Holy Roman Empire

Chapter 21 The Economic Crisis

Unable to persuade a few old foxes, Ham was not angry. He knew that these people were already tempted, but he was afraid to speak because he was timid.

He is also not a revolutionary, but only for the benefit of the Revolutionary Party. If he can achieve his goal by peaceful means, would a fool want to rebel?

This is Continental Europe. What if the rebellion is successful?

Wanghou Jiang Xiangning kind of kind?

The answer is: yes!

Successfully, at most, became the president of the bourgeois republic, sitting in this position, I am afraid it is not as comfortable as he is now.

If it fails, it is estimated that the exile is the best ending.

In the face of the cruel reality, Ham's already low revolutionary enthusiasm has become even lower.

Like most capitalists, it is okay to support the Revolutionary Party. It would be a good idea to lead the revolution in person, and they do not want to be president.

...

The banquet is very difficult to keep secret. The story of the Veris Estate on the outskirts of Vienna was quickly passed to Metternich. Of course, the content of the subsequent secret meeting is not included.

However, Prime Minister Metternich is a regular man. He strictly adheres to the bottom line of the political struggle. He has not taken advantage of the topic to arrest the capitalists who participated in the banquet on the charge of colluding with the revolutionary party.

Because of compliance, I am troubled.

Knowing that the capitalists are conspiring, but can only passively defend, Prime Minister Metternich's mood can't be better.

It is more appropriate to describe his situation with an internal worry and an external trouble. There are nobles inside and outside, and capitalists outside are watching. Everyone has a common purpose to let him get out.

Since the winter of 1847, the people of Vienna have had an intuitive feeling that prices have risen, and they have risen sharply at a rate visible to the naked eye.

By the end of December 1847, prices in Vienna had risen by 47%, and the capitalists were testing the limits of the people bit by bit.

At this time, everyone turned their attention to the Vienna government and looked forward to the government's solution.

Obviously, everyone is disappointed, the Vienna government does not have the ability to intervene in prices, or functions.Although Prime Minister Metternich has taken several measures, it has had little effect in the end.

For example, the government posted a notice that ordered businessmen not to drive up prices, which turned out to be useless.

Another example: the Prime Minister failed to interview the capitalists many times.

The government also seized the time and mobilized supplies from outside to enter Vienna in an attempt to quell prices. Unfortunately, under the resistance of the capitalists and the corrosion of the nobility inside, it eventually failed.

Of course, it is not completely ineffective. At least the rate of price increase has been suppressed, and there has not been a one-time climb to the peak.

After the last failure, the capitalists did not trust much internally. Seeing that it was profitable, many small capitalists with weak strength could not wait for the moment when prices were at their peak.

Everyone is selfish. Franz knows that behind the large price rises in Vienna, there is the participation of nobles, but they are all spontaneous actions for profit, and they have not participated in the joint actions of the capitalists.

The initial thoughts of these people may just want to take the opportunity to make a fortune, but now, wealth is gradually confusing people's eyes, and many people are stuck in it, unable to extricate themselves.

However, their luck was not so good, just caught up with the European economic crisis.

Starting in 1845, the European region was short of food and the international food price skyrocketed. With the increase in food prices, the already affluent European people spent a lot of money on meals, and the European purchasing power market continued to shrink.

In 1846, the price of cotton spinning products in the United States nearly doubled, and the high price caused the sales of cotton spinning products to decline.

With the decline in merchandise trade, capitalists naturally chose to lay off workers, the unemployment population in the UK continued to grow, and railway freight volume continued to hit new lows. Many railway companies were in a loss. The British railway bubble burst in the autumn of 1847.

The capitalist world has always been triggered by the whole body, the railway bubble burst, the railway under construction has also been shut down, and the demand for steel has declined.

The crisis soon spread to the steel and coal industries, with 58 of the 137 ironmaking furnaces in Staffordshire shut down.Pig iron production fell by a third in a month to a month and a half, and coal production fell by nearly two layers.

In November 1847, in Lancashire, one of the centers of the British textile industry, 200 of the 920 cotton textile factories were completely closed, and the rest of them started for 2-4 days a week.More than 70% of workers suffer from unemployment, or semi-unemployment.

The industrial crisis that broke out in Britain did not attract the attention of Austrian capitalists. Neither the British economic crisis of 1825 nor the economic crisis of 1837 affected Austria.

As a non-industrialized country, even if an industrial crisis is to break out, the possibility of an economic crisis is also infinitely low.

Many people have forgotten that Austria is no longer what it used to be. As a semi-industrialized country, Austria is no longer able to survive its economic crisis.

The French were the first to be unlucky. After the British economic crisis broke out, in order to survive the crisis, British capitalists began to dump materials overseas, and the unexpected French became the first wave of victims.

As of 1848, French industrial production fell by 50%.

The German region is no exception, because of its weak industrial strength and greater impact.

In the winter of 1847, 3000 of Klefeld's 8000 looms were shut down. In the first half of 1848, only 3 of the 14 factories in Cologne started construction, and almost all of the industry in Erfurt was annihilated.

Austrian capitalists cried, and the nobles who wanted to take advantage of the fire also cried. In order to calm prices, the Vienna government lowered import tariffs, and a large number of British cheap goods came.

To raise prices also requires money. In the face of dumping in an industrial country, Austrian capitalists said that they were not fools, and the brilliant capitalists chose to retreat in the first place.

In January 1848, in addition to the relatively firm food prices in Vienna, all industrial and commercial product prices collapsed. Everyone in the crisis was overwhelmed. Who can take care of others?

Capitalists who run fast can also use the time difference to stop losses, and capitalists who run slowly can be directly locked.

Supply exceeds demand, and the prices of industrial and commercial products on the Vienna market have fallen below their production cost prices, and capitalists and nobles who have driven up prices have been forced to endure pain.

Everyone knows that the economic crisis is coming. In order to reduce losses, capitalists have begun to lay off employees. More capitalists have suffered heavy losses in this crisis and even simply closed factories. Unemployed people in Vienna have risen sharply.