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World War II and the Frustrated Nationalizaion of the Argentine British-Owened Rail ways, 1939–1943*

Published online by Cambridge University Press:  05 February 2009

Raul Garcia Heras
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Extract

The outbreak of World War II prompted repeated optimistic forecasts about the future of Argentina's economy in Britain. The South American Journal predicted higher prices for wheat, corn and linseed in world markets while The Times noted that after the 1937–8 crisis Argentina's balance of payments and exchange position were improving. Both publications hinted that this presaged better times ahead for the Argentine.

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Articles
Information
Journal of Latin American Studies , Volume 17 , Issue 1 , May 1985 , pp. 135 - 155
Copyright
Copyright © Cambridge University Press 1985

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References

1 This crisis began in the second half of 1937. Winter droughts, spring frosts, repeated locust invasions and further droughts during the 1937–1938 Argentine summer produced poor grain harvests. Added to these calamities, due to a commensurate fall in world markets, agrarian internal market prices slumped, reducing the tonnage and value of Argentina's exports by 50% and 39.4% respectively. Finally, the inevitable deficits in Argentina's balance of payments were aggravated because her imports remained relatively stable while substantial foreign capital and floating funds flocked out of the country from late 1937 to November 1938.

2 The South American Journal (23 09 1939), p. 283; The Times (9 11 1939), p. 13.Google Scholar

3 The Times (10 11 1939), p. 14.Google Scholar

4 See Revista de Economía Argentina (08 1943), p. 334; Boletín de Informaciones Petroleras (09 1940), p. 49 and (09 1941), p. 272–85.Google Scholar

5 Norberto, Alvarez and Graciela, Malgesini, Cereales y combustibles. Problemas de la economia argentina durante la Segunda Guerra Mundial (Buenos Aires, 1982), p. 19;Google ScholarCarlos, Escudé, Gran Bretaña, Estados Unidos y la declinación argentina, 19427–1949 (Buenos Aires, 1983), pp. 272–85.Google Scholar

6 Such a denomination was used when referring collectively to the major companies: the Buenos Ayres Great Southern, the Buenos Ayres Western, the Central Argentine and the Buenos Ayres and Pacific.

7 See The South American Journal (31 01 1941), p. 85 and (24 01 1945), p. 58.Google Scholar

8 Eddy to Follet, Holt, ‘Confidential’, Buenos Aires, 11 10 1938. (London, Public Record Office, Foreign Office Archive, Argentina, F.O. 371, hereinafter cited as F.O. 371) A8122/24/2; F.O. 371 A5690/24/2 (1938); Ovey to Balfour, ‘Private’, Buenos Aires, 29 Oct. 1938, F.O. 371 A8306/24/2; Memorandum of the interview of John M. Eddy and Luis O'Farrell with President Roberto M. Ortiz on 30 November 1938, F.O. 371 A9410/24/2.Google Scholar

9 Owen, to Balfour, , London, 15 01 1940, F. O. 371 A150/21/2; Banco Central de la República Argentina, Memoria anual correspondiente a 1939, pp. 8–10.Google Scholar

10 This treaty had established that £1.5 million would be deducted annually from the amount of Argentina's annual exports to the United Kingdom to allow the normal service of her public debt outside the sterling bloc.

11 Banco Central de la República Argentina, Memoria…1940, p. 8; Memoria…1941, pp. 10Google Scholar and Foreign Office Minute by Victor, Perowne, London, 18 03 1940,Google Scholar F.O. 371 A2317/20/2; Viscount Halifax to Ovey, , London, 26 02 1940, F.O. 371 A1469/20/2.Google Scholar

12 See Mario, Rapoport, Gran Bretaña, Estados Unidos y las clases dirigentes argentinas, 1940–1941 (Buenos Aires, 1981), pp. 282–6Google Scholar and Escudé, , Gran Bretaña, Estados Unidos y la declinación argentina, pp. 78–83.Google Scholar

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15 Winthrop, Wright, British-owned railways in Argentina, 1854–1948 (Austin, 1974), p. 222.Google Scholar

16 Norman to Sir Richard, Hopkins, London, 20 09. 1940, F.O. 371 A436/139/2; Waley to Harcourt Johnstone, London, II 10 1940, F.O. 371 A4506/139/2.Google Scholar

17 John, Balfour's comment, London, 19 10 1940, F.O. A4365/139/2.Google Scholar

18 El Plan de Reactivación Económica ante el Honorable Senado’, Desarrollo Económico (10–12. 1979), p. 422.Google Scholar

19 La Prensa (17 Dec. 1940), p.11.

20 Cámara de Senadores de la Nación, Diario de sesiones, 17 and 18 12 1940, p. 417; La Prensa (18 12 1940), p. 15;Google ScholarWright, , British-owned Railways in Argentina, 1854–1948, pp. 227–8.Google Scholar

21 La Prensa 23 12 1940, p. 10.Google Scholar

22 Lothian to Foreign Office, Washington D.C. 26 11 1940 and Butler to Foreign Office, Washington D.C., 16 12 1940, F.O. 371 A4829/18/51; minute by Neville Butler, London, 23 01 1941, F. O. 371 A448/159/2.Google Scholar

23 Banco Central de la República Argentina, Memoria…1940, pp. 11–12; minute by Sir Edward Mather-Jackson, London, 19 01 1941;Google ScholarEddie, to Bewley, , Washington D.C., 24 1941, F.O. 371 A448/159/2; Hadow to Foreign Office (telegram), Buenos Aíres, 18 Jan. 1941, F.O. 371 A194/79/2.Google Scholar

24 F.O. 371 A125/125/2 (1941).

25 Foreign Office to Ovey. London 21 Mar. 1941, F.O. 371 A125/125/2.

26 Meynell to Bank of England, 21 Apr. 1941, F.O. 371 A2905/1/2.

27 Foreign Office to British embassy in Buenos, Aires, London, 20 05 1941, F.O. 371 A2905/1/2.Google Scholar

28 Meynell to Treasury and Bank of England, Buenos, Aires, 3 06 1941, F.O. 371 A4253/1/2.Google Scholar

29 British embassy to Foreign Office, (telegram), Buenos, Aires, 20 09 1941, F.O. 371 A766/1/2; Ovey to Eden, Buenos Aires 15 10 1941, F.O. 371 A8320/1/2.Google Scholar

30 South American Committee meeting dated 9 10 1941,Google Scholar F.O. 371 A8505/1/2; minute by Sir, Edward Mather-Jackson, London, 20 10 1941, F.O. 371 A8459/1/2; Foreign Office to British embassy in Buenos, Aires, London, 20 10 1941, F.O. 371 A8223/125sol;2.Google Scholar

31 Ovey to Foreign Office, Buenos, Aires, 12 12 1941, F.O. 371 A409/159/2.Google Scholar

32 Foreign Office to British embassy in Buenos, Aires, London, 2 01 1942, F.O. 371 A10194/125/2; British embassy to Foreign Office, (telegram), Buenos Aires, 12 01 1942, F.O. 371 A489/159/2; Foreign Office to British embassy (telegram), London, Apr. 1942, F.O. 371 A3460/159/2.Google Scholar

33 Ovey to Foreign Office, Buenos, Aires, 12 01 1942, F.O. 371 A490/159/2.Google Scholar

34 Nosworthy, to Perowne, , London, 24 02 1942;Google ScholarFraser, to Perowne, , London, 27 02 1942 and interdepartmental meeting held on 6 03 1942, F.O. 371 A1925/647/2.Google Scholar

35 Ovey to Foreign Office (telegram), Buenos, Aires, 19 03 1942, F.O. 371 A2737/647/2.Google Scholar

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37 See Rapoport, , Gran Bretaña, Estados Unidos y las clases dirigentes argentinas, pp. 248–51 and 279–86;Google ScholarEscudé, , Gran Brefaña, Estados Unidos y la declinación Argentina, pp. 253–305;Google ScholarMacdonald, C. A., ‘The Politics of Intervention: the United States and Argentina, 1941–1946,’ Journal of Latin American Studies, vol. 12 (1980), pp. 365–74.CrossRefGoogle Scholar

38 Foreign Office memorandum, London 9 July 1942, F.O. 371 A6618/23/2.

39 Foreign Office memorandum by Victor, Perowne, London, 22 08 1942, F.O. 371 A397 1/23/2.Google Scholar

40 On 21 June, 1942 Sir David Kelly succeeded Sir Esmond Ovey as British ambassador in Buenos Aires.

41 Kelly, to Eden, , Buenos, Aires, 4 12 1942, F.O. 371 A105/105/2; Kelly, to Perowne, , Buenos, Aires, 9 12 1942, F.O. 371 A11866/647/2.Google Scholar

42 Kelly, to Foreign Office, Buenos, Aires, 17 12 1942Google Scholar and Foreign Office to British embassy in Buenos, Aires (telegram), London, 22 12 1942, F.O. 371 A11775/647/2.Google Scholar

43 Perowne, to Waley, , London, 21 12 1942, F.O. 371 A11478/647/2.Google Scholar

44 Niemeyer, to Perowne, , London, 28 12 1942, F.O. 371 A12022/647/2.Google Scholar

45 Edgcumbe, to Perowne, , London, 29 12 1942, F.O. 371 A12080/647/647/2.Google Scholar

46 Foreign Office minute by Sir, John David Scott, London, 19 12 1942, F.O. 371 A2088/105/2.Google Scholar

47 This committee was the equivalent of one formed in Buenos Aires in 1936 by the managers and local directors of the British-owned companies to protect British railway interests in Argentina. See Cohn, M. Lewis, ‘British Railway Companies and the Argentine Government’ in Platt, D. C. M. (ed.), Business Imperialism, 1840–1930 (Oxford, 1979), p. 401.Google Scholar

48 Memorandum by the major British railways on the railway situation in Argentina, London, 25 Feb. 1942, F.O. 371 A2088/105/2; see the comments by Sir Edward Mather-Jackson.

49 Mather-, Jackson to Young, , London, 20 03 1943, F.O. 371 A2702/105/2.Google Scholar

50 Young, to Mather, Jackson, London, 1 04 1943, F.O. 371 A3136/105/2.Google Scholar

51 Kelly to Foreign Office (telegram), Buenos, Aires, 2 04 F.O. 371 A3213/105/2.Google Scholar

52 Minute of the interdepartmental meeting held at the Treasury, London, 14 Apr. 1943, F.O. 371 A3661/105/2.

53 Foreign Office to British embassy in Buenos, Aires, London, 7 06 1943, F.O. 371 A5403/170/2; Kelly to Foreign Office (telegram), Buenos Aires, 9 June 1943, F.O. 371 A5503/170/2.Google Scholar

54 Lord, Davidson to Sir, John Simon, ‘confidential’, London, 10 11 1938 and Simon, to Davidson, , London, 28 11 1938, F.O. 371 A8854/24/2.Google Scholar

55 Perowne, to Waley, , London, 21 12 1942, F.O. 371 A11478/647/2.Google Scholar

56 This was acknowledged by the local railway managers in their annual reports and by the London board chairmen at the annual general meetings of shareholders.

57 See Alberto Hueyo, ‘Problemas de la postguerra. Los planes Morgenthau y Keynes’, La Prensa (21 May 1943), p. 7 and Justiniano A. Posse, ‘Nacionalización de los servicios públicos’, La Nación (31 Aug 1943), p. 4 and (1 Sept 1943), p. 4.