_Joint-Stock Companies._——The development of joint-stock companies——Legislation affecting such companies——Abuses committed in the formation of such companies, due to speculation——Statistics of capital invested in joint-stock companies before and after the speculative crises of 1890—— Revival of such companies, in a sense more consistent with the development of the country.
The financial situation——Continual increase of national expenditure——Great and rapid progress since 1891—— Insufficiency of the means adopted to moderate this increase—— The Budget Extraordinary and the Special Legislation Budget.
Causes of this increase of national expenditure——The increase of administrative requirements caused by an increasing population; this is the most natural cause, and that most easily justified——Increase of the public debt——The intervention of the State as the promoter or guarantor of important public undertakings——Exaggerated military expenses.
The total sum of national, provincial, and municipal expenses. The proportion per inhabitant——Comparison with other foreign countries in the matter of administrative expenses.
The national revenue——The revenue as organised by the Constitution, and its analysis——Indirect taxation——The customs the chief source of revenue——Direct taxation; its origin in the Argentine; its justification; its yield—— Revenue of the industrial undertakings belonging to the State: railways, sewers, posts and telegraphs——The exploitation of the State lands.
Elasticity of the receipts, which follow the development and progress of the country——The accelerated increase of expenditure, and the resulting chronic deficit——Necessity of serious reforms.
Statistics of the public debt on the 1st January 1909——History of the public debt——The first loans.
The financial crisis——Consolidated loans——The Romero arrangement—— Loan for the redemption of guarantees——The internal public debt——The total of the Argentine public debt, and its annual cost in dividends and redemption——The proportion of financial charges as compared to other budgetary expenses.
The burden of the public debt is heavy, but not unduly heavy in relation to the productive power of the country——The necessity of restraining further issues and of converting old debts——The efforts of the Argentine to improve her credit.
