jan 1, 1930 - Rapid inflation
Description:
Miguel Primo de Rivera stated that he would rule for only 90 days, but, he broke that promise and stayed in power. He tried to reduce unemployment by spending money on public works but to pay for this he introduced higher taxes on the rich people. When they complained Rivera changed his policies and tried to raise money through public loans. This caused rapid inflation and lose of support from the army. He was forced to resign in January 1930.Added to timeline:
Date:
jan 1, 1930
Now
~ 95 years ago