King Alfonso signed a Royal Decree forbidding politicians, especially Ministers and former Ministers of the Crown, to accept positions on boards of directors or to act as legal counsel for large corporations.
The despatch from Madrid said that this move of Captain General Primo Rivera, Spanish Dictator, was met with popular enthusiasm and that when the period of three months appointed by Rivera for the temporary functioning of the Military Directorate terminates he will be forced to continue his office by popular acclamation.
Nevertheless, Count Romanones, former Premier, expressed the opinion, in a letter to the press, that he is entitled to administer his private fortune, invested in various enterprises in Spain. He also protested against the censorship which prevented him from publishing an article on constitutional rights in his newspaper.
The Marquis de Cortina, director of the Banco Españo Credito, and a former Cabinet Minister, said that he would rather pay the maximum fine of 25,000 pesetas ($3,362.50) than resign his post.
The Union Phoenix Insurance Co. canceled all its policies held by the Government on public property and declared it reserves complete liberty to name directors.
Captain General Primo Rivera extended indefinitely the expired Treaty of Amity and Commerce with the U. S., pending the conclusion of a new agreement.
The story behind this action states that the U. S. Ambassador has introduced into Spain the refrain:
Si, no tenemos de mañanas,
No tenemos de mañanas, hoy.
Mañana means tomorrow and when Ambassador Moore tried to see Dictator Primo Rivera about the commercial Treaty, sentinels on duty turned him away with Mañana, Mañana (tomorrow morning). When the U. S. Ambassador finally saw General Rivera he said: "Spain only lacks two words in its vocabulary, one is 'no' and the other is 'yes'." The story continued: "General Rivera saw the point, and when Mr. Moore a minute later asked bluntly whether the American treaty was to be drawn up promptly General Rivera was ready with an answer, and it was not 'mañana'."