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This work analyses the Spanish experience of the First World War in terms of the general crisis in Europe at this time. In Spain, as elsewhere, the impact of four years of devastating conflict resulted in ideological militancy, economic dislocation and social struggle. The author examines the slow decay of the ruling Liberal Monarchy during the war years, and the failure of the neutrality policy to save the existing regime. He looks at challenges to the Administration from: · the labour movement · the bourgeoisie · the army · international powers Romero shows a politically apathetic population galvanised by the war into fierce debate about belligerence or neutrality. The debate divides the nation and the new political awareness leads to a questioning of the Administrations authority. There is also vast economic and social change, as Spain exploits its privileged position as supplier to both sides of the war. These factors lead to galloping inflation, civil unrest and political turmoil, finally resulting in the revolutionary strike of 1917.
Amongst the serried ranks of capitalists who drove European industrialisation in the nineteenth century, the Rothschilds were amongst the most dynamic and the most successful. Establishing businesses in Germany, Britain, France, Austria, and Italy the family soon became leading financiers, bankrolling a host of private and government businesses ventures. In so doing they played a major role in fuelling economic and industrial development across Europe, providing capital for major projects, particularly in the mining and railway sectors. Nowhere was this more apparent than in Spain, where for more than a century the House of Rothschild was one of the primary motors of Spanish economic development. Yet, despite the undoubted importance of the Rothschild's role, questions still remain regarding the actual impact of these financial activities and the effect they had on financial sectors, companies and Spanish markets. It is to such questions that this book turns its attention, utilising a host of archive sources in Britain, France and Spain to fully analyse the investments and financial activities carried out by the Rothschild House in Spain during the nineteenth and early twentieth centuries. In so doing the book tackles a variety of interrelated issues: Firstly, fixing the period when the main capital entries sprung from the initiatives taken by the Rothschild family, how consequential they really were, and the sectors they affected. Secondly, quantifying the importance of these investments and financial activities and the weight they had on financial sectors, companies and Spanish markets, as well as in foreign investment in each period. Thirdly, outlining the steps followed and means used by the Rothschild House in order to achieve the success in each of their businesses. Finally, analysing the consequences of this phenomenon in the actual growth of Spanish contemporary economy, both in a general and in a partial scale. By exploring these crucial questions, not only do we learn much more about the working of one of the leading financial institutions and the development of the Spanish economy, but a greater understanding of the broader impact of international finance and the flow of capital in the nineteenth century is achieved.
Spain 1914-1918 explores a crucial episode in the history of Spain and of Europe. Romero offers insightful analysis of a society in transition from tradition to modernity, and from oligarchy to mass politics.
This book analyzes the decay of Liberal politics in Spain as the regional version of the general crisis that engulfed most of Europe between 1916 and 1923. Romero enriches the important wider debate about this watershed period of European history when, in the face of unprecedented mass social protest and political mobilization, incumbent governing elites struggled to find a valid formula of social containment in the dawning of mass politics which also saw the spread of the radical new doctrines of Bolshevism and Fascism. Above all, this book examines Spain’s "crisis of modernization," a process marked by complex social and political realignments through which the nature of civil society was profoundly altered. It resulted in an unprecedented spiral of violence and a polarization that firstly led to an authoritarian formula of social control in 1923, and ultimately to the outbreak of civil war in 1936.