Consequently the Argentine is far from achieving the wonderful results obtained by the great northern Republic of America;[58] for that matter, she could not compare with the States, having only 6,000,000 inhabitants to the latter’s 86,000,000; and her wealth is equivalent only to a small fraction of the colossal wealth of the States. Yet an examination of the above figures is encouraging, for in view of the progress accomplished before the previous census, the Argentine may justly regard her flocks and herds with pride, and continue to increase them, thanks to her climate, the fertility of her soil, and the energy of her inhabitants. [Footnote 58: It must be remembered that of two beasts of equal purity of breed, and in perfect condition, the Argentine would be reckoned as being of the lower value. The reason of this is economic and very simple. The Argentine bullock is affected by competition and pays tribute to the breeder, the railway company, the refrigerating company, the shipping line, the European buyer or salesman, and the retail salesman. Consequently it is worth less in the Argentine than in the States, where the selling-price is artificially inflated, and where the value of a beast to the breeder, since he has only to pay freight and the profit of a large company, which is sometimes the breeder and the railway company too, is naturally far greater. It must not therefore be supposed that because the Argentine horse or bullock is cited as of lower value, that it is inferior. Its value is lower, just as good land in the Argentine is cheaper than in New York State.——[TRANS.]] CHAPTER IV THE VALUE OF THE SOIL Difficulties in estimating this value——Principal factors of valuation——Examples taken from lucerne fields and the forests of quebracho——Despite adverse circumstances, and with a few exceptions, there has always been a tendency for the price of land to rise——Alienation of lands acquired by conquest from the Indians; their enormous present value——The rise of value dates from 1902, and has hitherto continued without relapse——The causes of this rise, and its rational principles, according to an authoritative opinion. Examples of valuation drawn from the sales of public lands——The rise of prices in the Provinces of Buenos Ayres, Córdoba, Santa Fé, and the Pampa, with figures indicating the prices realised in some large recent transactions.