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For the foreign scholar, especially, an understanding of Peruvian politics between 1895 and 1919, the period of the so-called Repôblica Aristocràtica, is difficult to obtain. This quarter-century is considered an era of rapid social and economic change: in the words of one scholar, it completed ‘the disappearance of colonial Peru’. An important element in this transition was the growth on the coast of the ruling group connected with the expanding export economy, known in the literature variously as the ‘oligarchy’, ‘bourgeoisie’, or the ‘plutocracy’, which supposedly obtained control over the meagre resources of the state and directed them to its own ends.
‘No one is unaware,’ stated Brazil's Minister of Finance Ruj Barbosa in 1891, ‘that commerce, especially large-scale commerce, in our most important trade centers resides in greatest part, not to say in its near entirety, in the hands of foreigners.’ Rui was calling attention to a situation of increasing concern to Brazilian leaders: the preponderance of foreigners in big business. Another Brazilian Minister of Finance, Felisbello Freire, remarked on the subject in 1894, ‘to my mind this phenomenon is an indication of a subjugation which, dating from colonial times, threatens the annulment of native commerce.’.