Estado Novo (Portugal)
King Carlos I of Portugal confirmed colonial treaties of the 19th century that stabilized the situation in Portuguese Africa. These agreements were, however, unpopular in Portugal, where they were seen as being to the disadvantage of the country. In addition, Portugal was declared bankrupt twice—first on 14 June 1892 and again on 10 May 1902—causing industrial disturbances, socialist and republican antagonism, and press criticism of the monarchy. Carlos responded by appointing João Franco as Prime Minister and subsequently accepting Parliament's dissolution. In 1908, Carlos I was assassinated in Lisbon. The Portuguese monarchy lasted until 1910 when, through the 5 October revolution, it was overthrown and Portugal was proclaimed a republic. The overthrow of the Portuguese monarchy in 1910 led to a 16-year struggle to sustain parliamentary democracy under republicanism – the Portuguese First Republic (1910–1926).
Praça do Comércio
On 1 February 1908, the square was the scene of the assassination of Carlos I, the penultimate King of Portugal. On their way back from the palace of Vila Viçosa to the royal palace in Lisbon, the carriage containing Carlos I and his family passed through the Terreiro do Paço. While crossing the square, shots were fired from the crowd by at least two men: Alfredo Luís da Costa and Manuel Buiça. The king died immediately, his heir Luís Filipe was mortally wounded, and Prince Manuel was hit in the arm. The assassins were shot on the spot by members of the bodyguard and later recognized as members of the Republican Party – which two years later overthrew the Portuguese monarchy.