An analysis of the figures of the foreign trade of the Argentine Republic for the past twenty years establishes the fact that the United States is in a position to successfully compete with Europe in many lines far beyond the limits already reached; and there is certainly no lack of effort or inclination on the part of American manufacturers to enter into such competition. It is therefore reasonable to assume that there are other causes operating to check a growth in the volume of American trade with the Argentine Republic. There are no laws in the Argentine Republic, either of a fiscal or domestic nature, which are calculated to affect ruling market prices, or which admit of inequality of treatment. Tariffs are based upon a reciprocal policy, the tariff laws of the Argentine Republic being so framed as to permit the Executive to relax and reduce in favor of those countries which accord similar treatment to her national products. Credits are intrinsically sound and in ordinary periods are usually regulated with foreign countries by purchase at ninety, or one hundred-and-twenty days' sight drafts. In the discussion of this point it may also be urged that the statements so generally made in regard to the alleged long credit demanded by Argentine buyers owe their origin to the conditions prevailing in regard to shipping matters in days gone by, when the steamship services between North and South America were more irregular and far less rapid than is the case to-day. It was no fault of the Argentine importer that merchandise was frequently tied up for weeks together in an American port and that the trip took much longer than it now does. Yet, those delays caused the exporter to wait weeks and frequently months longer than was necessary to receive his money. Hence, the currency of the statement that long credit is an indispensable condition to trading with Argentine. At the present moment the Argentine Republic is gradually recovering from the effects of a financial and commercial crisis brought about through conditions which it had no power to change; and, in order to secure immediate results, it may be necessary at the present time to extend the customary terms of credit, but this may be done with perfect safety and with commensurate profit if the exporter avails himself of the services created by the National City Bank of New York and others for the investigation of prospective buyers.