Initially with moderate conservative orientation, it drifted increasingly to the right, making concessions to Catholic constituencies towards the end of the First Republic.
[citation needed] It held close links with the Banco Nacional Ultramarino and other important banks and major corporations.
[4] It included Óscar Carmona, future president of the Estado Novo, as minister of war and lasted one month.
In December 1923, Álvaro de Castro left the PRN to form a new government, which did not include Nationalists, but Democrats, independents and members of the "New Cornfield".
Notable leaders of the Nationalist Republican Party, besides Machado, included Tomé de Barros Queirós, Júlio Dantas, and José Mendes Cabeçadas, Cunha Leal, who left to found the Liberal Republican Union in 1926, and, after 1925, Commander Filomeno da Câmara de Melo Cabral, one of the organisers of the 18 April 1925 Generals' Coup.