Order Of The Republic.

[Taz]

The Order of the Spanish Republic (Spanish: "La Orden de la República Española")
was founded in 1932 to replace the orders of merit of the former Spanish Monachy
The ribbon was red with a white border.

[Tomahawk]

Here is the badge (taken from Sixbid)

[CtahhR]

Here is the original gazette, giving the correct name (Orden De La República) and date of foundation as 21st July 1932.