A mischievous result of the financial standing of many of the colonists is their frequent lapse into the power of the local store-keeper. There are no branch banks in the camp towns and often no grain dealer apart from this accommodating tradesman. In return for very elastic credit, based on crop expectations, he buys the whole yield at his own price, and, as he has a monopoly of the retail trade as well, he secures a large profit on both transactions. In his defence it must be admitted that he runs a very great risk indeed in the credit which he is compelled to give, and is justified to a great extent in recouping himself when the opportunity occurs. But the undeveloped economic system, and the encouragement of settlers without a sufficient backing of capital, are much to be deplored. In recent years the agriculture of a whole province threatened to come to an abrupt termination owing to the complete inability of the colonists to buy or borrow from the merchants seed for their year's sowing. It was only rescued by the prompt and wise action of the local railway company who supplied the grain, on the easiest of terms and without security. The result was, although, of course, an immediate loss to the company, the salvation of the province, and the railway's ultimate gain. Owing to the enterprise of various people there seems to be a possibility that the colonist's conservative partiality to cereals may be overcome. Not only have the possibilities of chicken-farming been demonstrated, but the co-operative working of a large dairy and ice-producing plant has already proved a success. The co-operative movement may indeed open a field, especially in the South, for other labour besides that of Latin origin. It is true that the Boer Colony has not been an unqualified success. But the Welsh have thrived in Chubut, and of the newly opened regions about Nahuel-Huapi residents speak enthusiastically. Unfortunately there does not seem to be much land available, and, hitherto, there have been no railway facilities. There is a paper dealing with the Welsh Colony, published by the Foreign Office in London. But, apart from the accounts of sporting and scientific expeditions, there is little available literature. It is much to be deplored, and in default of an independent work in English the translation of existing works in other languages would be very welcome. CHAPTER VI. ENGLISH TRADE. ITS POSITION AND PROSPECTS.