Writer Carlos Rodríguez Braun examined the commercial enterprises, banking practices, and inflationary pressures depicted throughout the novel Fortunata y Jacinta by Benito Pérez Galdós.
Following a previous analysis of the Santa Cruz family business, Rodríguez Braun focused on the Arnaiz family saga. Bonifacio Arnaiz, father of doña Barbarita and grandfather of Juanito Santa Cruz, operated a business selling Chinese cloth.
The enterprise faced difficulties that female family members identified. After Bonifacio died, doña Barbarita managed the family estate with prudence. However, Bonifacio's heirs discovered an impending crisis during an inventory. Bonifacio had purchased excessive Manila shawls just as their popularity began to decline. Rodríguez Braun noted that Bonifacio acted more like an artist than a merchant, making imprudent orders out of love for the product.
Arnaiz Business Recovery and Market Changes
Isabel Cordero saved the Arnaiz establishment by understanding retail store operations and updating fabrics to match changing fashion trends. Cordero also warned of competitive pressure from British merchants importing Eastern textiles via the Suez railway prior to the construction of the canal.
Rodríguez Braun highlighted other commercial activities in the novel, including bazaars selling items for one real, proving single-price retail is not a modern invention.
The novel features economic figures such as Lupe, known as Lupe of the turkeys, who served as aunt and protector of Fortunata. Lupe traded in poultry and other products while running a moneylending business managed by Torquemada.
Usury, Banking Shares, and Inflation
Galdós treated both lenders with sarcasm. Lupe would forgive personal offenses and insults but never a debt. Torquemada possessed all the qualities of a perfect usurer yet traded skillfully, avoiding safe mortgages to pursue high-risk loans with high returns among honorable borrowers who paid.
The Bank of Spain appears in the novel because its privately held shares offered a solid guarantee. Baldomero II invested in Bank of Spain shares, and Evaristo gave bank shares to Fortunata.
The text also depicts rising prices and inflation. Doña Lupe noted that potatoes had reached six reales per arroba, a rate never seen before. Additionally, advertising is described as a new business viewed with both admiration and concern over its potential to mislead consumers.
Alongside the column, live reporting on the publication page noted that an earthquake in Colombia left 240 people dead.
