Luis Vernet took passage in the frigate USS Congress, arriving in Montevideo in February 1818 (whilst it was a Brazilian possession) and on to Buenos Aires.

Later he established an Estancia about 100 km south of Buenos Aires on the Río Salado, where he captured and slaughtered wild cattle.

Luis Vernet had a close personal friendship with Jorge Pacheco, one of the heroes of the Liberation War and the British invasions of the River Plate.

Together with Pacheco he approached the Government in Buenos Aires with a plan to establish a settlement to exploit the wild cattle.

In 1823, the United Provinces of the River Plate granted by decree rights to Jorge Pacheco and Luis Vernet.

Governor Martin Rodriguez offered Pacheco the usufruct of the wild cattle in the Falkland Islands as payment for his debt.

[1] At first Vernet rejected the idea, but after reviewing Pacheco's claim and finding them tenuous, he accepted the offer.

One of the two ships transporting the expedition was nearly seized by Schofield's creditors as it had not been paid for and Vernet was forced to provide surety.

Travelling to the islands in 1824, the first expedition failed almost as soon as it landed, a week after arrival Argeguati sent a letter to Pacheco describing how the five horses that had survived the voyage were lame and they were unable to hunt cattle due to the ferocious nature of the bulls.

The letter arrived two days after the contract with Schofield was definitised, so the partners were compelled to arrange a relief mission.

The expedition was soon back in Buenos Aires with nothing to show for it other than massive debt, which was exacerbated shortly after by Schofield's death.

At this point, Pacheco was so discouraged with the enterprise that he planned to sell his share for a small sum of money; instead, Vernet offered him the profits resulting from the capture of wild calves.

Instead, the government granted Vernet all of East Falkland including all its resources, and exempted him from taxation if a colony could be established within three years.

[11] In order to control island resources, Vernet applied to the authorities in Buenos Aires for a warship to put an end to these activities.

[11] Vernet remained on good terms with the British consul, Sir Woodbine Parish, with whom he continued to correspond with and report his progress.

This act was disputed by both the British and American consuls in Buenos Aires, each asserting their right to continue exploiting the natural resources in the islands.

In 1831, Vernet seized the American ships Harriet, Breakwater and Superior for breaking his restrictions on seal hunting.

[16] The settlement at Port Louis was left in a derelict state following the murders, Lt Smith the first British resident set about making the buildings habitable.

In Buenos Aires, Vernet was effectively bankrupt and attempts to obtain compensation from the US Government for losses from the Lexington raid proved fruitless.

This organisation was a key factor in persuading the British Government to establish a colony in the islands, rather than a military base.

He claimed a sum total of £14,295 for horses, domesticated cattle, stone houses and beef left at the settlement, which with interest was inflated to £28,000.

After some five years of wrangling he was awarded £2,400 in a settlement of his claim of which he received £1,850 the balance being used to pay off his promissory notes.

Vernet returned to Buenos Aires and in 1869 signed a contract with his eldest son to pursue claims against the US Government for the Lexington raid, against Britain for unsatisfactory compensation and against Silas E. Burrows, owner of the Superior for breaking the contract signed by Captains Davison and Congar in 1831.

Luis Vernet died in San Isidro, Buenos Aires, in 1871, and was interred in La Recoleta Cemetery.

Argentine government protests over the Falklands had ceased with the signing of the Convention of Settlement but were revived in the Affair of the Map in 1884.

[5] Vernet is considered as a national hero in Argentina as he was proclaimed Military and Civil Commander of Falkland Islands and the Islands adjacent to Cape Horn by the Republic of Buenos Aires in 1829, on the other hand he is also perceived as an unpatriotic merchant who acted in his own interest and made a pact with the British.

The US Government accused Vernet of piracy, whilst the British regard him as an entrepreneur who began the opening up of the Falkland Islands economy.

{{cite book}}: CS1 maint: multiple names: authors list (link) Julius Goebel (1982).