16 Report of Schimmel 3 Co. April 1913. 



has increased in the years 1910 to 1911 by about 325 p.c. and at the close of 1911 

 represented the imposing total of £ 20767860. This is surely the best evidence of 

 the confidence which is felt in the development of this country of enormous natural 

 riches. 



The favourable economic condition of the Argentine Republic throughout the past 

 year has naturally contributed to an extremely brisk demand for our manufactures, 

 the sale of which is chiefly determined by the demand for luxuries. Hence the value 

 of our exports to this market, where competition is very keen, has risen considerably. 

 We expressly lay stress upon this fact, because the trade-statistics for 1912 show a 

 falling-off in the total value of all German exports to Argentina of about 2 million 

 Pesos gold. Germany, it is true, still occupies, after the United Kingdom, the principal 

 place among the countries that supply the Argentine, but unless ways and means are 

 found to arrest the retrogression in German exports to this market, the United States 

 will soon dispute Germany her position among the importing countries. We are unable 

 to form an opinion of the causes of the decline. The total value of the imports into 

 and exports from Argentina in 1912 reached $ 865244 725 gold, exceeding that of 1911 

 by $173 736501 gold, equal to over 25 p.c. 



The rapid and steady increase of the foreign trade of Argentina is clearly shown 

 in the subjoined table giving the value of the imports and exports during the last 

 decade. 



Imports Exports 



$ Gold $ Gold 



1903 131206 600 220 984 524 



1904 187 305 969 264 157 525 



1905 205154 420 322 843 841 



1906 269 970 521 292 253 829 



1907 285 860 683 296 204 369 



1908 272 972 830 366 005 341 



1909 302 756 095 397 350 528 



1910 351770 656 372 626 055 



1911 366 810 686 324 697 538 



1912 384 853 469 480 391256 



In February of this year the promulgation of a new law imposing taxation upon 

 put-up medicinal preparations and upon perfumes provoked a protest by the pharmacists 

 and druggists of Buenos Aires. This movement of protest culminated into something 

 like a strike, about 400 out of a total of 420 shops being closed down by the pro- 

 prietors after the Government had declined to listen to their representations. The 

 Government thereupon took steps to organise the sale of remedies through the Depart- 

 ment of Public Health and began to consider coercive measures against the pharma- 

 cists on strike, but in the end the authorities were compelled to give way, and to 

 announce that the coming into force of the law would be postponed for the time 

 being. The law compels the importer 'to pay a tax upon every one of his innumerable 

 medicinal preparations and perfumes according to their price to the public. The tax 

 therefore varies, and is determined by the retail selling price. Every business man 

 will agree that in view of the many thousand of trifling commodities affected, such 

 a scheme is impossible of execution. One retail tradesman sells a given article at a 

 certain price, another tradesman sells the same article at a different price, according 

 to his dead charges or the character of his customers. Therefore the scheme would 

 be a permanent source of claims and penalties, even if the importers were acting 



