The article analyses social and political conflict in Chile during the agrarian reform period of the 1960s and 1970s through a case study of the province of Cautín, in the indigenous heartlands of the south. Using a combination of written and oral sources, it analyses the responses and strategies of landowners descended from nineteenth-century settlers to the emancipatory projects carried out during the presidencies of Eduardo Frei and Salvador Allende. In the context of an increasingly radicalised agrarian reform programme and a growing number of territorial conflicts with the Mapuche communities, this little-studied political actor developed a collective identity, an ideological discourse and a readiness to use violence which provides important insights into the causes of the military coup carried out in 1973.

It has often been argued that large landowners formed the core of the Buenos Aires' economic elite during the first half of the nineteenth century. According to this interpretation, the crisis of independence forced the colonial wealthiest capitalists to move from commerce to ranching, which soon emerged as the elite's major source of income. The evidence produced in this article suggests that this interpretation requires revision. Analysis of sucesiones (probate records) for a sample of fifty of Buenos Aires' largest capitalists of the central decades of the XIXth century indicates that, rather than concentrating on rural production, wealthy porteños sought to diversify their assets. This article suggests that this pattern on investment emerged as a result of businessmen's attempts to cope with economic and political instability.