Abstract

The Argentine Credit

The article analyzes credit and loans of Argentine Republic and compares it with some other countries. So long as a nation's credit is so good that its loans need no special hypothecation, it can escape external control. When special revenues are mortgaged, the mortgagee has an obvious right over them, over their collection and administration. Such has been the case in Egypt and in Turkey. Things have not come to this extremity in Argentine Republic. The Argentina Republic has so far made loans solely on the strength of its credit and its general resources are the only guarantee for the payment of the interest. It is difficult to see what European commission could do. It could not replace the Argentine administration of the general resources of the country.