José Balta
José Balta y Montero (25 April 1814 – 26 July 1872) was a Peruvian soldier and politician who served as the 19th President of Peru from 1868 to 1872. He was the son of John Balta Bru and Agustina Montero Casafranca. In 1865, he aided Mariano Ignacio Prado in the seizure of the presidency and served in his administration. In 1867, he in turn overthrew Prado. As president, he re-established constitutional rule and undertook vast projects for national improvement. He granted a monopoly of guano export to a French company and obtained large loans in Europe, yet the lavish expenditures of his administration plunged Peru deep in debt. Balta was deposed and shot by a disgruntled member of his own cabinet, Defense Minister Tomás Gutiérrez during his subsequent coup d'état attempt. Early career José Balta y Montero embraced a military career from an early age. At only 16 years of age he entered the Military College in 1830, from which he graduated three years later with the rank of sergeant. By the age of 38, he already had the rank of colonel. In 1855, he joined the cause of Luis José de Orbegoso (1834), that of Felipe Santiago Salaverry (1835) and the Restoration (1838 to 1839). In 1865, he joined the rebellion of Pedro Diez Canseco and Mariano Ignacio Prado against President Juan Antonio Pezet. He participated in the Battle of May 2, but the following year he distinguished himself among the opponents of president Prado, who exiled him to Chile. José Balta returned to Peru in 1867 and led a movement against the Prado in Chiclayo, which was echoed in Arequipa, where he rose with General Pedro Diez Canseco. Both refused to swear under the new Constitution of 1860, which was proclaimed in force. Mariano Ignacio Prado, then traveled south to quell the rebellion, but under pressure from both Balta and Diez-Canseco, and exercised by the Congress from Lima, he was forced to resign. The interim presidency fell for the third time and in the general veteran Pedro Diez Canseco became president. Before the first month of his term, on February 6, Diez Canseco called for presidential elections, in which Balta actively campaigned. In that contest, he got 3168 votes, against 384 for Manuel Costas and 153 for his main rival, Manuel Toribio Ureta, who represented the Liberals. Balta wore the presidential sash on 2 August 1868. Presidency of the Republic Under his administration, Balta began opening the country to foreign capital. Nicolás de Piérola, the appointed Minister of Finance, tried to resolve the financial crisis that choked Peru by surrendering what would become the exploitation of Guano to the French-Jewish company Dreyfus. This put him at odds with the local oligarchy. The money from the agreement was used for the construction of railways and other projects. This was one of the main legacies of the Balta government. By the year 1861, Peru only had a 90-mile railroad system, but by 1874, it became a 947 miles system. At