Kossuth is not engaged in economics, and the top level of the republican government also lacks economic savvy leaders. They have never thought about what 200 million dong means to Hungary!
They don't know, and it doesn't mean that everyone sitting here doesn't know either. Howell, the representative of the banking group, asked:
"Mr. Kossuth, do you know what 200 million dong means?"
This question directly confused Kossuth. He also thought that these big nobles and big capitalists would bargain, but he did not expect them to ask this question.
Calculated in terms of currency value, 1 dong is about 11.69 grams of silver, and 200 million dong is 46.76 million taels of silver. Silver has not depreciated in this era, and it is more than 20 million in pounds. (Gold and silver around 1:10)
In 1847, Austria's fiscal revenue was only 155 million guilders (except Hungary), and the British's fiscal revenue was only more than 50 million pounds.
In Hungary before the revolution, the revenue of 100 million dong was not bad. After the establishment of the republican government, the wealth of 100 million dong was spent.
The money is basically the sale of a large number of state-owned assets, plus government taxes. (The emperor's property and the public property of the whole people)
No one has raised this question before, that is, everyone is a vested interest, buying property at a low price, and no one will refuse to send money to the door.
It doesn't matter if you don't know. The first element of a politician is thick skin. If you want to be shameless, don't be a politician, especially a politician in a republic.
"Of course, 200 million dong is indeed a large number, but for everyone sitting here, it is not impossible to come up with it!" Kosuth replied calmly.
Indeed, for the people sitting, not to mention 200 million dong, even if it is increased by three or five times, they can still afford it.
Affordable and willing to take out, these are completely two concepts, no one wants to take their own money out, even if the interest is high, they can't stand borrowing and not repaying it
According to the speed of spending by the new government, no amount of money can fill this bottomless pit, which is why many revolutionary governments in the world fail.
An idealized government wants to do too many things, and as a result, the country is hollowed out first.
"Mr. Kossuth, when you were in school, you probably failed in the economy. Please check how many currencies are in circulation in the Hungarian market, and then answer this question!" Howell sneered.
How much wealth there is does not mean how much money there is. In fact, the currency in circulation in the market is also limited. Too much currency in circulation will depreciate, and if there is less currency in circulation, money panic will occur.
From the point of view of economics, if 200 million rupiah of currency is withdrawn from Hungary at once, there will be a money panic in Hungary, followed by a run crisis - bank bankruptcy - financial crisis - the Great Depression.
This era is no different than later generations. Everyone plays credit currency, and it is enough to transfer money directly in the bank. To buy bonds, you have to take cash.
(Data: In 1848, the total national savings of Austria was 48 million guilders, and the United Kingdom was 28.2 million pounds, 1 pound ≈ 9.6 guilders)
There is no doubt that Kossuth is a shame this time, or that his team is all novices and made such an obvious mistake.
Of course, there are still many people who have made similar mistakes. This is the commonality of slanderers. When thinking about problems, they are often very one-sided.
…
Before Kossuth could solve the financial problems, the war had already begun.
On May 8, 1848, Austrian troops in the Croatian province took the lead in attacking the Republic of Hungary.
On May 9, Austrian troops on both sides of Bohemia and Transylvania also attacked the Hungarian Republic.
On May 10, the anti-insurgency army led by Albrecht arrived at the front, and the Austro-Hungarian War started in full swing.
If there is no refueling tactic, this time Kossuth's prophecy has come true. The four-way army launched an attack at the same time. If the logistics transportation force is added, the total force has really exceeded 400,000.
Of course, only half of the troops that actually went into the attack were at most, and even the Republic of Hungary could not hold back.
Vienna
The Hungarian battlefield is a good news, and under absolute strength, it is no longer possible to reverse the unfavorable situation by shouting slogans.
In order to ensure victory, Franz also transferred back the commander-in-chief of the Bohemian army, Prince Wendischgritz, as the Minister of War, and replaced Julius as the commander-in-chief on the grounds of overall needs.
Prince Wendischgritz picked up the baton and pointed at a map on the wall with high spirits:
"His Royal Highness, the Croatian Army, led by Governor Josip Jelacic, has now reached Lake Balaton and conquered Balaton Kelestur;
The Austrian Army, led by General Albrecht, was attacking Fort Kaop;
The Bohemian Army led by General Julius had just defeated the Hungarian People's Army and was now less than 100 kilometers away from Budapest;
The Transylvanian corps led by General Vinguigre was still in Debrecen at this time because of traffic.
Overall, so far, the counter-insurgency war has gone very smoothly. The Bohemian Legion has 100,000 troops. If it goes well, the Budapest siege can be launched at most the day after tomorrow. "
He has reason for pride, and the war was fought under his leadership. Of course, because of the communication in this era, the War Department is actually only formulating a strategy.
How to fight, is still the real general, and the military orders are not subject to it.
Franz did not rush to a conclusion about the military capabilities of Prince Wendischgritz. Although he lost in the suppression of the Hungarian rebellion in history, the battle plan he made now is still feasible.
"The operational plan to attack Budapest is postponed, and it is enough to let General Julius suppress the enemy, and wait for the Austrian Legion to join them before launching the attack!"
Don't look at the Hungarian chaotic party being easy to bully. Historically, the Austrian army overturned at the last minute, and finally asked the Russians to help with the aftermath.
At least the most powerful student army in the Hungarian Republic has not yet appeared on the battlefield.
Franz is also not clear about the popular sentiment of the Hungarian Republic now. If the people fully support the government, then Budapest will be an asura field.
"His Royal Highness, the chaotic party is a group of rabble, at most one week, we can conquer Budapest and suppress this rebellion!"
Prince Wendischgritz said excitedly, as if he was accusing Franz of meddling in military affairs and delaying fighter jets.
Franz explained calmly: "Your Excellency, the military serves politics, and war is only a means, not an end."