Spanish Finances in Deplorable Condition
NEW MINISTER’S ALLEGATION TURNING LARGE DEBITS INTO LARGER SURPLUSES. United Press Association.—By Electric Telegraph.—Copyright. Received Monday 7.0 p.m. MADRID, March 17. The new Finance Minister, Scnor Arquclles, has caused a stir by surveying the 'work of his predecessors under General Primo de Rivera, the late Dictator, and charging them with plunging the country’s finances into chaos, juggling with departmental accounts, allocating large Government contracts in order to secure supporters, providing thousands of friends with sinecures on committees and working up pro-Dlctator demonstrations in the streets at enormous cost. He alleged that tho conscqucnco of all this was an unprecedented emigration of capital. During tho late regime, tho Budget deficits constantly increased until in 1929 there was a deficit of two milliard pesetas, which the ex-Treasurer converted into a surplus by opening a fresh account under the pretext of presenting an extraordinary Budget.
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Manawatu Times, Volume LV, Issue 7170, 18 March 1930, Page 7
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147Spanish Finances in Deplorable Condition Manawatu Times, Volume LV, Issue 7170, 18 March 1930, Page 7
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