,
 This new Argentine loan involves but a small commission to the bankers They have periodically taken Che ground that the trado re5piradone in the Argentine of American business men will be advanced. and the poilt ioal relations between the two coun- tries cemonted by Che granting of un- usually favorable terms to the gov l ernment of the republic.
 Tho truly remarkable strides made l by the Argentine republic have prob ably not made the impression upon ! the provincialism of North Amerlcans which they deserve Since 1895 the population of Che Argentine has risen ! from 3,956,060 to an estimated pop ulatlon in 1913 of 77Oi,89S. Prelim. mary returns from the June. 1914 ] census. however indicate that the 1913 estimate was too low and that ! the population is actually at least g. 100000.
 It is a vast agricultural country with an area of about 7SS,000,000 acres, or considerably more than one-third that of continental United States. The cultivated area of the country in. creased from about 18.76O.0OO acres ln 1896 to the present total Of 56,7Oo,- 900, or over 8O09o. In the last ten years value of the four principle Ar. genuine crops (wheat, con, oats and flaxl, estimated at the average export ! prices, has increased 59eo, rom S222.. 999.SO0 to SS7I6O4,900 The republic probably produces per capita great i CT excess of foodstuns over It's own needs than any other country with two exceptions Total value of the agricultural exports in 1913 was S80l,- ! S61O94, as against S150,32S,529 in ! 1904, or more than double. From 8 ! careful analysis the estimate is arrly- ed at that the present. trade balance Is In favor of Argentine by $200.000.- GOO gold
 The Argentine republic occupies first place among South American ! countries in ranlroad mileage and ninth among countries of the entire world. On Jan. I. 1914 total mileage was over 10000, with capital exceed ing $700.0O0O.0OO gold.
 In It's animal products the Argentine has great source of natural wealth. ] These form about 409e of total expor- tation. According to 8 recent cen sus there were in tho country S0,000,. 900 cattle. 7.5O0,0OO horses. about TO- 100000 sheep and other miscellaneous animals. which bring tho total value to about S7OO,O0OOO0 gold. The con hdence of British investors in the stability Of the country may bo ap. preciated from the fact chat their inc vestment In the Argentine is esti- mated at over S2,O0O0O0,O0o
 The external and internal funded debt amounted on Dec. S1, 1913, to S54472lS1S. Through the operation of sinking funds the government has paid off nearly S111O0000O of tho or iglnal issues of its external debt prior to Dec S1 1913. Total service of the national debt in 1913 required $5.- 698,678, of which S10151,52O was de- voted to amortization payments. The interest payments, therefore. amount ed to S25,542,153, which is only one. sixth of the total revenues of the gov ernment in that year while the total debt service required only about 2Sse.
 In normal times all of the bonds of ;he Argentine government external loans sell on approximately 5eo in- come basis. or slightly better. lt is of interest to note that at the market prices quoted on the London Stock Exchange July 30, the income returns which could be obtained on Argen- tine government securities, ranged from less than 4,S5ae to no higher chan 525eo.
 The $15.OOO,0OO loan which is now being placed carries the distinction of being the first short-term isaae of any South American government to be of. fered in Boston.-( (Boston News Btu reau)
 VALDEZ TO HAVE
 REFORM ELECTION LAWS
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