Second Vargas Presidency
The Vargas administration was hampered by an economic crisis, congressional opposition, and impatience among his supporters. He announced an ambitious industrialization plan and pursued a policy of nationalization of the country's natural resources. To reduce foreign dependency, he founded the Petrobras Brazilian state oil enterprise.
By 1954, Vargas faced opposition from the National Democratic Union and the military. The murder of Major Rubens Vaz, an associate of opposition newspaper editor Carlos Lacerda, by some of the president's bodyguards, known as the crime of "Rua Tonelero", led to a reaction against Vargas. Army generals demanded his resignation. After failing to negotiate a temporary leave of absence, the isolated Vargas shot himself on August 24, 1954.
Read more about this topic: Second Brazilian Republic
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