South American Independence and Security for Investment
The author argues that English capital seeks secure returns from South American states under new independence. He notes Buenos Aires’ example of stable institutions after years of upheaval, and outlines four questions: de facto independence, risk of reconquest, local changes affecting national obligations, and South American means to meet engagements. He assesses Peru, Colombia, Chile, and Buenos Aires, positing independence is established and that Spain’s possible reconquest would still fail, favoring lending to the new states.
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