1. Paths to Power Central and Eastern Europe

2. France after Louis XIV  French resources had been drained by the many wars of Louis XIV  Subsequent rulers struggled with financial and economic issues  1719 – financial management was responsibility of John Law  Scottish mathematician and gambler  Served under Louis XV … economic recovery was goal

3. The Mississippi Bubble  Law believed an increase in paper money would stimulate the economy  Law organized the Mississippi Company  Mississippi Co. also took over management of the French national debt  Company offered shares of its own stock in exchange for government bonds

4.  To exchange large quantities of bonds, Law encouraged speculation in Mississippi Co.  Stock rose … smart investors cashed in … these same investors when paid in paper money sought to exchange it for gold … bank did not have enough gold  All gold payments were halted in France … money became near worthless … Law fled the country  “Mississippi Bubble”, as it was called had burst

5.  This fiasco brought disgrace to the French government  Subsequent monarchs were burdened with this legacy, an ailing economy and royal waste and scandals

6. Great Britain  1714 George I (House of Hanover) became King –Act of Settlement Whigs and Tories Two political “parties” Tories – overtures of peace toward France Whigs sought favor of King George Tories favored “Stuart Pretender” (James Edward) George clearly favored the Whigs

7. Tories v. Whigs  Strong Monarchy  Low taxes for land owners  Firm support of the Anglican Church  Parliamentary emphasis  Urban commercial interests  Religious toleration

8. Robert Walpole  Robert Walpole –Managed economic recovery and stability for George I –Became considered first Prime Minister of GB –Controlled government patronage and managed bureaucracy –“Let sleeping dogs lie”

9. Robert Walpole Let sleeping dogs lie

10. Sweden Sweden had played a major role in the Thirty Years’ War Sweden consolidated control of the Baltic Sea Sweden had one of the better armies in Europe Economic concerns … weak

11. Charles XII Ruled 1697 – 1718 Stubborn and insane Opposed Russian expansion in the Baltic region Great Northern War (1700-1721) Charles led a vigorous and brilliant campaign

12. Great Northern War Sweden defeated Russia at Narva (1700) 1708 invasion of Russia … bogged down in harsh Russian winter (a recurring theme) Charles died in 1718 … war exhausted Swedish resources and Army

13. Outcome of the Great Northern War Russia gained foothold in Baltic Prussia gained Pomerania Swedish nobles quarreled over power and Sweden faded into the European background

14. Russia & Sweden After the Great Northern War

15. POLAND Polish armies had rescued Vienna from a Turkish siege in 1683 Following this glorious effort, Poland faded in influence Internal squabbling amongst nobles and a fierce desire for autonomy prevented centralized authority

16. Diet No king, but the nobles did have a legislature (diet) Nobles ONLY Liberum veto … a single member could demand the body disband … “exploding the diet” Requirement of unanimity doomed Poland Poland disappeared by the end of 1700s

17. Hapsburg Austria Spanish and Austrian branches of the Hapsburg family became officially split after the Treaty of Westphalia Spanish and Austrian branches of the Hapsburg family became officially split after the Treaty of Westphalia Austrian Hapsburgs retained title of Holy Roman Emperor Austrian Hapsburgs retained title of Holy Roman Emperor Hapsburgs used military to extend power into Netherlands and northern Italy Hapsburgs used military to extend power into Netherlands and northern Italy

18. Pragmatic Sanction Hapsburg line eventually ran out of heirs after Charles VI (1711-1740) Hapsburg line eventually ran out of heirs after Charles VI (1711-1740) Pragmatic Sanction Provided the legal basis for a single line of inheritance through Charles VI’s daughter Maria Theresa Pragmatic Sanction Provided the legal basis for a single line of inheritance through Charles VI’s daughter Maria Theresa This worked for political stability, but foreign aggression was a threat This worked for political stability, but foreign aggression was a threat

20. Prussia and the Hohenzollerns Hohenzollerns took territory in Brandenburg and expanded it into the large entity called Prussia (among German states of HRE) Hohenzollerns took territory in Brandenburg and expanded it into the large entity called Prussia (among German states of HRE) Second only to the Hapsburgs in HRE Second only to the Hapsburgs in HRE

21. Frederick William, The Great Elector 1640-1688 … forged Prussia into a modern state 1640-1688 … forged Prussia into a modern state Junkers – Prussian nobles – supported Frederick in taxation and military ventures against Poland and Sweden in return for his support of their holdings and rights regarding their surfs Junkers – Prussian nobles – supported Frederick in taxation and military ventures against Poland and Sweden in return for his support of their holdings and rights regarding their surfs

22. Frederick William I Son of the Great Elector (r. 1688-1713) Son of the Great Elector (r. 1688-1713) Built a great army that soon became the trademark of Prussian power Built a great army that soon became the trademark of Prussian power Frederick William seldom used the army, the mere threat of it worked wonders Frederick William seldom used the army, the mere threat of it worked wonders Army was symbol of power and instrument of pride and national unity Army was symbol of power and instrument of pride and national unity

23. Frederick William I