An item referred to the Mitteilingen a.d. Gebiete des Seewesens reporting that Argentine borrowed 32,5 million US dollars. For building 3 battleships, 9 destroyers and 21 torpedo boats was 29,5 million reserved. The remaining 3 million to which 2 million of the naval budged was added, was to be used for buying mines, floating batteries, flotilla vessels and transports.(1)
Note
1. Argentine, Brazil and Chile were involved in an arms race including the building of several dreadnoughts.
