AHC: Spain keeps as many Latin American Colonies as possible

keeping spanish control of any part of the americas requires 2 things: outside help and greater spanish attention.

Portugal offered a little help and actually kept Uruguay in spanish hands for a very brief while. The spanish, correctly, quickly worried that Portugal was more interested in taking over than in helping, and told them to stop helping. Argentina came within a hair of losing the independence battle. with a little real help, the spanish could have held on there and in uruguay, and paraguay, and that would go a long way to holding on in chile and upper peru.

Spanish attention: one large complaint in the la plata regions was that Spain was big on calling it spanish while not giving it much guidance or assistance. The colonists figured out that if the boss wasn't helpful, might as well give him the boot. There was a lot of royalist sentiment and several ideas of creating a crown in the la plata/upper peru regions. One of the crown princes was offered the crown in the 1810ish timeframe, but declined. IMO, if there were any takers, a spanish crown could have been established with domain over the area of argentina, uruguay, paraguay, peru, bolivia, and chile.
 
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