Three weary years of mediation by representatives of the U. S. and five South American nations last week ended. At Buenos Aires a peace agreement was reached, officially closing the 1932-35 war between Paraguav and Bolivia over the steamy, sumpy Gran Chaco region. Within the red stone walls of the Argentine Government's Casa Rosada, the Foreign Ministers of Paraguay and Bolivia advanced to a huge oval table, formally scratched their signatures to a peace treaty. "Peace between the Republics of Paraguay and Bolivia is re-established," read Article I.

Far from being the final...

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