FINANCIAL CHAOS.
SPANISH MINISTER’S CHARGE. (United Press Association—By JClectrle Telegraph—Copyright.) (Received March 17, 5.5 p.m.) MADRID, March 16. The new Minister of Finance, Senor Arquelles, caused a stir when surveying the work of his predecessors, under the late General Primo de Rivera, and charging them with plunging the country’s finances into chaos by juggling with departmental accounts, allocating Government contracts in order to secure supporters, providing thousands of friends with sinecures or committees, and working up pro-dictator demonstrations in the streets at enormous cost. He alleged that the consequences of all this was unprecedented emigration of capital during Primo de Rivera’s regime. Budget deficits were 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 an extraordinary Budget.
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Bibliographic details
Timaru Herald, Volume CXXV, Issue 18520, 18 March 1930, Page 9
Word Count
137FINANCIAL CHAOS. Timaru Herald, Volume CXXV, Issue 18520, 18 March 1930, Page 9
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