Attempts at Financial Reconstruction

Winston Fritsch
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Winston Fritsch: Catholic University of Rio de Janeiro

Chapter 5 in External Constraints on Economic Policy in Brazil, 1889–1930, 1988, pp 75-117 from Palgrave Macmillan

Abstract: Abstract The political tensions generated by the dissent over the 1922 presidential succession between Brazilian regional groups marked the beginning of recurrent strains on the political stability of the First Republic during the twenties. As early as the beginning of 1921, Sao Paulo and Minas Gerais politicians had opened informal talks aimed at placing Arthur Bernardes, then governor of Minas Gerais, at the head of the Brazilian government. Although Bernardes’ candidacy did not find overt opposition from other regional interests, a confrontation over the choice of the vice-president developed between the two leading north-eastern states of Bahia and Pernambuco. When even Pessoa’s direct intervention could not settle the dispute and a third name had to be put forward as the government’s official candidate, ex-President Nilo Peçanha of Rio de Janeiro succeeded in obtaining the support of the now disaffected political cliques of Bahia and Pernambuco plus that of the strong southern state of Rio Grande do Sul in his bid for the presidency, standing as an independent ‘opposition’ candidate.1

Keywords: Monetary Policy; Central Bank; Federal Government; Finance Minister; External Constraint (search for similar items in EconPapers)
Date: 1988
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-09580-3_5

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DOI: 10.1007/978-1-349-09580-3_5

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