0 0 0 ▁people . ▁ ▁In ▁the ▁ 1 8 7 0 s ▁real ▁w ages ▁in ▁Argentina ▁were ▁around ▁ 7 6 % ▁relative ▁to ▁Britain , ▁rising ▁to ▁ 9 6 % ▁in ▁the ▁first ▁de cade ▁of ▁the ▁ 2 0 th ▁century . ▁G DP ▁per ▁cap ita ▁rose ▁from ▁ 3 5 % ▁of ▁the ▁United ▁States ▁average ▁in ▁ 1 8 8 0 ▁to ▁about ▁ 8 0 % ▁in ▁ 1 9 0 5 , ▁similar ▁to ▁that ▁of ▁France , ▁Germany ▁and ▁Canada . ▁▁ 1 8 7 0 – 1 8 9 0 ▁ ▁In ▁ 1 8 7 0 , ▁during ▁S arm iento ' s ▁presiden cy , ▁total ▁deb t ▁amount ed ▁to ▁ 4 8 ▁million ▁gold ▁pes os . ▁A ▁year ▁later , ▁it ▁had ▁almost ▁double d . ▁Av ellan eda ▁became ▁president ▁after ▁winning ▁the ▁ 1 8 7 4 ▁president ial ▁election . ▁The ▁coal ition ▁that ▁supported ▁his ▁candid ature ▁became ▁the ▁Partido ▁Aut onom ista ▁Nacional , ▁Argentina ' s ▁first ▁national ▁party ; ▁all ▁the ▁pres idents ▁until ▁ 1 9 1 6 ▁would ▁come ▁from ▁this ▁party . ▁Av ellan eda ▁under to ok ▁the ▁t ough ▁actions ▁needed ▁to ▁get ▁the ▁deb t ▁under ▁control . ▁In ▁ 1 8 7 6 ▁convert ibility ▁was ▁susp ended . ▁The ▁infl ation ▁rate ▁rose ▁to ▁almost ▁ 2 0 % ▁in ▁the ▁following ▁year , ▁but ▁the ▁ratio ▁of ▁deb t