It is hardly possible to determine the "historical moment" at which these republics passed from the military to the industrial system. The twilight of the _caudillos_ was a long one. Even in the Argentine, where the economic life is magnificent and complex, their influence persists. In Peru, Bolivia, and Brazil there exists a latent militarism which might quickly destroy the work of the civil presidents. For ten years in Peru and Uruguay and Bolivia government has followed government without revolutionary violence, but can we say that the anarchy of fifty years has disappeared for ever? The political order is slowly becoming assured, and the relation between wealth and the increase of immigration and of peace is obvious. Even in the industrial field evolution is the work of a few _caudillos_ who have been pacificators: General Pando in Bolivia, General Roca in the Argentine, Pierola in Peru, and Battle {96} y Ordonez in Uruguay, not to speak of the greatest of all, Porfirio Diaz. Economically speaking this period of development material is superior to the first period of sterile revolution; it is superior also from the political point of view, for institutions have been perfected and their constitutional action has defined itself. The municipalities and the legislative power have acquired a relative autonomy; they have been victorious over the executive, which was omnipotent during the military period. In beauty and intensity, however, the prosaic age of industrialism has been inferior to the preceding period. Of old, vigorous personalities rose above the common level, and history had the vitality of a tragedy; men played with destiny and with death as in the time of the Italian renaissance. "Tyranny," writes Burckhardt, "in the ancient Latin republics, commenced by developing to the highest degree the individuality of the sovereign, of the condottiere." He then demonstrates the equally personal character of the statesmen and popular tribunes of Florentine history.[2] This analysis is applicable to the American leaders. Heroic audacity and perpetual and virile unrest characterise the struggles of the _caciques_. The military cycle closed, the republics lose this dramatic interest. Instead of describing the history of governments we must study the economic evolution of nations, and their statistics of industry and commerce. In tragedy the chorus, the crowd, becomes the essential person; it judges and executes, it is spectator and creator, while the heroes of old, the conquerors of destiny and founders of cities, disappear in the mists of the past.