BOLIVIA-PARAGUAY: Peace Without Victory

Peace Without Victory

Practically unnoticed by the U. S., a wave of clear delirious joy last week swept the entire southern half of the Western Hemisphere. The great Latin American States of Argentina, Brazil and Chile declared national holidays. In half a dozen capitals the voice of the crowd rang out in the winter air, "Firmose la paz," "The peace is signed." The bloody, three-year Gran Chaco war between Bolivia and Paraguay was over.

When the Spanish and Portuguese South American Empires broke up into great modern states in the early 19th...

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