Would Latin America be better off under continued Spanish rule?

Let's say eventually, the four Viceroyalties are made into something more resembling of British Dominions. A century of stability in the 19th, without the bloody and exhausting wars of OTL (recall the Paraguayan War where 90% of its male population was killed off), might be enough to ensure economic and political development. Maybe the independence movements were a gross miscalculation?
 
Let's say eventually, the four Viceroyalties are made into something more resembling of British Dominions. A century of stability in the 19th, without the bloody and exhausting wars of OTL (recall the Paraguayan War where 90% of its male population was killed off), might be enough to ensure economic and political development. Maybe the independence movements were a gross miscalculation?

The Dominion system worked because, unlike Spain, Great Britain was not a moribund country just barely keeping it's shit together in the 19th century. You're asking Latin America, full of countries overflowing with natural resources, and urbanized to a larger extent than Anglo-America, to keep their boats tied to one that's constantly trying to patch up a newly formed hole.
 
Well, if southern planters are still around, US would be not so different from Latin America, you have to get rid of "landed aristocrats taking it all system" to start with.
 
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