RE: Re: The character of Argentine industrializatio n

["Davies, Daniel" <daniel.davies@xxxxxxxxxxxx>]

And ended in or around 1890, when the Argentine government defaulted on its
bonds and caused the First Baring Crisis.  NB that around this period, I
disagree that  British were very much in the business of sending gunboats to
enforce private debts; Sir John Simon issued the circular announcing the
"Palmerston Doctrine" in 1848:

"My predecessor in this post, Lord Palmerston, who cannot be regarded as
having been reticent in the defence of British interests, was of the opinion
that if investors choose to buy foreign bonds with a yield of 10 per cent
rather than British government bonds with a lower yield, they should not
expect as a matter of right that the British government would intercede on
their behalf in the event of a default"

dd

-----Original Message-----
From: Michael Perelman [mailto:michael@xxxxxxxxxxxxxxxxx]
Sent: 12 April 2002 16:39
To: pen-l@xxxxxxxxxxxxxxxxxxx
Cc: marxism@xxxxxxxxxxxxxxx; wsn@xxxxxxxxxxxxxxxx;
a-list@xxxxxxxxxxxxxxxxxxx; psn@xxxxxxxxxxxxxxxx
>Subject: [PEN-L:24860] Re: The character of Argentine industrialization


The big push for British financial investment in Latin America came after
the
early 1840s, when a number of states in the U.S. defaulted on their British
bonds, which have never been repaid.

--

Michael Perelman
Economics Department
California State University
michael@xxxxxxxxxxxxxxxxx
Chico, CA 95929
530-898-5321
fax 530-898-5901


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