The seat of provincial authority was transferred to the village of Ensenada, which thereupon was rechristened La Plata.
A veritable tide of wealth and general prosperity was now rolling over Argentina.

By 1885 its population had risen to upwards of 3,000,000.
Immigration increased to a point far beyond the wildest expectations.
In 1889 alone about 300,000 newcomers arrived and lent their aid in the promotion of industry and commerce.

Fields hitherto uncultivated or given over to grazing now bore vast crops of wheat, maize, linseed, and sugar.

Large quantities of capital, chiefly from Great Britain, also poured into the country.

As a result, the price of land rose high, and feverish speculation became the order of the day.