The South American Republics, Part 1 of 2Dawson, Thomas Cleland
History
The South American Republics, Part 1 of 2
Dawson, Thomas Cleland
South America -- History
From 1849 the country had been having prosperous times, but in 1856 the
inevitable commercial crisis came. Prosperity had brought about
extravagances in governmental administration; the budgets showed
deficits; foreign loans were resorted to; the currency fluctuated
violently. Brazil entered upon seven lean years, during which foreign
trade remained stationary, the revenues increased only at the cost of
heavy impositions, and the public debt grew. With the death of the
Marquis of Parana in 1858 the regular Conservatives returned to power.
He had been the dominant figure in politics since the Regency, and his
personal prestige and the confidence the Emperor reposed in him had had
much to do with holding the government together during the panic. But
the new ministry could not make headway against the difficulties. A new
currency law was necessary, but the mercantile and speculating classes
bitterly opposed the rigid measures proposed by successive Cabinets.
Parana's neutral policy had given the opposition a hold in some of the
most important provinces, and the following elections showed a vast
increase in the number of Liberals and of dissident Conservatives.
Conservative Cabinets succeeded each other rapidly from 1858 to 1862.
The opposition to a contraction of the currency grew in force, and the
dissidents and Liberals finally obtained a majority. The Emperor at last
called upon the leader of the dissident Conservatives--Zacarias--to form
a government. But he was as powerless as his predecessors, and as a last
resort the Emperor temporarily gave up the effort to govern after the
English system, and selected a Cabinet outside of the Chamber of
Deputies.
Public-domain text, read in full here on John Shaqi.
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