chapter  5
The years when Roca dominated politics
Pages 14

Julio Argentino Roca dominated the Argentine political scene from 1880 to 1906. There is no doubt that Roca and Vice-President Carlos Pellegrini were the architects of the impressive infrastructure development and frontier expansion that productively employed millions of immigrants. Between 1899 and 1914, 15 years of currency convertibility and full integration into the world economy, the economy grew as it had never grown before and at a much faster pace than any other country in the world. President Roca also created the first national currency, the peso moneda nacional. On the economic front, in November 1899 President Roca enacted the Law that implemented the Currency Board and restored the Gold Standard. The tough spending cutbacks during the presidency of Avellaneda opened the door for President Roca to create a new monetary system. Gold discoveries in the world were also generating international liquidity and inflation in the world economy.