CONDITIONS IN SOUTH AMERICA.
As in the case of English banking, the annual meetings- of the big banks in January are interesting by reason of the expo- sition which is then given by experts with regard to general financial conditions in this country, so the annual meeting of the Anglo-South American Bank has come to be regarded as an occasion when the views of experts are heard concerning &editions in South America. Moreover, the of the bank, Mr. R. J. Hose, has deservedly won for himself a high reputation in everything pertaining to the success of the Anglo-South American Bank, while his views concerning inter- national finance, and South American conditions in particular, have long commanded attention in financial circles. After a brief but hopeful reference to conditions at home, Mr. Hose at last Tuesday's meeting of the Anglo-South American Bank was able to refer in thoroughly optimistic terms to the recuper- ative power of Argentina. He explained that the total tonnage of grain shipped from that country in the first eight months of this year had surpassed all previous records, and it looks as though the year would close with an excess of visible exports ranking among the highest recorded in the Republic's history.' Mr. Hose was also able' to refer in favourableterms to the recent return of Argentina to the gold standard and the realized surpluses in the National Accounts.
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