This article attempts to reformulate the assumptions upon which Conservatives and Liberals in Latin America and Peru acted after achieving independence from Spain. It begins with an introduction at the Latin American level and then proceeds to put forLiberales y conservadores en el siglo XIX: Un viejo debate Juan Luis Orrego Penagos ward the differences or similarities Liberals (or “free traders”) and Conservatives (or “protectionists”) in the Peruvian scene be-