Holy Roman Empire

Chapter 31: Chapter 31, Measures

Translator: Nyoi-Bo Studio Editor: Nyoi-Bo Studio

Metternich’s proposal was as if never spoken, for except for his supporters, it was as if no one else had heard it.

At this time, abolishing the serfdom system also involved risks, and should it be mishandled, the local Nobility could rise in revolt.

Since ancient times, it has been easy to cut others’ flesh but difficult to cut one’s own.

Moreover, to restore market confidence, simply abolishing serfdom was not enough. A series of noble privileges must be canceled, and perhaps even land distribution would become necessary, for otherwise where would the serfs get their purchasing power?

Only by abolishing a series of restrictions that impede economic development and further reducing the cost of merchandise circulation to unleash a larger market could one escape the economic crisis.

Such large concessions were unlikely to be effective even if they were agreed upon by the few, as the Nobility class would never agree.

The abolition of serfdom was negotiable, but the thought of distributing their lands should be dismissed; however, with enough money offered, negotiation was not impossible.

The cancellation of noble privileges was also possible, but such things required time, step by step. If one tried to force a drastic change all at once, it would be easy to fall.

Unless, with further development of productive forces, the government paid for land redemption. Coercion was out of the question, as long as the army remained in the hands of the Nobility, there was no possibility of using forceful methods.

Such radical measures, of course, Metternich dared not use. At most, the abolition of serfdom could be proposed, thus liberating the productive forces of the people.

“Your Excellency, the Prime Minister, if we announce the abolition of serfdom now, perhaps tomorrow you will receive news of Hungary’s independence!” said Archduke Louis very bluntly. Metternich’s insistence on serf abolition had been fruitful; by 1848, many Austrian Nobles had released their serfs.

But this was limited to core areas of Austria, where the Vienna Government had stricter control over the localities and made considerable efforts with the Nobility after issuing the decree to abolish serfdom.

That was also why Metternich was unpopular. Because of his reputation, many Austrian Nobles, including members of the royal family, had freed their serfs.

The local Nobility was different; they acted as their own sovereigns, often treating the Central Government’s directives as toilet paper. The Vienna Government also lacked the resolve to enforce them consistently.

Even Prime Minister Metternich often used the abolition of serfdom as a threat to intimidate Hungarian Nobles, forcing them to make political concessions.

Abolishing serfdom at this time could indeed satisfy the bourgeoisie, but it would provoke the Hungarians into rebellion, and rebellions might also occur in other regions.

The government compensating the Nobility for their losses was even more out of the question, as the Austrian Central Government’s finances were just breaking even, and any surplus was lining the pockets of the bureaucracy.

“Gentlemen, we can discuss this matter later. Right now, let’s address the urgent issue at hand; if we do not take action soon, it will be too late!” Franz Anton von Kolowrat-Liebsteinsky interrupted the dispute between the two men.

The Austrian Regency Council consisted of Metternich, Archduke Louis, Archduke Franz Karl, and Kolowrat, but Archduke Franz Karl had no political ambition whatsoever (mainly due to a lack of ability to engage in politics).

In politics, Kolowrat and Metternich were rivals, but that didn’t mean they couldn’t cooperate. Many times, they still shared the same political views.

Even if it was opposition for the sake of opposition, their struggles had not yet reached a life-or-death extent. For example, right now, his political views were very close to those of Prime Minister Metternich.

However, as a political opponent, do not expect him to help Metternich. Not causing trouble was the biggest help he could offer.

Seeing that even Archduke Louis could not be persuaded, Metternich could only sigh helplessly.

If his own people did not agree, how could he expect the local Nobility to agree?

Once the abolition of serfdom caused local rebellions, the trouble would be immense.

Such a political disaster was something Metternich could not shoulder alone; at the very least, he would need the support of the Regency Council to stand a chance of overcoming the crisis.

“Well then, let’s start by making arrests!”

Making this reluctant decision, Metternich felt very troubled. He knew the capitalists had no way out.

If the economic crisis erupted and could not be resolved, then they would face bankruptcy. To avoid bankruptcy, they would have to break the current social order.

His counterparts in France had already set an example, shattering the crisis with a revolution and freeing the bourgeoisie’s economic development from its shackles.

For instance: they took advantage of the revolution to eliminate the bankers, and naturally, the debts disappeared along with them.

Without debts, hoarding was no longer a fear. If there was no rush to sell and no banks demanding loan repayments, nobody would go bankrupt.

Or even more directly, they could let the government pay the bill, using public funds to purchase these goods and shifting the crisis onto the government.

Their counterparts in the United States had done just that, although they went one step further. It wasn’t that the government directly purchased the materials, but rather provided rescue funds.

The broken financial chains were reconnected, pushing the economic crisis further into the future, buying time for retreat. In the end, the ones left holding the bag were the unlucky successors.

Austria had not yet evolved to that step; before the abolition of serfdom, they couldn’t even find a scapegoat. The working class was exploited too harshly and didn’t even qualify to participate in the market.

The stock market in Vienna was now just a playground for the wealthy; the poor didn’t even qualify to open an account.

The stock market transactions of this era were all manually operated, and the labor costs were extremely high. A few Pennies weren’t even enough to cover labor costs, naturally disqualifying one from opening an account.

Following the Vienna Government’s order, the secret police mobilized overnight to arrest the organizers of the protest marches.

Clearly, this was not the right decision. The organizers brought to the forefront today were merely pawns, and the real power players would not be on the front lines.

The easiest to find were the student representatives, as there were only so many universities in Vienna with very specific locations. Unfortunately, no one wanted to take on this task.

The doors of Vienna University were not easily entered, serving as a stronghold of anti-government forces, where the rebellious youth were mainly government opponents, with the remainder being Nobility reformists.

Now Chief Winston was troubled. Though the suspects were inside the schools, they couldn’t even enter the gates. Unquestionably, the school authorities were resisting government law enforcement.

Yet, forcibly entering the university would have grave consequences. The lecturers and students inside were no ordinary people; the least distinguished

among them were from families of small merchants, lawyers, and doctors.

The working class, clinking with poverty, couldn’t afford tuition fees, and farmers were even less likely to, with the majority still being serfs.. What schooling could they speak of?

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