Four years later, he became one of the first members of the Real Academia de Ciencias Morales y Políticas (RACMP) and, together with several associates, including José Echegaray and Segismundo Moret, was a founder of the "Sociedad Libre de Economía Política", an organization devoted to the principles of free trade.
After the Revolution of 1868, Francisco Serrano y Dominguez, head of the Provisional Government, named him Ministro de Hacienda, a position he held until early the following year.
His position in the Cortes had become difficult during his second term as minister, due to opposition from Pi y Margall and others, including businessmen in the industrial sector.
He was then elected President of the Board of Directors for the Institución Libre de Enseñanza, created by Royal Decree in 1876.
He was also one of the first members of the Faculty Board, together with Nicolás Salmerón, Joaquín Costa and Francisco Giner de los Ríos, among others.