April 1922, imposing itself in all districts except for Corrientes, Salta and San Juan. Alvear acceded to the presidency winning with 47.5% of the votes, or 419,172 votes. On 12 June, 235 radical voters out of 88 opponents consecrated Alvear, who still resided in France, as the Nation's president. The European governments saw with satisfaction the election of the new Argentine president, widely associated with the representative men of Western politics. Presidency Marcelo Torcuato de Alvear assumed the presidency of Argentina on 12 October 1922, but his cabinet caused a bad impression among many radicals, since almost none of the ministers was in favor of the former president, although it was, in most cases, of personalities of recognized intellectual capacity. For this reason, the distance between Alvear and Yrigoyen began. Certain appointments of ministers were surprising, as was the case of Admiral Manuel Domecq García, fervent repressor of the striking demonstrations during the Yrigoyen government, as well as the appointment of General Agustín Justo. The Argentine radio broadcast the ceremony of the transfer of command, and for the first time in the history of Argentina the voice of a president was heard on the radio. The Sunday following the inauguration, Alvear visited the Jockey Club. It had been six years since a president had not attended there, as Yrigoyen refused to do so. Alvear's cabinet fully attended an interpellation in the Chamber of Deputies, when the ministers had not attended at least since 1919. On 1 May 1923 Alvear read the presidential speech. At 8:00 p.m., Alvear took his car and drove to the Constitución neighborhood to Yrigoyen's house, who invited him to dinner. Economic policy The economic expansion that Argentina experienced during the period known as the radical republic (1916-1930), had an average annual expansion of 8.1%.His period of government began just when the postwar world crisis ended, which allowed the economy and finances to improve without major setbacks. During his government, the Argentine economy reached the most prosperous situation it has ever had in its history: GDP per inhabitant for 1928 reached sixth place among the highest in the world, and income increased by almost 100,000,000 gold pesos. Furthermore, for three years the commercial exchange had been positive. These conditions occurred mainly thanks to the favorable external front: the reactivation after the First World War caused European countries to buy Argentine crops. For this reason, the Alvear government