Sorry about the previous post, I hit the wrong key! This rifle is a MAUSER MODELO ARGENTINO 1891 MANUFACTURA LOEWE BERLIN. Any help from the rifle experts.

It's the Argentine model 1891 made by Loewe in Berlin. Loewe later became DWM,(Mauser).  Original caliber was 7x57mm Mauser.  These were extremely well made rifles and were favorites of European gunsmiths who built custom hunting rifles in the 20's and 30's.
Although the action isn't suitable for heavy modern calibers, they still make a good shooting rifle if in good condition.
Mauser designed a number of rifles in the 1890 to 1900 era, including the 1888, the 1891, the 1893, the 1894, and the famous 1898.    Versions were made for a variety of countries.  Several countries made Mausers under license.

Some other countries may have used or tested a few 1891 type Mausers in 7mm, but the common Argentine ones were in 7.65mm. This cartridge was mainly used by Argentina and by Belgium, and is a nice modern looking cartridge with a fairly sharp shoulder. Bullet diameter is larger than the .308 that is standard for .30 caliber rifles in the U.S., something like .311 or .313, but at least one bullet weight is still easily available for reloaders. The case has the standard head size and can be made from .30-06 brass.

The Loewe markings indicate it was an earlier rifle, as Loewe did combine with some other companies to form DWM in the late 1890's. Many of these rifles were imported in excellent condition before the Gun Control Act of 1968, but sadly Argentine law required that the national crest be ground off the receiver ring before they left the country. Rifles with the crest are worth much more to collectors.

Most people don't like the protruding single-column magazine, but it does allow a trimmer stock. And I like the fact that the receiver lacks the thumb notch of later Mauser designs, which I feel is ugly, reduces action smoothness, and makes the receiver less rigid.

The action is strong, but lacks important design details which make the 1898 Mauser safer and better able to keep gases and particles from defective cartridges from hitting you in the face. It's best fired with lighter loads.

I hate to see people mounting scopes on, or otherwise chopping up, nice old military rifles. However, if your gun has already been cut shorter (as many were) they are easily converted into neat sporters, due to how the barrels were inletted very closely into the stocks with no air space as in more modern designs.

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Sorry 'bout that, the Argy is indeed a 7.65mm.

The early wave of '91's had crests, until two central American countries had one of their periodic min-wars.  I think it was Costa Rica that found crested Argy rifles being used against them. The suspecion was that Argentina was arming the other side.  Argentina then began grinding the crests.  
I think that Argentina again began selling crested rifles in the 80's.

Because the action is compact and noted for smoothness, European custom gunsmiths favored the '91 as a basis for the traditional Jager type hunting rifle.  Many of these were built during the 20's and 30's.  Many of these were brought home by WWII GI's who picked them up after Germany's defeat.

A late friend of mine had one chambered for some strange german caliber.  It was a jager style with a full stock, Schnabel forend tip, and Wundhamer pistol grip.  It had modest engraving, and nicely figured european walnut.

When the army arrived at a German town, orders were given for all firearms to be surrendered at the town square.  This old vet told me he pulled his Jager from a pile of guns about 6 feet high and many, many feet around.  He saw everything from MP-44 assault rifles to Rennisance matchlocks.

If your rifle is original, don't alter it, as most military rifles have been cut up for minimal sporters in past years.  Keep it original and enjoy it.  If, however, it's been altered, go for it.