The Minister of Industry, Ruiz, was also smiling at this moment. Although the funds ultimately used for the acquisition were less than 60% of what he proposed, it was still a substantial amount of 300 million Pesseta.
In the midst of an economic crisis ravaging Europe, the value that this funding can provide is at least equivalent to 1.5 billion Pesseta prior to the crisis.
Deploying 300 million Pesseta to acquire foreign enterprises was a decision made by Prime Minister Prim after careful consideration.
The Spanish Government was not incapable of contributing more funds. Although the current amount of funding in the Ministry of Finance is not abundant, leveraging the Gold of the Temple Treasure, printing a few billion Pesseta would not be a problem for the Spanish Government.
