Although it could be classified as a dynastic party, its membership included at the start of the 20th century some politicians who would later become Republicans, such as Niceto Alcalá Zamora.
After Sagasta's death in 1903, a leadership contest occurred between Eugenio Montero Ríos and Segismundo Moret, which eventually led to José Canalejas leading the party.
He tried to reform it and bring it closer to the reality of the country, but his attempts to evolve the party were cut short by his murder in 1912.
That reopened a leadership struggle between two new protagonists, the Conde de Romanones and Manuel García Prieto, and led the party into a deep crisis, coinciding with the disintegration of the political system in which it had played a major part.
The disintegration ended in 1931 with the dictatorship of Primo de Rivera and finally the monarchy of Alfonso XIII of Spain.