There appears to be very little information about Elio Rietti readily available, other than that he was an “Argentinian pianist, composer and orchestra conductor”[1] in the early 20th century, but he appears to have been a fairly important figure, as his band made numerous recordings for Victor in the late ’20s and early ’30s.
Like “Soñando El Charleston,” the Elio Rietti Jazz Band’s c. 1927 recording of “Yo Bailo el Charleston” sounds generally very reminiscent of contemporary American dance band records; however, there is a slightly greater presence of certain Latin elements, most notably during the Charleston breaks that occur throughout the piece (first occurring at 0:29 in the video, then 0:46, and so on). The Charleston break is a distinctly American innovation and is very common in American dance records of the mid-’20s, but in this recording, it is combined with a tango-esque rhythm at the same time.
Due to the lack of information on Elio Rietti, it is difficult to say how “Yo Bailo El Charleston” should be interpreted; it seems, however, that the orchestra was participating in the Charleston craze that came out of the United States in the 1920s, yet trying to do so without completely succumbing to the new American jazz style and eschewing more traditional Latin styles.
[1] “Elio Rietti.” Discogs. https://www.discogs.com/artist/4441464-Elio-Rietti?noanv=1