History for ready reference, Volume 6 : $b Recent history - 1894-5 to 1901 A-ZLarned, J. N. (Josephus Nelson)
History
History for ready reference, Volume 6 : $b Recent history - 1894-5 to 1901 A-Z
Larned, J. N. (Josephus Nelson)
History -- Dictionaries
On the 26th of October the writer summarized a report that day
published by the Vienna Stock Exchange Committee, as
furnishing "fresh evidence of the disastrous effects of the
prolonged internal political crisis." "The report begins by
stating that the Vienna Stock Exchange, formerly the leading
and most important one in Europe, and which, in consequence of
the geographical situation of the town, was called upon to be
the centre of financial operations with the Near East, has for
years past been steadily declining. Every year the number of
those frequenting the Bourse diminishes, and there has been an
annual decrease in the amount of capital that has changed
hands. Of late years, and particularly within the last few
months, this has assumed such dimensions that it has become an
imperative duty for the competent authorities to investigate the
causes of the evil and to seek a remedy. It is recognized that
the deplorable domestic situation has largely contributed to
the decline of the Bourse. The deadlock in the Legislative
Assembly has occasioned stagnation in industry and commerce,
whereas outside the Monarchy there has been an unprecedented
development of trade. Further prejudice has been caused by
what is called in the report the anti-capitalist tendencies,
which represent all gains and profits to be ill-gotten. The
profession of merchant has been held up by unprincipled
demagogues as disreputable. The authorities are reproached
with having encouraged those tendencies by undue tolerance."
Early in November, the Vienna letters began accounts of the
electioneering campaign then opening, though elections for the
new House were not to take place until the following January:
"Every day," wrote the correspondent, "brings its contingent
of electoral manifestos, and all parties have already had
their say. Unfortunately, nothing could be less edifying. It
may be said of them all that they have profited little by
experience, and it is vain to search for any indication of a
conciliatory disposition among Czechs or Germans, Liberals or
Clericals. One and all are as uncompromising as ever, and
neither the leaders nor the rank and file are prepared to
reckon with the real exigencies of the situation, even to save
their own Parliamentary existence. The feudal nobility, who
stand aloof from Parliamentary strife, have alone lost nothing
of their position and influence. They disdainfully refuse to
take either the requirements of the State or the legitimate
wishes of the Crown into account. They are preparing in
alliance with Ultramontanism to hold their own against the
coming storm. Their action in the pending electrical campaign
is of an occult nature; their proceedings are seldom reported
by the newspapers, and when they meet it is by groups and
privately.
Public-domain text, read in full here on John Shaqi.
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