SPANISH AFFAIRS.
FINANCES IN CHAOS. MINISTER. CAUSES A STIR. United Press Assn.—Elec. To.—Copyright. MADRID, March 16. The new Minister of Finance, Senor Arguelles, has caused a stir by surveying the work of his predecessors under the late General Primo de Rivera. Senor Arguelles charged them with plunging the country’s finances into chaos, juggling with the .departmental accounts, allocating large Government contracts in order to secure supporters, providing thousands of their friends with sinecures upon committees, and working up demonstrations in the streets in favour of the Dictator at enormous cost.
The consequence of all this, said the Minister, was an unprecedented outgoing of capital. During de Rivera’s regime, he said, the Budget deficits were constantly increased until in 1929 there was one of two milliard pesetas. The former Treasurer had converted that deficit into a surplus by opening a fresh account under the pretext of an extraordinary Budget.
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Waikato Times, Volume 107, Issue 17972, 18 March 1930, Page 7
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148SPANISH AFFAIRS. Waikato Times, Volume 107, Issue 17972, 18 March 1930, Page 7
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