Montés Mora, JaumeMundó Blanch, Jordi2026-01-132026-01-132025-06-231479-2443https://hdl.handle.net/2445/225359The fiduciary conception of political power that the republican tradition adopted in its struggle against absolutism was dissolving during the late eighteenth century and the nineteenth. However, in the mid-nineteenth century, some attempts appeared that represent a reemergence of the fiduciary democratic (or proto-democratic) scheme. One of them was the case of Spanish federalism and its greatest exponent, Francisco Pi y Margall. This article shows that the core of Pimargalian federal republican thought is based on a fiduciary conception of sovereignty, which is grounded in a recovery of the language of revolutionary natural law. (...)25 p.application/pdfengcc-by-sa (c) Montés Mora, Jaume et al., 2025http://creativecommons.org/licenses/by-sa/4.0/FederalismeHistòria econòmicaRepublicanismeFilosofia políticaSocietats fiduciàriesFederalismEconomic historyRepublicanismPolitical philosophyTrust companiesinfo:eu-repo/semantics/article7556312026-01-13info:eu-repo/semantics/openAccess