ARGENTINA: Friendship's End

For four years, suave, handsome José Maria de Areilza, Count of Motrico and Spanish Ambassador to Argentina, has been one of the most successful diplomats in Buenos Aires. A close friend of the President and la Señora, he was a prime mover in setting up the recent trade agreements that tied Spain and Argentina together economically.

In last year's agreement, Argentina granted Spain a five-year credit of 1,750,000,000 pesos ($353,500,000), gave Spain the right to sell practically all her surpluses in Argentina and promised to invest in Spanish industry. In return, Spain was to send ships, rail cars and machine...

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