A Five Years' Residence in Buenos Ayres, During the years 1820 to 1825: Containing Remarks on the Country and Inhabitants; and a Visit to Colonia Del SacramentoLove, George Thomas
History
A Five Years' Residence in Buenos Ayres, During the years 1820 to 1825: Containing Remarks on the Country and Inhabitants; and a Visit to Colonia Del Sacramento
Love, George Thomas
Buenos Aires (Argentina) -- Description and travel; Colonia del Sacramento (Uruguay) -- Description and travel
Besides the above notes, the present currency consists of the doubloon
of 17 dollars; the half, quarter, and half-quarter doubloon; the dollar,
half dollar, and quarter dollar; with reals, madios, and quartillos. The
hard dollars are scarce, being bought up for exportation.
In exporting money, there is a small duty of two per cent. to pay. Being
so trifling, it prevents smuggling, which was formerly the case. Making
returns in produce, however, is at all times preferred to money, when it
can be obtained at any thing like a moderate rate; but it is at times so
scarce and dear, that it renders the purchasing ruinous.
The average exchange for the last three years has been forty-five pence
the Spanish dollar.
The Bank of Buenos Ayres opened in 1822, the first thing of the sort in
this province. Its capital is one million of dollars, in 1000 shares, of
1000 dollars each. The number of directors are ten, _viz._ six Creolian
gentlemen, and four British. It has hitherto proved a profitable
concern. The Bank shares rose from par to 170, but quickly declined to
90 and 100 per cent. premium, at which price they seem stationary. The
last dividend paid on Bank stock was after the rate of 30 per cent.
The reported establishment of a National Bank, has created some alarm,
amongst the present Bank proprietors; numerous controversies have taken
place in the newspapers, upon the occasion. The affair, however, seems
at rest for the present.
The government funds of Buenos Ayres have lately had a considerable
rise, from 28 to 100. The bulls carry all before them; and the bears
have had to pay pretty handsomely. Who knows but a Stock Exchange may be
established here some years hence?
Considerable sums of money have been made by the advance in the public
funds in Buenos Ayres; and, from the eagerness of all classes to
speculate in them, it is probable that lame ducks will not be confined
to Capel Court. Every shopkeeper now dabbles in the funds; and, in a
market so confined, the mischief may be very serious.
* * * * *
EDUCATION, and LITERATURE.--The government expresses the most laudable
anxiety to forward education, by patronizing schools upon the
Lancasterian system; and the numerous seminaries in this city are a
credit to the people.
The College School consists of 125 youths, from the age of 15 to 16 or
17 years of age. In their walks, they wear black clothes, with a light
blue ribbon over their coat. Their behaviour is better than that of the
boys at our public schools: a person may mix amongst them, without being
subject to those insolent remarks so common at home, and which makes a
stranger dread to enter their precincts.
Public-domain text, read in full here on John Shaqi.
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