S. AMERICAN PROSPERITY.
The speech made at last week's meeting of the Bank of London and South America Limited, by Mr. J. W. Beaumont Pease has served to draw attention—if such were necessary— to the continued prosperity of some of the South American Republics, and of Argentina in particular. Mr. Pease read a cable just received from the bank's representatives in Buenos Aires giving the latest reports as to crop prospects, and these were of a most encouraging character. Mr. Pease also referred to the substantial inflow of foreign capital into Brazil, for although the Monetary Reform Law in that country is not yet in full operation, its impending application, he said, had had the effect on the milreis of practical stabilization. Referring to the resumption of diplomatic relations between Chile and Peru after an interval of fifteen years, Mr. Pease stated that the year in Chile had been marked by great political tranquillity, while a favourable development in the country had been the improved position of the nitrate industry. * * * *
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