The Great Economic Crisis of 1873 and the Slovenes

  • Peter Vodopivec Inštitut za novejšo zgodovino
Keywords: crisis, 1873, economy, liberalism, capitalism, industry


The author, relying on the findings of H. Rumpler and H. Matis, concludes that the great economic crisis of 1873, as elsewhere in the Hapsburg Empire, did not deeply or radically affect the trends of economic development on the Slovenian territory. A growing indebtedness of the Slovenian farmer was only indirectly linked to the collapse of the Vienna Stock Exchange. Of all the planned railway constructions in Slovenia, the crisis only thwarted the construction of the Dolenjska line. As already pointed out by J. Šorn, the 1873 crisis spelled no tragedy for the development of the national industry, it did, however, strengthen the opponents of a liberal economy and, at the same, encouraged a modern economic mentality that favoured Capitalism.