[Illustration: The most prosperous part of South America.]
BUENOS AYRES, the capital of Argentina, is the largest city not only
in South America but in the whole southern hemisphere. The La Plata,
at whose mouth it stands, affords navigation into all the northern
parts of the republic, as well as into the neighbouring states of
Uruguay, Paraguay, Brazil, and Bolivia. The riverside at Buenos Ayres
is at all times of the year a perfect forest of masts and smoke-stacks
belonging to the shipping that supplies this navigation. Recently, at
a cost of $25,000,000, the river, which here is shallow, has been
deepened and new wharves and docks have been built, and ocean-going
vessels of the deepest draught (which formerly used to be lightened
fourteen miles away) can now unload or be loaded right in the very
heart of the city. The total commerce of the republic amounts to
$200,000,000 or $225,000,000 a year, and of this trade Buenos Ayres
transacts seven eighths in imports and three fifths in exports. The
amount of this trade secured by the United States is about a tenth,
running from $12,000,000 to $24,000,000. In 1896 it was only
$12,500,000. The principal export trade is with France ($24,000,000),
Great Britain ($14,000,000), Germany ($13,000,000), and Belgium. Great
Britain does not buy Argentina wool. The principal import trade is
with Great Britain ($45,000,000), Germany ($14,000,000), France
($12,000,000), and Italy. The Buenos Ayreans are fond of display and
of dress and of ornamentation, and the importations from France and
Italy are principally of goods to gratify this fondness. There is a
considerable exportation of wheat, flour, tobacco, and maté (Paraguay
tea) to Brazil and other South American states. Buenos Ayres is the
centre of the Argentina railway system, which consists of about 9000
miles of road. There are 25,500 miles of telegraph routes. The
national debt amounts to $430,000,000. The provincial debts amount to
about $140,000,000. The taxation amounts to nearly ten per cent. of
the earnings of the people, as against four and one half per cent. in
Canada and five per cent. in Australia.