 This figure dropped sharply during the republican period, falling to 5% between 1895 and 1899, and improved slightly to 6% between 1900 and 1904.Still, it took many years to return to the level that prevailed during the Empire.At the time of its downfall in 1889, monarchical Brazil had 636 factories (representing an annual rate of increase of 6.74% from 1850) with a capital of Rs 401.630