Evening star., 1932-05-22
ARGENTINA ON BRINK
OF NEW INDEPENDENCE
Republics l22d independence Day Finds
Nation at Most Interesting Era
of Development.

came minister OF war, and In the sew
eral years which he held this post he
thoroughly moderniZed and reorganized
Argentina's fighting forces.
Upon taking Office, three months ago.
| President Justo was faced with the diff
ficult task of completing and legalizing
the reforms initiated by the provisional
government, and with the problem,
which undoubtedly is universal today,
OF weathering the economic depression
Although, thanks to the energetic
rule of Uriburu, Argentina is financially
better off than most of the Latin
American republics, President Justo will
still have to do lot to definitely stabi-
lie the governments financial situ-
alton. The hastily imposed emergency
tariffs and SupertaXes, particularly the
new income tax probably are giving
him constant headaches at the present
time
On the other hand, press dispatches
report a betterment of business condi-
tions in Argentina, which is unusual if
compared with the depressing prospects
in other Southern countries.
This years exports of grain are said
to have been of record size and to have
been made at satisfactory price level
The value Of the peso has materially
improved after reaching new low levels
SC'SAdA IIIOlliIlS dSO. AISGIllllld Is OLl6
OF the few Latin American countries
which has not suspended payment of
interest or capital on its foreign debts.
Sees New independence.
An outstanding Argentine economist,
DR.. Alexandra Bunge, declared recently
that the year 1882 will see the inaugu-
ration of Argentinas economic and
financial independence.
THE universal collapse of 1890" said
DR.. Bunge, will prove providential for
tion at the beginning of the last CEN
tury was the starting point of the po-
litical independence and economic birth
of the Argentine nation"
He explained that Argentina has one
of the smallest public debts in the
world, based on population and eco
nonlc capacity, and that it is one Of
the few countries which has been able
to export the entire surplus of her pro-
duction during the critical months of
last year.
The world depression, in fact has
been felt less in Argentina than else
where. Up to a short time ago more
than 40 per cent of the products con-
sumed in the country came from abroad.
But the depression has reduced imports
ano increased domestic production,
With the result that Argentina is eX-
panding the national market at a time
When other countries are forced to seek
foreign outlets and cannot find them.
Bonds Show Strength.
This favorable trade balance was
mentioned few days ago as one of the
factors explaining the strength dis
played by Argentine bonds in the New
York stock market. The other two fac
tors were given as ''the rigid economy
program Of the recently inaugurated
constitutional government" and the
announcement by the Commerce De-
partment that Argentina is the only
South American country at present
meeting service of interest and amorti-
zation on its dollar bonds"
But financial worries are not the only
problems which confront President
Justo's administration. The opposition
OF the Radical party is becoming
stronger every day. The 82-year-old
leader of the 'personaliStia" sector.
Senor Irigoyen, the man of the peo-
pie" is back in politics, "pardoned" by
the revolutionary government.
A cable report announces that mem
DerS OF lrigoyen's party, who put him
twice INTO the presidency, are emerging
from the hiding places into which the
1880 revolution drove them and rallying
again around the "stocky, frock-coated
figure whose hold on the masses has
few counterparts in Argentine history"
Within two years ArgentineanS have
seen lrigoyen as their President, as a
political prisoner repudiated by his own
friends and now as a leader with a
large popular following. Only in the
stranger -than-fictio ups and downs
of domestic politics-and in a period
when the mood of the world is one of
change and restlessness-could such a
thing have happened
Relations between the Argentine Re-
public and the United States have been
steadily improved in recent times. Dur
ing the two years of Irigoyen's second
administration they suffered a setback.
due to the general aloofness of Irigoy-
ems foreign policy, but both the pro-
V1slonal government Of Gen. Uriburu
and the present government of Presi-
dent Justo have been particularly
friendly to the United States.
Friendliness Proven.
A proof Of this friendliness and good
will was the appointment last wear of
Senor Felipe Espil as Argentine Am
bassador to Washington. Senor Espil,
one Of the outstanding figures in the
N4PlOllidIlC otINlCe OI the southern re-
public, was known, specially since his
intervention in the Pan-American Con-
ference of Havana. for his sympathies
toward this country, and his interest in
the promotion of Argentine American
relations.
Political and economic links between
the United States and Argentina have
an origin much older than commonly
supposed here.
They began when the first pioneering
American business men went down to
Buenos Aires, even before the Argen-
tlreanS had secured their independence
from Spain. Gen. Mitre, the famous
Argentine historian and statesman has
commented upon the influence which
the ideas and efforts of these. whom
he called 1.-The men from Boston" had
upon the Development of the nascent
Argentine nationality
Today when the two countries are
/ leading in the material and social de-
| velopment of the New World, such links
are indestructibly supported by more
than a century of peaceful relations and
by hundreds of millions of dollars in
investments and trade
Copyright. 1922