How can any further investigation be carried out on the numerous nineteenth-century guitar composers who have embraced the theme of Folia? Giving voice to the figure of Carulli today seems opportune, indeed right and proper, bringing to light part of his quality concert repertoire which has remained in the shadows for too long. The historical editions available of Op. 75 (Les Folies d’Espagne variées de deux manières pour la Guitare ou Lyre) are divided into two parts. The first presents a cycle of twelve variations in the canonical key of D minor, whose didactic setting betrays a certain compositional weakness, expressed by worn-out guitar clichés. The second part – extrapolated and published here – instead reveals a range of six variations conceived with greater inspiration and a more passionate instrumental imagination. The assonance with his contemporary, Fernando Sor (see Op. 15a), in the choice of the key of E minor is interesting: an area that well supports the full sonority of the instrument.