In "But We Don't Have Any Weapons," what argument does the community have, and who is on each side of the dispute?

In "But We Don't Have Any Weapons," the community argues over how to deal with the threat from the Argentine army. The gauchos and the warriors want to fight the army, but the Europeans argue that without weapons they will be annihilated. The oldest community members are relieved when this argument wins the day, because they know how precious life is.