proportion, and they somehow manage to persuade themselves that Germany is an absolutely irresistible industrial force. In the Argentine her share of the import trade is somewhat less than half that of England. [Illustration: FREIGHT TRAIN FOR ENTRE RIOS CROSSING NEW BRIDGE.] It is certainly true that our country has very little system in placing information before our traders. The Consular Reports are valuable, but each refers to a comparatively small district, and, apart from the fact that very few steps seem to be taken to bring them to the notice of traders, there is great inconvenience in collecting information piecemeal, nor is the form, in any case, sufficiently stimulating. We ought to take a lesson from the handsomely illustrated publications of the States, and the scientific and literary ability with which the French expound their theme. Our work hitherto has been fruit-bearing, but not light-giving. One of the commonest exclamations of an Englishman when he has spent a few days in Buenos Aires is: "Well! I wish the people at home knew about this." Few people read statistics, fewer still remember them, and fewest of all understand them; and consequently the signs of industrial prosperity are almost stupefying. Still, as railway companies seem to find photographs the most effective advertisements, it can hardly be doubted that well-illustrated pamphlets setting forth the industrial promise of Argentina would make many people in England realise the true state of affairs. Certainly, the Argentine Government does all in its power by exhibitions and the dissemination of intelligence to attract capital and settlers. Perhaps, as a prelude to this subject, a word may be said about the British capital invested in the country, for this is one of the most striking features. Englishmen have from the beginning taken the lead in developing the resources of the country, and this fact is fully appreciated by the people of Argentina, who owe no less their pre-eminent position in South America to the stream of English capital, which has been pouring in for generations, than to their fine climate and immense natural wealth. In the old Spanish days England had a leading share in the contraband trade, and during the Napoleonic war her merchants were almost as welcome guests as her armies and fleets were unwelcome. The English were the pioneers in railway construction, and still own the most important lines; they have founded banks and freezing establishments, lighted the streets, laid down tramways, and built harbours. Up to May 31, 1908, the amount of English capital invested in Argentina was as follows:-- Railways £137,845,000 Banks 8,580,000 Tramways 8,010,986 Sundry enterprises 20,910,580 ------------ Total £175,346,566