Owner of an immense coast-line bathed by the southern seas, the Argentine has an appreciable store of wealth at her disposal; which so far has been drawn upon only in a modest and almost secret manner, but which is now beginning to attract attention, to the great benefit of the country and of those who have entered upon this industry. Since Prof. Nordenskjold wintered in Antarctic waters, Captain Larsen has been able to report a source of great wealth, which can be easily and profitably exploited, in the fishing of these waters; and upon his arrival in Buenos Ayres he put himself in communication with a group of Argentine capitalists, who decided to form a limited company by the name of _La Pesca_, with a capital of £32,000. The results of the first season’s fishing was so productive, and the number of whales harpooned and “cut in” so large, that, according to a report which has been sent us, this company was able, at the end of the first year, to return the capital sunk in the firm of dividends. Naturally such results cannot fail to draw new adventurers into this industry, which in turn will increase and develop the wealth of the country, at the same time procuring for the country a class of men formed by the strenuous labour of Antarctic life; a class of which the young Argentine navy has the greatest need. CHAPTER III MINES, ELECTRICAL AND OTHER INDUSTRIES The Argentine has not entered the industrial age——She has no coal-mines in operation, no natural motive forces of any importance. MINES——Symptoms of the awakening of the mining industry——Numerous lodes in the Andes——The mines of La Rioja and Catamarca——Mines in other provinces and territories——Mining legislation. ELECTRIC INDUSTRIES——Tramways; their development, their perfected equipment, and their profits——Progress of electric lighting—— Telegraphs——Telephones. VARIOUS INDUSTRIES——List of various industries established in Buenos Ayres, according to the last census, with the value of their products. Comparison between the statistics of 1895 and those of 1904—— Progress realised in 1908——Workshops and factories. The Argentine Republic, as we have already on various occasions explained, has not yet entered upon the industrial phase. All its capital and all its energies tend toward the exploitation of the soil, and as the results are greater than the boldest speculator could have predicted, the country has no need at present, with its small population, to launch itself into the unknown by entering the province of industry.