The paper was founded on 4 January 1870 (replacing the former publication "Nación Argentina"), by former Argentine President Bartolomé Mitre and associates. Until 1914, the managing editor was José Luis Murature, Foreign Minister of Argentina from 1914-1916. Enjoying Latin America's largest readership until the 1930s, its daily circulation averaged around 350,000, and exceeded only by "Crítica", a Buenos Aires tabloid. The 1945 launch of "Clarín" created a new rival, and following the 1962 closure of "Crítica", and the 1975 suspension of "Crónica", "La Nación" secured its position as the chief market rival of "Clarín".