Bankers and Investors
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British-built railways dominate this chapter from their beginnings in the early 1860s to their rapid growth in the 1880s. Efforts to capture British capital investment from the late 1870s in Argentina form a second major topic: the government paid its foreign debt, suppressed provincial rebellions and opened up enormous new territories in southern Argentina to settlers and railways. The “Baring Crisis” of 1890 is a third major topic, an issue developing during the 1880s as a result of a speculative excess of British investment and a policy of cheap paper money by Argentine governments. The chapter describes the way attempts to intensify economic growth ended in calamitous collapse.