Key Historical Events. France established a settlement in 1764 and Britain a second settlement in 1765. In 1770 Spain bought out the French and drove off the British. This action on the part of Spain brought that country and Britain to the verge of war. The Spanish restored the settlement to the British in 1771, but the settlement was withdrawn on economic grounds in 1774. In 1806 Spanish rule was overthrown in Argentina, and the Argentine claimed to succeed Spain in the French and British settlements in 1820. The British objected and reclaimed their settlement in 1832 as a Crown Colony.
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