, in Downtown Rio de Janeiro Floriano Peixoto was an army marshal (he was promoted to this rank in 1874) when
elected vice president in February 1891, he gained notoriety throughout his life for his strong
abolitionist,
anti-racist, and
anti-corruption stance. In November 1891, he rose to the presidency after the resignation of
generalissimo Deodoro da Fonseca, the first president of Brazil. Floriano Peixoto came to the presidency in a difficult period of the new Brazilian Republic, which was in the midst of a general political and economic crisis made worse by the effects of the bursting of the
Encilhamento economic bubble, but his policies successfully put an end to the successive economic crises that had plagued the country since 1889 and in a short period of time the economy stabilized and grew again. As vice president, he had also served as the
President of the Senate. == Presidency (1891–1894) ==