The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-02-17
ARGENTINE UNREST
CHIEFLY ECONOMIC
London "Statist" Believes In.
vestments Will Not Suffer
Permanent Harm.
GOVERNMENT IN CONTROL
Security Holders Advised to
Retain Their Bonds Till Re-
turn Of Normal Conditions.
speeial co,re,pondenc. 10 Tr. srx


LONDON. Feb. 6.--While the world at
large has been looking on the uncertain
labor situation in South America. par
ticularly In Argentina. with some I'M
easiness. nowhere has there been greater
trepidation felt than in England. where
vast numbers of Argentine securities are
held. A great many persons holding
these South American securities have
sought advice from various sources as
to what their best course OF action would
be In the circumstances.
In most instances they have been
counselled to hold on to these securities,
the general theory being that conditions
IA South America have now reached their
low ebb and that hence forth a more ia
vorabie development will he seen. 1t Is
pointed out that throughout the troublous
times the various Governments OF south
American States have been able TO con-
tinue in firm control and that all revo-
lutionary movements have been sup
pressed without great trouble.
Unless a Government completely loses
control, II il pointed out. there Is no
danger to the financial interests OF the
country, and on this theory security own
ers have been persuaded to keep their
investments intact.
sAithough the revolutionary move
ments which have taken place in Buenos
Ayres and certain other cities OF the Ar
gentine Republic are exceedingly dis
auieting Incidents" says the Stdtist III
analyzlng the Argentine situation. I'm
'yestors in securities In the Argentine
Republic will be we'll advised not to at
tach undue Importance to what has 30
recently occurred. 1t will be remembered
that during recent months attention has
been called to the growing state or un-
rest which has been more or less ap-
parent throughout the republic, and we
have endeavored to the best OF our aDii-
ity to explain the cause without exciting
any unnecessary alarm.
Can Rely ON Armed Forces.
'Unless a Government completely loses
the sympathy of those who more or less
control public opinion in any country
and Is therefore unable to rely upon the
armed forces upon which the mamie
nance OF law and order ultimately rests
there can be no reasonable doubt that
Government can maintain itself IN au-
thority provided II Is determined to use
suf,cient force There Is no reason to
doubt that the Argentine Government
although far from being popular win
many OF the most important interests
in the republic. is sufficiently in toucn
with public opinion to be able 10 rel!
mon the support Of the army and navy
for putting down any attempt at over
turning the republic.
"But while 1t would be inadvisable to
attach. undue Importance to the revolu-
tionary movements which have recently
occurred in various parts OF Argentina
which, according to the latest reports
have caused serious loss Of life In Bueno'
10 mi
should consider carefully the causes
which have led TO the present large
measure OF unrest They are Tor tht
most part causes over which the AT
sentine people and the Argentine Gov
arnment have had exceedingly little CON
troll. They are of course particularly
inherent in the Constitution; but tha'
applies to all forms of'Government simi.
lar to that of the Argentine Republic ano
moro especially to these peculiar Forms
OF Government when they have en-
deavored to adapt themselves to the re-
ouirements of the Spanish republics Of
South America.
I'VE will conhne ourselves to thost
causes over which the Government hal
had no control. They are not in them
selves sufficient to account for the pres
ent large measure OF unrest aRitatine
the peoples OF all republics. as well as
indeed, the peoples OF other states II
South America and elsewhere. Argen
tina, as we have often pointed out. !:
almost exactly ten times the size OF thu
United Kingdom in area. 1t has popu
lation all told of very little in excess o.
that OF Greater London. 1t is engaged
for the most part>i raising produce o
various kinds, principally food and raw
materials. for consumption particularly
L. nj tat nf America
but mainly in Europe
Developed by British Capital.
TT owes its present economic condi
tion very largely to the peculiar need
Of the United Kingdom. 1t was from
the United Kingdom that the bulk OF thu
money was found which In the past tive
generations has developed the peculia
kind of economic conditions which pre-
vail in the southern republic. In Span
ish colonial times what we now CO tn
Argentine Republic was hardly valued a
all by the Spanish Government, becaus
the produce which that republic Is 81
eminently capable of supplying in larg
quantities could, in those days, ind M
market outside. Then. as now, Their
was no adequate population to consum
the immense quantity OF produce Argen
tina was capable OF raising. The pres
emit economic condition in Argentina 1
mainly due to the equally peculiar condi
lions under which our economic devel
opment has taken place. These island
are very small. situated between tn
50th and 60th parallels north of tn
equator. Consequently. owing partly t
our restricted area, and still more 4
the nature of our climate, II is exceed
ingly difficult to raise any large suppl!
Ill
would render II valuable for the con
sumption OF the bulk OF our people. A
a result England has always sought he
economic development rather as a man
ufacturing, mining and maritime stat
then in attempting to develop her ag
'@sTe,.itural resources @~ consequences
some so per cent OF our population ar
engaged in what. for convenience, W
call town industries: hence. we requir
enormous quantities OF food and raw ma
terials. the latter TO be worked up Il
our factories and the former to sustain
our population.
How Development Began.
when the population of the Unite
States OF North America grew beyond
certain figure toward the fnal quartz
OF the last century 1t became eviden
that II we were to obtain supplies o
food and raw materials at the price
which the bountiful supplies from tn
northern republic had accustomed ou
people to expect. II was necessary I
develop fresh sources OF supply. AS
result OF this discovery bankers, fnan
ciers. and the great trading interests o
this country resolved upon the develop
ment OF the Argentine Republic yer
much along the lines which we no,
know 1t to have developed.
'sSrurn vtrILino fno,,,.x.