When the question of a successor became necessary Roca declared he would maintain absolute neutrality. Such a thing was almost unheard of in South America, and the people placed little credence in it. Among the several candidates was his brother-in-law, Miguel Juarez Celman. This man stood before the country in the guise of the official candidate. If Roca did nothing to assist, he did nothing to hinder Celman’s selection. When the election arrived there was practically no contest, and Celman was chosen almost unanimously. At the election in March electors equal to twice the number of representatives in Congress are elected, who meet on June 12th and choose a president and vice-president. Celman was an unfortunate choice. As governor of Cordoba he had shown no administrative ability, nor later in Congress. There was little to recommend him and he had been chosen by the Cordoba “Clique,” because of his pliancy. The almost four years of his administration are memorable for reckless private and public borrowing. Flattery and adulation turned the head of the new President. Many thought that Roca would be the power behind the throne, but events disproved that idea. With his head turned by the servility shown him, Celman soon chafed at any restraint. He broke loose from all control, and even Roca soon cooled. Political adventurers began to fill the offices and an era of carpet-bagging followed. Elections for senators and deputies were openly manipulated. Bribery and corruption were everywhere apparent. Concessions and monopolies were scattered broadcast. A healthy activity was followed by a mad rush of speculation. The provincial governments followed suit. The corruption of former days sunk into insignificance beside the orgy of this administration. Banks of issue were established throughout the republic, whose notes were guaranteed by national bonds. The paper circulation was almost quadrupled and the premium on gold rose. As the banks were obliged to purchase bonds of the government, this gave it a ready supply of money. Soon this was squandered and the national government found itself obligated for one hundred and ninety-six million dollars on these guarantees.