Coup against Cáceres
However, this was not the end of Piérola as he would prove himself president of Peru years later as the leader of the Democratic Party of Peru, which he had founded in 1882. In 1894, after associating his party with the Civil Party of Peru to organize guerillas with fighters to occupy Lima, he oustedAndrés Avelino Cáceres, who had taken control of the government after the death of Remigio Morales Bermúdez, whose Vice President was prevented by Cáceres to take office. Pierola was successful in overthrowing Cáceres and once again became president of Peru in 1895. The politician's second coup became very controversial for it was realized in a messianic and very violent fashion: over a thousand people were murdered in what was supposed to be Pierola's triumphal entry into Lima
For the Peruvian Elections of 1895, Piérola's platform included several members of the Civilista Party, and thus he was not challenged by any other candidate. He was elected President after receiving 4150 votes out of 4310 valid votes.
It is generally accepted that his Presidency inaugurated the "Aristocratic Republic", a period in which the economic and political "elite" was the sole and undisputed ruling class of the country. This period was marked with the reconstruction of a devastated Peru by initiating fiscal, military, religious, and civil reforms.
One of his most successful reforms was the issuing of the "Libra Peruana", gold currency of the same value as the British Sovereign, which gave Peru unprecedented monetary stability. The country started a slow but steady economic reform that effectively minimized the recession, while at the same time allowed an effective modernization of the State. He also sponsored the immigration ofJapanese citizens to Peru.
In 1890, Pierola intended to return to politics, this time running for the Mayorship of Lima. This was widely seen as a terrible political mistake, since he was defeated by an independent coalition led by Agustín Elguera. His influence in politics faded away and he made another political mistake by supporting his brothers Carlos, Isaías and Amadeo in their attempt to overthrown President Augusto B. Leguía.
His political influence continued to decline during his final years. He died in Lima in 1913.
Mariano Ignacio Prado
|President of Peru|
Francisco García Calderón
|President of Peru|
Eduardo López de Romaña