The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-19
ARGENTINA'S YEAR :
VERY PROSPEROUS
1915 Trade Balance Of Rcpub-
lie Four Times ~ Large
as 1914.
BANK RESERVES INCREASE

The vast Increase In exports from the
Argentine Republic in the year 1916
gives impressive testimony Of the
rapidly returning business prosperity
there. Business conditions which
reached 20 low q state Immediately fol.
lowing the outbreak Of wal have during
the yea taken on an entirely different
balance Of trade has been established.
the drain on the country through emil
grafton. largely Of Italians returning
home to fight, was more than offset by
immigration ard the situation through
the whole country improved. In
Buenos Ayres alone II IL estimated that
the volume Of business has advanced
80 per cent. over 1914.
For the year 1915 the imports Of
merchandise were 227.ooo.O0o pesos Ga
peso being worth So \, cents), a decrease
OF IS. o 0 900 pesos from the year pre-
cedlng. while the exports reached the
figure Of 55S. 1000. 900. AZ against 3+3,-
100000 In the year before. This makes
a balance Of trade for 1915 Of 331.O00.-
900 pesos, ~ compared with 1900 900
pesos In 1914.
In respoRs to this increase OF bal
ance there has been an increase In the
visible supply Of Argentine gold and in
outstanding paper currency. The paper
peso has "A f1xed value of "a per cent. Of
the gold. Al the end of December there
were 9sS. 900. 900 paper pesos outstand-
ing. against 333. 900. 900 gold pesos. rep
resenting a reserve Of 10 per cent
January I. 1915. there were sos. 000. 30
paper pesos outstanding and $4,000. 900
pesos in gold. A much larger supply
both OF geld and paper is held by the
Argentine banks than In the year pre-
ceding
The most interesting feature In the
modification of Arr entina's import con-
ditions due to the WAL is the quadrupling
Of the amount Of coal imported from the
United States. while the total iwporta-
ton of Goa has decreased % per cent.
The total coal imports have decreased
from 3.&22,000 tons to 100000 tons.
and imports from the United States have
gone up from 10000 tons to $500
tons. The business for the United States
has sprung up AS a result of the Eng
lish coal embargo.
Dealers here realize that they will not
be able TO hold all OF 1t when normal
conditions obtain.
Taking the last month of last year
-" ~ ~ " ~ WV "EAN 80
by quantity were slightly less thar for
December. 1871. This Is attributed in
a large degree to the impoSsibility uf
securing shipping facilities. Corn fell
on from 1856. 600 TO $1,000 tons. other
commodities In a lesser degree. and there
were few large increases.
The agricultural situation OF the coun-
try IL the hest in some years. Estimates
OF the production OF wheat. iulseed and
oats for the crop season Just closing
have been made by the Director of
Rural Economy. showing a wheat crop
OF 100000 tons. almost 100000 tons
more thai las, year. "a lirseei crop Of
l.0?3.000 tons. falling only slightly be-
hin the large yield of las, year. The
oAt crop was I.0?5. 900 tons. as increase
Of 200. 900 tons.
Although the market prices OF many
products OF South America are low owing
To the lack of Ucsan transportation. the
great abundance OF crops. II Is felt. cam
not fail to be an economic advantage
TO the country. either through "a turn
IN the shipping situation or Indirectly
in It's influence on the meat Industry.
At n rate coupled with the excellent
year in III. Australasian field i; is felt
that the yield assures an ample supply
OF foodstufs for the world demand in
spite OF the war.