The Law of Impediments (1860): Polarization and Economic Policy in Imperial Brazil

• In Event: Imperial Policies and Politics: Continuing Debates in the History of Brazil

Abstract

The set of laws called Laws of Impediments (1860) comprised a series of political reforms promoted by the Brazilian Imperial state in order to strengthen control over economic interest groups. The moniker these laws received were an attempt to denounce state supervision of business activities, since the 1860 laws required that corporations submit their charters for approval to the Council of State. State control intensified even in relation to the social purpose of enterprises, which also required the Council’s sanction. In addition, the law promoted a strong adjustment in the banking and tax system. This presentation will examine the historical conditions that accompanied the adoption of this legal framework to advance the view that the advent of tighter state regulation over private business was due to the intense polarization caused by national economic policies between the years 1857 and 1864, which had to do directly with international situations that broke out at that time, especially the 1857 financial crisis.

Author

• Bruna I Dourado, Universidade Federal Fluminense - UFF