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Political Debate and Economic Thought in the Brazilian Empire: Power Centralization and Issuing Monopoly in the second Bank of Brazil (1852-1853)

Abstract

The creation of the second Bank of Brazil by Joaquim José Rodrigues Torres, in 1853, pass through the political debate between the so-called papelistas and metalistas. The aim of this paper is to show the influence of this debate on the institution of issuing monopoly in the Brazilian Empire. The paper first characterizes currency and banking school economic principles. Second, the article addresses the adaptation of those principles to the national reality. Finally, shows how the main contenders in that parliament debate dealt specifically with the creation of an issuing bank in the Empire.

Keywords
Bank of Brazil; metalists; papelists

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