The Argentine in the Twentieth CenturyMartínez, Alberto B.
History
The Argentine in the Twentieth Century
Martínez, Alberto B.
Argentina -- Commerce; Argentina -- Economic conditions; Finance -- Argentina
One cannot subject these banks to a rigid comparison; each of them
conducts its business for the benefit of clients of its own nationality,
and in consequence must accede to their usages. The English banks, for
example, have as their clients railway companies, a large number of
export houses, and steamship lines, on account of the ties which connect
them with the London market and its principal financial groups. The
German Bank principally serves German industrial houses, and also German
exporters. The French Bank of the Rio de la Plata, owing to its relations
with the Paris market, and its strong position in Buenos Ayres, is of
inestimable service to French commerce in the Argentine. The Italian
banks share the custom of the Italian colony, which, on account of its
numerical importance, gives rise to a great deal of small business.
_The Banco Español del Rio de la Plata_, which has branch establishments
in Paris, London, Genoa, and Madrid, is in direct relation with the
financial circles of those cities, and facilitates all banking operations
between the various Spanish-speaking countries. Founded by the financiers
of Buenos Ayres, and afterwards enlarged by French capital, the Spanish
bank, which has admirable premises, has succeeded in surrounding itself
with a _clientèle_ of great landed proprietors, by offering them all
kinds of facilities for the conduct of business operations connected with
the sale of national produce. Their branch establishment in Paris is the
favourite bank of the numerous Argentines who go yearly to Europe on
business or for pleasure.
In this congeries of banks the Argentine is represented by two great
establishments: one of these, the _Banco de la Nacion Argentina_, is a
State institution which, in addition to the business transacted with
the Government, runs cash and deposit departments like other banks;
the other is the _Banco de la Provincia de Buenos Ayres_, whose origin
was in the reconstruction of the historic bank of the same name, the
collapse of which was provoked by the terrible financial crisis of 1890.
The excellent results of the last three years which we shall presently
consider in detail, allow us to predict a brilliant future for this
institution.
We shall give, in the following table, a list of these banks, in the
order of their establishment, with details as to their capital, reserves,
transactions, and dividends.
Public-domain text, read in full here on John Shaqi.
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