South America

Cover South America
South America
Alfred Joseph Deberle
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The position of the country was full of difficulty, and the treas- ury showed a deficit. It had been necessary to spend large sums of money on the army, first, because of the differences which arose with Great Britain, and then as a consequence of the war against Montevideo and Paraguay. The failure of one of the first bank- ing houses of Rio Janeiro and other financial disasters brought on a panic, and commerce was at a standstill. The levying of new army contingents and naval expansion exhaus
...ted all the resources of the state. Fortunately the quarrel with England had a pacific termination. The Treaty of the Triple Alliance of May 8, 1865, was received with rejoicing. The people showed by warlike man- ifestations that they approved of the campaign against Paraguay. The nation hoped for an extension of territory, and influence. No one dreamed of condemning the expense, nor the exceptional meas- ures adopted, such as forced enlistment. Nevertheless, the star of the Furtado ministry was waning, and a vote of censure on certain matters of administration overthrew it on May 24, 1865, and brought back to power the Marquis de Olinda.

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