v __ 168 



elevators, and, finally backed by financial houses, these 

 were induced to study the matter and make their propo- 

 sals. Three such proposals were presented to the Gov- 

 ernment, one offering to build the necessary installations 

 for account of the State, on long terms of credit, and 

 when completed to leave their working to the State, 

 another more practical offering to build and run th& 

 whole system for a term of years sufficient to allow the 

 building up of a competent staff of technical advisers 

 and managers, and then leave them to the State to pur- 

 chase with option to continue, and a third offering to 

 construct them and work them with the State as sleep- 

 ing partner. 



The first proposition required definite payment from 

 the 'State as the work proceeded, the second required no 

 immediate contribution from the State, except a certain 

 guaranteed interest on the capital invested, similar to 

 that accorded the railways at the beginning, and the 

 third nothing at all from the State. 



f STATE PARTICIPATION. 



* 



The following explanations were offered as to the 

 working and the economies to be expected from the cons- 

 truction of the Elevators by the party disposed to invert 

 at once some $50,000,000 in building and working them, 

 and who required the State to guarantee an interest on 

 the preliminary capital inverted during the first years 

 of the undertaking, and, in consideration of the said 

 guarantee, the State was to participate in the profits of 

 the undertaking to the extent- of one third. Although 

 the contracting party distinctly announced the intention 

 was not to trade in cereals, but to limit the operations to 

 classifying, depositing and emitting warrants on graiiv 

 the State was promised a probable remuneration of about 

 6 per cent, interest on the investment after the first two 

 or three years of preliminary trial-essaying and estab- 

 lishing the most appropiate system for the country's 

 needs . 



ELEVATOR CONDITIONS FOR THE 

 ARGENTINE REPUBLIC. 



Agriculture in the Argentine Republic struggles 

 against many of the evils inherent to the cultivation of 

 the land all over the world, and others besides, peculiar 

 to the country and no less serious but susceptible of 

 radical remedying. 



