IN THE ARGENTINE

Taranaki Daily News, 30 December 1929, Page 16

IN THE ARGENTINE

A TRADE STRUGGLE. ENGLAND AND AMERICA. D'ABERNON MISSION. New York, No*’. 27. The success of the British Mission to the Argentine, headed by Lord d’Abernon. has led to active public discussion of United States prestige in South America. In August last, Buenos Aires was visited by a trade delegation from Great Britain, headed by Lord d'Abernon, with the object of increasing trade with the Argentine. The American view of the project is that it was designed to recapture some of the trade that was being lost to the United States. American exports to the Argentine increased 33 per cent, in the first half of 1929, compared with the same period in 1928. President Irigoyen called on the British Mission to say farewell when it departed—an index to its popularity with Argentine traders. It was announced shortly afterwards that arrangements had been made for the purchase 'by ’the Argentine State Railways of £8,000,000 worth of supplies .in England, and for the reciprocal purchase by England of a similar amount of foodstuffs. The United States has in the past few years been selling most of the supplies to the Argentine Railways. This report was followed by another, a few days later, that Argentina had arranged with the mission for a loan of •£16,000,000 for the construction of roads, with the arrangement in addition that the highway construction should be done by British contractors. American contractors believe there may yet be an opportunity to secure the business of supplying the Argentine Railways, .relying on the established practice of the .Argentine Government to call for tenders for all supplies. Despite this assurance, the foodstuffs have been purchased by England, and one side of the bargain has been carried out. As to the road loan, there is some doubt here as to its practicability. It is stated that, even if the loan is granted, Britain does not specialise in road-making plant, while America does, and therefore she expects to get many of the contracts resulting from the highway building programme. Moreover, it is said here, Argentina's credit is good, and she can get highway loan accommodation for

the ■asking in New York, as well as London.

UNITED STATES TARIFF. The British Mission and its very favourable reception in the Argentine aro accepted here as an outcome of United States tariff activity. Argentina was one of 3S countries that protested against the new tariff schedules. American goodwill stocks receded there, as elsewhere. There has grown up a fairly strong body of opinion in New York and Washington that Argentina is becoming anti-American, following the misunderstandings that arose at the last Pan-American Congress at Havana and the recent tariff propaganda. It is even asserted that President Irigoyen is anti-American. President Irigoyen’s attitude is a very important factor in the present contest between America and England for trade in Argentina. He was elected President for the first time fourteen years ago, and served through the war period, keeping Argentina neutral, despite a declaration of war against Germany by the Argentine Congress. In power again after a term of office by Dr. de Alvear, he is handicapped somewhat by the fact that he is without a majority in the Senate. Young industries are calling for more tariff protection. Yet the country is progressing rapidly. Wheat is expected to be DO per cent, of a bumper crop. Linseed has been damaged; a 60 per cent, crop is anticipated. Argentina has had three fine crop years in succession, and there is plenty of money for domestic needs. In Buenos Aires two magnificent diagonal avenues have been cut through the business section of the city. New suburbs have been opened, with new factories, well-paved streets, K and thousands of new houses and apartments. American contractors are building one of the finest subways in the world to carry both regular subway trains and full-siW coaches of one of the great railways into the very heart of the capitol. The port is developing a super-power station, mammoth warehouses, and granaries. It is a great world port. Into this thriving atmosphere fritish and American influences are concentrating a drive to improve their existing trade relations. The results should 'be worth noting.