ARGENTINE REPUBLIC. 



19 



has been arranged. Our limits question with Para- 

 guay is being arbitrated on at Washington. His 

 Holiness Pius IX. is dead. During a troubled 

 reign he never lost his saintly character or the re- 

 spect of mankind. The Argentine Government and 

 the Church are now in relation with his successor, 

 Leo XIII. 



Messrs. Senators and Deputies,-! am about to con- 

 clude. The conciliation of parties, the centenary 

 of San Martin, the treaty with Chili, the entrance of 

 the republic into the Berne league, the frontiers, and 

 a reduction in the national expenditure are the chief 

 points in this message. But I must likewise note 

 the revival of business, and the increase of revenue 

 and immigration; yet these will prove illusory 

 unless public opinion uproot abuses, promote useful 

 reforms, and, within legal limits, show Governments 

 the path they must take. 



1 shall act impartially, without fear or favor, in any 

 party conflicts that may arise. It is my duty to do 

 so. I implore the help of Providence for your de- 

 liberations, and declare the session opened. 



N. AVELLANEDA. 



The following table presents the estimated 

 expenditure and revenue for the fiscal year 



1878-79 : 



Estimated Expenditure : 



Ministry of the Interior $1,939,427 



Ministry of Foreign Affairs 105,480 



Ministry of Finance 914,707 



Ministry of Justice and Public Instruction 1,150,428 



Ministry of War and Marine 5,103,629 



Interest on debt 7,979,613 



Total $17,193^284 



The revenue is estimated at 16,870,000 



Deficit $323,284 



The national revenue and expenditure for 

 the eight years 1872-'79 were as follows : 



The public debt is set down, in the Presi- 

 dent's message, at $61,277,802, from which 

 may be deducted the amortization fund, 

 amounting to $3,333,303 in December, 1877. 



In view of a possible conflict between Chili 

 and the Argentine Republic, it may be not un- 

 interesting to exhibit their relative financial 

 positions in 1877 : 



The trade returns t and the duties collected 

 on imports in 1875, 1876, and 1877, were as 

 follows : 



* Estimated. 



t For important remarks on the true sources and destina- 



This shows in three years a balance of trade 

 in favor of the country of $10,275,656. 



There has been an almost uninterrupted 

 improvement in the balance of trade ever since 

 1870. 



The exports in 1877 consisted principally of 

 wool, tallow, hides, etc., in quantity and value 

 as follows : 



The following table exhibits the imports 

 from and exports to the United States for 

 the twenty-one years 1857-'77 : 



American manufacturers have lately shown 

 a great desire to extend their trade in South 

 America. An Argentine journal states that 

 an American agent who visited Buenos Ayres 

 as the representative of a number of manu- 

 facturing firms of Philadelphia, New York, 

 and other American cities, has returned to 

 the United States well satisfied with the re- 

 sults of his canvass. " He has been literally 

 overwhelmed with orders, and looks forward 

 with confidence to permanent and profitable 

 trading relations with the Eiver Plate." 



The subjoined report of the cost and profits 

 of the Argentine railways for the year 1877 is 

 from official sources : 



tion of merchandise shipped from and to the Argentine Ke 

 public, see "Annual Cyclopaedia " for 1877, p. 33. 



