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6
come only six years later.
Similar, but more dramatic prob-
lems could be observed in the econ-
omy of the Habsburg monarchy.
The development of the Austrian
economy was in a quite critical situ-
ation. Between the years 1848 and
1859 the average expenditures for
the military were nearly two thirds
of the national budget. After the war
of 1859 Austria had liabilities of
more than three billion Gulden, so
that in spring 1860 Austria was on
7
the verge of economic collapse.
To avoid a financial crash it was
necessary to take up high loans
which made it difficult to gain suc-
cessful economic development sim-
ilar to these in Prussia, France or
Anton Ritter von Schmerling
Great Britain.
Between 1863 and 1873 Austria
suffered from economic crises and social problems, which severely cut the
freedom of action and the options of the Austrian government. In spite of all
these problems there were some progresses, especially in the railway sector
and scientific and technical proceedings.
A further problem was the necessary and quitw overdue reform of the
Austrian fighting forces.
Recruitment, training and equipping the army was in a dire situation after
the defeat of 1859.
Without doubt, there was no real improvement in the social situation of the
Officers Corps, so most officers of the lower ranks without nobility often
remained hungry and poor after the defeat of 1859. Also the situation of the

6 Bertrand Michael Buchmann, Hof – Regierung – Stadtverwaltung. Wien als Sitz der öster-
reichischen Zentralverwaltung von den Anfängen bis zum Untergang der Monarchie. Wi-
en-München 2002. pgg. 118-123
7 Roman Sandgruber, Ökonomie und Politik. Österreichische Wirtschaftsgeschichte vom
Mittelalter bis zur Gegenwart. Wien 2005, pgg.237-260.