Abstract
‘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.’.
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