Eduardo Madero
Encyclopedia
Eduardo Madero was an Argentine merchant, banker and developer.
, in 1823, to a family of farmers. A nephew of publisher Florencio Varela
, his uncle's enmity with the Governor of Buenos Aires Province
, Juan Manuel de Rosas
, led Madero to relocate to Montevideo
, in neighboring Uruguay
. Madero established an import-export business and following Rosas' 1852 overthrow, he returned - by then a prosperous merchant. Madero was later elected to local office, as well as to the Argentine Chamber of Deputies
as a supporter of the Buenos Aires-centric Autonomist Party. He served as President of the Bank of the Province of Buenos Aires
and, in 1874, the Buenos Aires Stock Exchange
.
Madero twice proposed the construction of a port facing the Plaza de Mayo
, in 1861 and 1869; but the proposals, the second of which obtained the Interior Ministry's endorsement, were ultimately passed over for a design by local engineer Luis Huergo
, whose plans called for a dock on the mouth of the Riachuelo (a river flowing along the city's industrial southside). Following the construction of the Port of La Boca
, in the 1870s, a sudden economic and population boom led the new President of Argentina, Julio Roca, to commission the development in 1881 of a new, much larger port. The Director of Riachuelo Works, Luis Huergo, presented plans of his own design for a port of staggered docks, rather like the bittings on a key. The seasoned Madero, however, treveled to London
, where he obtained both the services of renowned British engineer Sir John Hawkshaw
and financing for the project from Barings Bank
(the chief underwriter of Argentine bonds and investment, at the time).
The plan was presented to Congress in June 1882, where it received the endorsement of Senator Carlos Pellegrini
(one of the Senate's most powerful figures). It was approved by both houses in October 1882, and Madero was entrusted not only with overseeing the completion of Sir John Hawkshaw's design of adjoining impounded docks; but also with negotiating the necessary financing of the project. The first dock was opened in 1889 and, as work continued northward, the second one was opened in 1890. The Panic of 1890
, however, led to the suspension of works, a setback remedied by a congressional appropriation in 1892. The resulting political controversy helped result in Madero's relocation to Genoa
, Italy
, where he died in 1894 at the age of 71.
The construction of the port outlived Madero, and the project was completed in 1897. Outstripped by rising shipping volume and freighter sizes even before its completion, in 1911 Madero's port was supplemented by new facilities
of Huergo's design. Madero's History of the Port of Buenos Aires was published posthumously by La Nación
, in 1902. The docklands he developed were renamed Puerto Madero
in his honor and, beginning in the mid-1990s, were redeveloped as Buenos Aires' newest neighborhood.
Life and times
Eduardo Madero was born in Buenos AiresBuenos Aires
Buenos Aires is the capital and largest city of Argentina, and the second-largest metropolitan area in South America, after São Paulo. It is located on the western shore of the estuary of the Río de la Plata, on the southeastern coast of the South American continent...
, in 1823, to a family of farmers. A nephew of publisher Florencio Varela
Florencio Varela (writer)
Florencio Varela was an Argentine writer, poet, journalist and educator.Florencio was born in Buenos Aires on February 23 1808, he was the sixth child of Don Jacobo Adrián Varela and María de la Encarnación Sanjinés, he had a keen interest in the literary arts from a young age...
, his uncle's enmity with the Governor of Buenos Aires Province
Buenos Aires Province
The Province of Buenos Aires is the largest and most populous province of Argentina. It takes the name from the city of Buenos Aires, which used to be the provincial capital until it was federalized in 1880...
, Juan Manuel de Rosas
Juan Manuel de Rosas
Juan Manuel de Rosas , was an argentine militar and politician, who was elected governor of the province of Buenos Aires in 1829 to 1835, and then of the Argentine Confederation from 1835 until 1852...
, led Madero to relocate to Montevideo
Montevideo
Montevideo is the largest city, the capital, and the chief port of Uruguay. The settlement was established in 1726 by Bruno Mauricio de Zabala, as a strategic move amidst a Spanish-Portuguese dispute over the platine region, and as a counter to the Portuguese colony at Colonia del Sacramento...
, in neighboring Uruguay
Uruguay
Uruguay ,officially the Oriental Republic of Uruguay,sometimes the Eastern Republic of Uruguay; ) is a country in the southeastern part of South America. It is home to some 3.5 million people, of whom 1.8 million live in the capital Montevideo and its metropolitan area...
. Madero established an import-export business and following Rosas' 1852 overthrow, he returned - by then a prosperous merchant. Madero was later elected to local office, as well as to the Argentine Chamber of Deputies
Argentine Chamber of Deputies
The Chamber of Deputies is the lower house of the Argentine National Congress. This Chamber holds exclusive rights to create taxes, to draft troops, and to accuse the President, the ministers and the members of the Supreme Court before the Senate....
as a supporter of the Buenos Aires-centric Autonomist Party. He served as President of the Bank of the Province of Buenos Aires
Bank of the Province of Buenos Aires
The Bank of the Province of Buenos Aires is a publicly-owned Argentine bank and the second-largest in the nation, by value of assets and deposits.-History:...
and, in 1874, the Buenos Aires Stock Exchange
Buenos Aires Stock Exchange
The Buenos Aires Stock Exchange is the organization responsible for the operation of Argentina's primary stock exchange located at Buenos Aires CBD. Founded in 1854, is the successor of the Banco Mercantil, created in 1822 by Bernardino Rivadavia.Citing BCBA's self definition: "It is a...
.
Madero twice proposed the construction of a port facing the Plaza de Mayo
Plaza de Mayo
The Plaza de Mayo is the main square in downtown Buenos Aires, Argentina. It is flanked by Hipólito Yrigoyen, Balcarce, Rivadavia and Bolívar streets....
, in 1861 and 1869; but the proposals, the second of which obtained the Interior Ministry's endorsement, were ultimately passed over for a design by local engineer Luis Huergo
Luis Huergo
Luis Augusto Huergo was an Argentine engineer prominent in the development of his country's ports.-Early career:...
, whose plans called for a dock on the mouth of the Riachuelo (a river flowing along the city's industrial southside). Following the construction of the Port of La Boca
La Boca
La Boca is a neighborhood, or barrio of the Argentine capital, Buenos Aires. It retains a strong European flavour, with many of its early settlers being from the Italian city of Genoa. In fact the name has a strong assonance with the Genoese neighborhood of Boccadasse , and some people believe that...
, in the 1870s, a sudden economic and population boom led the new President of Argentina, Julio Roca, to commission the development in 1881 of a new, much larger port. The Director of Riachuelo Works, Luis Huergo, presented plans of his own design for a port of staggered docks, rather like the bittings on a key. The seasoned Madero, however, treveled to London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, where he obtained both the services of renowned British engineer Sir John Hawkshaw
John Hawkshaw
Sir John Hawkshaw , was an English civil engineer.-Early life:He was born in Leeds, Yorkshire and was educated at Leeds Grammar School...
and financing for the project from Barings Bank
Barings Bank
Barings Bank was the oldest merchant bank in London until its collapse in 1995 after one of the bank's employees, Nick Leeson, lost £827 million due to speculative investing, primarily in futures contracts, at the bank's Singapore office.-History:-1762–1890:Barings Bank was founded in 1762 as the...
(the chief underwriter of Argentine bonds and investment, at the time).
The plan was presented to Congress in June 1882, where it received the endorsement of Senator Carlos Pellegrini
Carlos Pellegrini
Carlos Enrique José Pellegrini Bevans was President of Argentina from 6 August 1890 to 12 October 1892....
(one of the Senate's most powerful figures). It was approved by both houses in October 1882, and Madero was entrusted not only with overseeing the completion of Sir John Hawkshaw's design of adjoining impounded docks; but also with negotiating the necessary financing of the project. The first dock was opened in 1889 and, as work continued northward, the second one was opened in 1890. The Panic of 1890
Panic of 1890
The Panic of 1890 was an acute depression, although less serious than other panics of the era. It was precipitated by the near insolvency of Barings Bank in London. Barings, led by Edward Baring, 1st Baron Revelstoke, faced bankruptcy in November 1890 due mainly to excessive risk-taking on poor...
, however, led to the suspension of works, a setback remedied by a congressional appropriation in 1892. The resulting political controversy helped result in Madero's relocation to Genoa
Genoa
Genoa |Ligurian]] Zena ; Latin and, archaically, English Genua) is a city and an important seaport in northern Italy, the capital of the Province of Genoa and of the region of Liguria....
, Italy
Italy
Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
, where he died in 1894 at the age of 71.
The construction of the port outlived Madero, and the project was completed in 1897. Outstripped by rising shipping volume and freighter sizes even before its completion, in 1911 Madero's port was supplemented by new facilities
Port of Buenos Aires
The Port of Buenos Aires is the principal maritime port in Argentina. Operated by the Administración General de Puertos , a State enterprise, it is the leading transshipment point for the foreign trade of Argentina....
of Huergo's design. Madero's History of the Port of Buenos Aires was published posthumously by La Nación
La Nación
La Nación is an Argentine daily newspaper. The country's leading conservative paper, the centrist Clarín is its main competitor. It is the only newspaper in Argentina still published in broadsheet format.-Overview:...
, in 1902. The docklands he developed were renamed Puerto Madero
Puerto Madero
Puerto Madero, also known within the urban planning community as the Puerto Madero Waterfront, is a barrio of the Argentine capital at Buenos Aires CBD, occupying a significant portion of the Río de la Plata riverbank and representing the latest architectural trends in the city of Buenos...
in his honor and, beginning in the mid-1990s, were redeveloped as Buenos Aires' newest neighborhood.