As is usual in such cases, the Government had to shoulder the blame.

A four-day revolution broke out in Buenos Aires, and the President became the scapegoat; but the panic went on, nevertheless, until gold stood at nearly five to one.

Most of the banks suspended payment; the national debt underwent a huge increase; and immigration practically ceased.
By 1895, however, the country had more or less resumed its normal condition.

A new census showed that the population had risen to four million, about a sixth of whom resided in the capital.

The importance which agriculture had attained was attested by the establishment of a separate ministry in the presidential cabinet.