In Argentine there are no ethnic problems. The social antagonism raised by an arrogant plutocracy on the one hand and poverty stricken proletariat on the other, is not presented as an Argentine problem, because riches are still in process of formation there, and easily pass from one hand to another. A monopoly of riches cannot be prolonged beyond a single generation because with the system of compulsory division of descendants' estates, it soon returns to the common mass of the population. Social conditions in our evolution, present distinct problems from those which characterize other nations and demand, therefore, a direct study on the ground and must not be viewed through the doctrines developed in other nations and amid other conditions. The molding of the national spirit by uniform and compulsory schools and the slow adaptation of the mass of the immigrants to historical traditions and to future national aims, demand much time and they are now in the full process of being worked out. The celebration of the Centenary of our independence has made prominent the fact that such an evolution is much more advanced than one would think. There still remains, nevertheless, not a little to be done in this direction, though the national compulsory school system and the army conscription are factors of great importance which are working for fusion. But, in the country districts and in those places where the error has been committed of permitting the formation of settlements, homogeneous in race and religion, which regard themselves as autonomous offshoots of their mother country, resisting the Argentine school or any intermingling with the mass of neighboring population--in such districts, the fusion, though inevitable, will be necessarily slower. All these sociological problems might and should have been exhaustively studied in the history of the United States during the nineteenth century, a history which, as I have said, the Argentine Republic is repeating in the twentieth. Foreign immigration at this time has no outlet more profitable than the River Plate. The doors of North America are gradually being closed, and the other regions do not yet present the same advantages as those offered by our country. The same thing that happens with the excess of population of other nations also occurs with its surplus capital; no other quarter of the globe offers better prospects for the investment of capital and for a greater rate of return. The "manifest destiny" of Argentine depends for the present entirely upon the development of its commercial relations with the rest of the world. It must convert itself into the granary and the meat market of Europe.