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    STUDIA HISTORIA - Issue no. 1-2 / 2003  
         
  Article:   THE AUSTRIAN EMPIRE’S EFFORTS OF ECONOMIC MODERNIZATION AND FINANCIAL REVIVAL BETWEEN 1853 - 1854: THE 1854 INTERNAL LOAN BASED ON PUBLIC SUBSCRIPTIONS AND TRANSYLVANIA’S ROLE.

Authors:  MARIN IOSIF BALOG, LORÁND MÁDLY. 		 
       
         
  Abstract:  The Austrian Empire’s Efforts of Economic Modernization and Financial Revival between 1853-1854: The 1854 Internal Loan Based on Public Subscriptions and Transylvania’s Role. The 1854 state loan was one of the most important economic measures taken by the neo-absolutist regime in order to improve the financial situation of the state. Facing many and complex financial difficulties, the Austrian state tried to draw money from the population, in order that it circulated and revive currency-based economic activities. The loan was accompanied by a wide official propaganda, initiated by the state, press and other means of propaganda. The wide official propaganda, launched in the Romanian, German and Hungarian press, was focused on two main elements: economic bases of the loan and political reasons. The decree concerning the opening of the loan fund stipulated that the total sum would be at least 350 million florins and at most 500 millions, collected between July 20 - August 19 and the deadline could be postponed if the minimum sum was not gathered. In spite of the initial enthusiasm, they were compelled to postpone the deadline twice. On September 1, 1854, the state loan subscription was closed. The total sum was of 506,788,477 florins, to which Transylvania had contributed with 13,434,354 florins.  
         
     
         
         
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