Austria - Hungary Before World War I
Vienna Ringstrasse -Parliament Building OVERVIEW Austria-Hungary was a multinational, multiethnic empire. It had 11 recognized languages. It promoted, or at least tolerated, internal free trade, economic development and internal mobility in the period 1870-1914. Hungary was a major exporter of agricultural products to the rest of Europe. The railroad network was expanding, helping to tie the Empire together. New industries in metal-working and electrical appliances were established, especially in Bohemia (Czechoslovakia). Major cities had industrial districts. Banks and financial companies raised large amounts of capital to finance development and expansion. Its economy was modernizing but the government bureaucracy, especially in foreign affairs and in the military, were controlled by conservative elements – nobility, royalty and the court, and landed aristocracy. The political structure of dual sovereignty, both between Hungary and Austria, and between central government in V