Inestabilidad de los gobiernos moderados

Overview of Elections and Political Dynamics

Javier Istúriz Calls Elections in 1846

• Javier Istúriz called elections for December 6, 1846.

• The Progressives won 40 deputies due to the abandonment of abstaining from collaborating in elections.

• The amnesty granted after the marriage of Isabel II and Francisco de Asís contributed to the Progressives' success.

Government Formation and Leadership Changes

Government Challenges and New Appointments

• On January 28, 1847, the government faced challenges due to alliances between Progressives, Puritans, and Moderates.

• Duke of Sotomayor replaced Istúriz; Carlos Fernando Martínez de Irujo was introduced as a new leader.

Profile of Duke of Sotomayor

Background and Political Career

• Duke of Sotomayor (McKean) was born in Washington in 1799.

• His political career focused on diplomacy abroad, emphasizing moderation and respect for laws.

• Appointed as President by balancing Istúriz's conciliatory approach with General Serrano's issues.

Short-lived Presidency of Duke of Sotomayor

Challenges Faced by Sotomayor's Government

• Sotomayor's government lasted only two months due to conflicts with General Serrano over the Carlist War.

• Lack of support from key figures like Narváez and Queen Mother led to instability.

Political Turmoil Surrounding Queen Isabel II

Tensions at Court and Political Shifts

• Conflict arose when Queen Isabel II opposed General Serrano's involvement in the Carlist War.

• Public displays of affection between Isabel II and Serrano strained relationships at court.

Impact on Royal Relationships and Exile

Consequences on Royal Family Members

• Marital tensions between Maria Christina, Francisco de Asís, and General Serrano led to separations.

• Joaquín Francisco Pacheco succeeded Sotomayor but faced challenges within his own party.

Profile of Joaquín Francisco Pacheco

Early Life and Political Rise

• Pacheco, born in Cádiz in 1810, had a military background before entering politics.

[Detailed Summary of the Transcript]

Espartero's Political Career and Policies

This section delves into Espartero's political career, his policies, and the impact he had on Spain during his time in power.

• : Espartero served as a deputy for Álava and supported the reinstatement of María Cristina, leading to his exile to France briefly. He aligned with the puritanical faction after the split in the moderate party.

• : Pacheco aimed to occupy a central political position but faced opposition from various groups. Despite this, he focused on reforming the court personnel and attempting to mend the royal marriage.

• : During his governance, Pacheco granted amnesty, curbed Carlist expansion in Catalonia, but struggled to resolve economic crises. He held ministerial positions under Espartero and Mont, emphasizing progressive economic policies.

Jose de Salamanca: Economic Reforms and Political Influence

This part explores Jose de Salamanca's economic reforms, political influence, and personal ambitions that shaped Spain's financial landscape.

• : Under Jose de Salamanca's guidance, Spain adopted progressive economic policies favoring liberal trade practices over protectionism. His reforms included administrative restructuring, desamortization initiatives, tax reforms, and tariff adjustments.

• : Salamanca's background as a wealthy bourgeois influenced his approach to politics and business. His strategic investments in salt monopolies and stock market dealings contributed significantly to his immense fortune.

• : Salamanca's early life involved legal studies at Granada University before engaging in liberal circles. His entry into politics through local governance marked the beginning of his influential career trajectory.

Salamanca's Controversies and Personal Life

This segment sheds light on Jose de Salamanca's controversial dealings, lavish lifestyle, and tumultuous relationships within Spanish high society.

• : Salamanca engaged in profitable stock market ventures with figures like Narváez but faced animosity due to financial disputes. His unbridled ambition drove him to accumulate vast wealth through political connections.

• : Known for extravagant living standards and numerous romantic liaisons with pensioned mistresses, Salamanca epitomized opulence within Madrid society while leveraging ministerial roles for personal gain.

• : Salamanca's impulsive nature fueled risky investments that yielded substantial returns yet drew criticism for exploiting political power for personal enrichment across diverse business ventures.

Legacy of Jose de Salamanca

This final section reflects on Jose de Salamanca’s enduring legacy as a prominent figure in Spanish politics and economics during the 19th century.

• The multifaceted activities of Jose de Salamanca encompassed diverse ventures such as establishing Spain’s first bathhouse enterprise alongside involvement in transportation infrastructure projects like railways.

Detailed Historical Account of Banking Institutions in Spain

The transcript delves into the historical context of banking institutions in Spain, focusing on key events such as the establishment of the Banco Nacional de San Carlos and its evolution into the Banco de España.

Salamanca's Role in Railway Contracts

• Salamanca was a primary beneficiary of state aid reserved for railway contractors between 1853 and 1854.

• Criticisms arose regarding the discretionary nature of railway concessions, leading to discontent with the government.

Creation of Banco Nacional de San Carlos

• The Banco Nacional de San Carlos was established in 1782 with support from Carlos III during the US War of Independence.

• Francisco de Cabarrús proposed issuing public debt (vales reales), leading to the bank's foundation to facilitate circulation and convert debt into cash.

Evolution into Banco de España

• Debts accumulated due to conflicts and wars led to transformations, including recovering debts through founding Banco de San Fernando.

• In 1856, Banco de San Fernando was renamed Banco de España, marking a significant milestone in Spanish banking history.

Fusion of Banks and Financial Crisis

• The fusion of Banco de San Fernando and Banco de Isabel II resulted in the creation of Banco Español de San Fernando.

Las Obligaciones Pendientes de Pago

The discussion revolves around the pending payment obligations that failed to convince Queen Isabel II to appoint a finance minister. This led to the author benefiting from a merger where a new bank absorbed all losses.

Las Obligaciones Pendientes de Pago

• Serra's attempt to persuade Queen Isabel II with pending payment obligations did not result in the appointment of a finance minister.

• The author and his partners benefited from a merger where a new bank absorbed all their losses.

• The newly formed bank had an initial capital of 400 million reales, divided into 200,000 shares split equally between two parties.

Reorganization of Banco Español de San Fernando

This segment discusses the bankruptcy of debtor companies associated with banks, leading to governmental intervention and restructuring of Banco Español de San Fernando.

Reorganization of Banco Español de San Fernando

• Between 1847 and 1848, all debtor companies linked to banks went bankrupt.

• Minister of Finance Alejandro Mon enacted a law on March 4, 1849, restructuring Banco Español de San Fernando into emission and operational departments.