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Austro-Hungarian Bank

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The Austro-Hungarian Bank ( German : Oesterreichisch-ungarische Bank , Hungarian : Osztrák–Magyar Bank , Czech : Rakousko-uherská banka , Polish : Bank Austriacko-Węgierski , Serbo-Croatian : Austro-Ugarska banka , Italian : Banca austro-ungarica , Ukrainian : Австро-Угорський банк ) was the central bank of the Habsburg Monarchy in the 19th and early 20th centuries.

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117-720: The institution was founded in 1816 as the privilegirte oesterreichische National-Bank ( lit.   ' Privileged Austrian National Bank ' ), and changed its name in 1878 as a delayed consequence of the Austro-Hungarian Compromise of 1867 . It was liquidated in the financial turmoil following the collapse of the Habsburg Monarchy in late 1918, and was principally succeeded by the Oesterreichische Nationalbank in Vienna ,

234-463: A humid subtropical ( Köppen : Cfa ) classification. The city has warm, showery summers, with average high temperatures ranging between 25 to 27 °C (77 to 81 °F) and a record maximum exceeding 38 °C (100 °F). Winters are relatively dry and cold with average temperatures at about freezing point. Spring is variable and autumn cool, with a chance of snow in November. Precipitation

351-501: A Governor, but a dual operating structure with two separate executive teams ( German : Direktionen ) and head offices ( German : Hauptanstalten ) in Vienna and Budapest . The governor was to be jointly nominated by the respective ministers of finance of Austria and Hungary , and the bank was statutorily committed to opening new branches on an equitable basis in both parts of the Habsburg Monarchy. Hungarian nationalists were not satisfied by these arrangements and kept advocating for

468-644: A decline in the Viennese population. After World War II, the Soviets used force to repatriate key workers of Czech, Slovak and Hungarian origins to return to their ethnic homelands to further the Soviet bloc economy. The population of Vienna generally stagnated or declined through the remainder of the 20th century, not demonstrating significant growth again until the census of 2000. In 2020, Vienna's population remained significantly below its reported peak in 1916. Under

585-776: A different, probably Slavonic origin, and originally referred to an Avar fort in the area. Slovene speakers call the city Dunaj , which in other Central European Slavic languages means the river Danube , on which the city stands. Duchy of Austria 1156–1453 [REDACTED] Archduchy of Austria 1453–1485, 1490–1804 [REDACTED]   Principality of Hungary 1485–1490 [REDACTED]   Austrian Empire 1804–1867 [REDACTED]   Austria-Hungary 1867–1918 [REDACTED]   First Austrian Republic 1919–1934 [REDACTED]   Federal State of Austria 1934–1938 [REDACTED]   Nazi Germany 1938–1945 [REDACTED] Allied-occupied Austria 1945–1955 [REDACTED]   Austria 1955–present In

702-705: A few more days until the Soviet Navy ’s Danube Flotilla naval force arrived with reinforcements. The remaining defending soldiers surrendered that same day. After the war, Vienna was part of Soviet-occupied Eastern Austria until September 1945. That month, Vienna was divided into sectors by the four powers: the US, the UK, France, and the Soviet Union and supervised by an Allied Commission . The four-power occupation of Vienna differed in one key respect from that of Berlin:

819-642: A major prestige project. Former suburbs were incorporated, and the city of Vienna grew dramatically. In 1918, after World War I , Vienna became capital of the Republic of German-Austria , and then in 1919 of the First Republic of Austria . From the late-19th century to 1938, the city remained a center of high culture and of modernism . A world capital of music, Vienna played host to composers such as Johannes Brahms , Anton Bruckner , Gustav Mahler , and Richard Strauss . The city's cultural contributions in

936-642: A novel and published it. Occupied Vienna is also depicted in the 1991 Philip Kerr novel, A German Requiem . The four-power control of Vienna lasted until the Austrian State Treaty was signed in May 1955 and came into force on 27 July 1955. By October, all soldiers had left the country. That year, after years of reconstruction and restoration, the State Opera and the Burgtheater , both on

1053-730: A period of Greater German ambitions , when Austria tried to establish itself as the leading German power, Austria again needed to redefine itself to maintain unity in the face of nationalism. As a consequence of the Second Italian War of Independence and the Austro-Prussian War , the Habsburg Empire was on the verge of collapse in 1866, as these wars caused monumental state debt and a financial crisis. The Habsburgs were forced to reconcile with Hungary, to save their empire and dynasty. The Habsburgs and part of

1170-582: A recognized right to refuse to carry out any "unlawful" (unconstitutional) royal orders. Thus, it was possible to question the legality of a surprisingly high proportion of the royal orders which emanated from Vienna. While in most Western European countries (like France and the United Kingdom) the king's reign began immediately upon the death of his predecessor , in Hungary the coronation was absolutely indispensable as if it were not properly executed,

1287-528: A riot broke out in the city. The protestors, enraged by the decision, set the Palace of Justice ablaze. The police attempted to end the revolt with force and killed at least 84 protestors, with 5 policemen also dying. In 1933, right-wing Chancellor Engelbert Dollfuss dissolved the parliament , essentially letting him run the country as a dictatorship , banned the Communist Party and severely limited

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1404-567: A separate Hungarian central bank, but their efforts remained unsuccessful until the end of the joint monarchy. An 8-year transition from bimetallism to the gold standard , replacing the Austro-Hungarian gulden with the Austro-Hungarian krone , was completed in 1900. Another renewal of the bank's issuance privilege, on 21 September 1899, curtailed its prior independence. Even so, the Austro-Hungarian currency's gold parity

1521-591: A third of its population. In 1804, during the Napoleonic Wars , Vienna became the capital of the newly formed Austrian Empire . The city continued to play a major role in European and world politics, including hosting the Congress of Vienna in 1814–15. The city also saw major uprisings against Habsburg rule in 1848 , which were suppressed. After the Austro-Hungarian Compromise of 1867 , Vienna remained

1638-659: A widespread prehistorical cult of Vindos , a Celtic deity who survives in Irish mythology as the warrior and seer Fionn mac Cumhaill. A variant of this Celtic name could be preserved in the Czech , Slovak , Polish and Ukrainian names of the city ( Vídeň , Viedeň , Wiedeń and Відень respectively) and in that of the city's district Wieden . The name of the city in Hungarian ( Bécs ), Serbo-Croatian ( Beč , Беч ) and Ottoman Turkish ( بچ , Beç ) has

1755-728: Is borrowed from the homonymous Italian name. The German name Wien comes from the name of the river Wien , mentioned ad UUeniam in 881 ( Wenia- in modern writing). The name of the Roman settlement on the same emplacement is of Celtic extraction Vindobona , probably meaning "white village, white settlement" from Celtic roots, vindo- , meaning "white" (Old Irish find "white", Welsh gwyn / gwenn , Old Breton guinn "white, bright" > Breton gwenn "white"), and -bona "foundation, settlement, village", related to Old Irish bun "base, foundation" and Welsh bon , same meaning. The Celtic word vindos may reflect

1872-456: Is completely surrounded by Lower Austria , and lies around 50 km (31 mi) west of Slovakia and its capital Bratislava , 60 km (37 mi) northwest of Hungary , and 60 km (37 mi) south of Moravia ( Czech Republic ). The once Celtic settlement of Vedunia was converted by the Romans into the castrum Vindobona (province of Pannonia ) in the 1st century, and

1989-676: Is considered the intellectual force behind the Compromise. Deák initially wanted independence for Hungary and supported the 1848 Revolution, but he broke with hardline nationalists and advocated a modified union under the Habsburgs. Deák believed that while Hungary had the right to full internal independence, the terms of the Pragmatic Sanction of 1723 made questions of defence and foreign affairs "common" to both Austria and Hungary. The Pragmatic Sanction of 1723 had great impact on

2106-467: Is generally moderate throughout the year, averaging around 600 mm (23.6 in) annually, with considerable local variations, the Vienna Woods region in the west being the wettest part (700 to 800 mm (28 to 31 in) annually) and the flat plains in the east being the driest part (500 to 550 mm (20 to 22 in) annually). Snow in winter is common, even if not so frequent compared to

2223-500: Is perhaps most well known for its Gemeindebauten , public housing buildings. Between 1925 and 1934, over 60,000 new apartments were built in the Gemeindebauten. Apartments were assigned on the basis of a point system favoring families and less affluent citizens. In July 1927 , after three nationalist far-right paramilitary members were acquitted of the killing of two social democratic Republikanischer Schutzbund members,

2340-612: Is plentiful. Remains of the military camp have been found under the city, as well as fragments of the canal system and figurines. Close ties with other Celtic peoples continued through the ages. The Irish monk Saint Colman (or Koloman, Irish Colmán , derived from colm "dove") is buried in Melk Abbey and Saint Fergil (Virgil the Geometer) served as Bishop of Salzburg for forty years. Irish Benedictines founded twelfth-century monastic settlements; evidence of these ties persists in

2457-413: Is the capital, most populous city , and one of nine federal states of Austria . It is Austria's primate city , with just over two million inhabitants. Its larger metropolitan area has a population of nearly 2.9 million, representing nearly one-third of the country's population. Vienna is the cultural , economic , and political center of the country, the fifth-largest city by population in

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2574-600: Is the seat of the Metropolitan Roman Catholic Archdiocese of Vienna , in which is also vested the exempt Ordinariate for Byzantine-Rite Catholics in Austria; its Archbishop is Cardinal Christoph Schönborn . Many Catholic Churches in central Vienna feature performances of religious or other music, including masses sung to classical music and organ. Some of Vienna's most significant historical buildings are Catholic churches, including

2691-961: The Austrian Armed Forces shelled the Karl-Marx-Hof , a civilian housing estate, and the Schutzbund surrendered. On 15 March 1938, three days after German troops had first entered Austria, Adolf Hitler arrived in Vienna. 200,000 Austrians greeted him at the Heldenplatz , where he held a speech from a balcony in the Neue Burg, in which he announced that Austria would be absorbed into Nazi Germany . The persecution of Jews started almost immediately, Viennese Jews were harassed and hounded, their homes and businesses plundered. Some were forced to scrub pro-independence slogans off

2808-609: The Austrian Empire . The compromise put an end to the 18-year-long military dictatorship and absolutist rule over Hungary which Emperor Franz Joseph had instituted after the Hungarian Revolution of 1848 . The territorial integrity of the Kingdom of Hungary was restored. The agreement also restored the old historic constitution of the Kingdom of Hungary. Hungarian political leaders had two main goals during

2925-483: The Empire of Austria in which most his so-called Erblande lands were included. However the new Erblande term was not applied to Kingdom of Hungary In doing so he created a formal overarching structure for the Habsburg Monarchy, which had functioned as a composite monarchy for about 300 years. (Composite states/monarchies were the most common / dominant form of states in early modern era Europe. ) The Holy Roman Empire

3042-750: The European Union , and the most-populous of the cities on the Danube river . The city lies on the eastern edge of the Vienna Woods ( Wienerwald ), the northeasternmost foothills of the Alps , that separate Vienna from the more western parts of Austria, at the transition to the Pannonian Basin . It sits on the Danube , and is traversed by the highly regulated Wienfluss ( Vienna River ). Vienna

3159-830: The Hungarian National Bank in Budapest , the National Bank of Czechoslovakia in Prague , and the National Bank of the Kingdom of Serbs, Croats and Slovenes in Belgrade . The first note-issuing institution in the Habsburg Monarchy was the Municipal Bank of Vienna or Wiener Stadtbank , established in 1706. It started issuing banknotes in 1762, which were known as "Bancozettel". During

3276-555: The Hungarian National Bank . It was designed by architect Ignác Alpár , with sculpture by József Róna and Károly Senyei  [ hu ] . Its interiors were much altered after World War II ; a major renovation was undertaken in 2021, with the aim to reopen the building by the National Bank's 100th anniversary in 2024. By 1914, the Austro-Hungarian Bank had 104 branches and 179 local offices throughout

3393-470: The Kingdom of Hungary , several ethnic minorities faced increased pressures of Magyarization . Further, the renegotiation that occurred every ten years often led to constitutional crises. Ultimately, although the Compromise hoped to fix the problems faced by a multi-national state while maintaining the benefits of a large state, the new system still faced the same internal pressures as the old. To what extent

3510-413: The Kingdom of Hungary . The Cisleithanian (Austrian) and Transleithanian (Hungarian) states were governed by separate parliaments and prime ministers. The two countries conducted unified diplomatic and defence policies. For these purposes, "common" ministries of foreign affairs and defence were maintained under the monarch's direct authority, as was a third finance ministry responsible only for financing

3627-454: The Napoleonic Wars , the imperial Austrian government issued paper money of its own and rapidly increased its supply to finance the war effort, causing inflation . After peace was restored by the Congress of Vienna , and on advice from statesman Johann Philipp Stadion , Emperor Francis I established the privilegirte oesterreichische National-Bank by imperial patent on 1 June 1816. Its shareholders were private individuals, in contrast to

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3744-734: The Principality of Transylvania would be reestablished. Austrian Prime Minister Prince Felix of Schwarzenberg and his government, operating from November 1848, pursued a radically new imperial policy. It wanted to develop a uniform empire in the spirit of the imperial constitution issued by Franz Joseph I in Olmütz on 4 March 1849, and as a result, Hungary's constitution and territorial integrity would be abolished. The centralist March Constitution of Austria introduced neo-absolutism in Habsburg ruled territories, and it provided absolute power for

3861-771: The Ringstraße , reopened to the public. In the Autumn of 1956, Vienna accepted many Hungarian refugees , who had fled Hungary after an attempted revolution . The city experienced another wave of refugees after the Prague Spring in Czechoslovakia in 1968, as well as after the collapse of Yugoslavia in 1991. In 1972 the construction of the Donauinsel and the excavation of the New Danube began. In

3978-744: The Soviet air force . Only after the Allies had taken Italy did the next raids commence. From 17 March 1944, 51 air raids were carried out in Vienna. Targets of the bombings were primarily the city's oil refineries . However, around a third of the city center was destroyed, and culturally important buildings such as the State Opera and the Burgtheater were burned, and the Albertina was heavily damaged. These air raids lasted until March 1945, just before

4095-572: The St. Stephen's Cathedral ( Stephansdom ), Karlskirche , Peterskirche and the Votivkirche . On the banks of the Danube is a Buddhist Peace Pagoda , built in 1983 by the monks and nuns of Nipponzan Myohoji . Vienna is located in northeastern Austria, at the easternmost extension of the Alps in the Vienna Basin . The earliest settlement, at the location of today's inner city , was south of

4212-522: The Western and Eastern blocs , which deeply distrusted each other. The city experienced an economic upturn due to the Marshall Plan . The atmosphere of four-power Vienna is the background for Graham Greene 's screenplay for the film The Third Man (1949). The film's theme music was composed and performed by Viennese musician Anton Karas using a zither . Later he adapted the screenplay as

4329-494: The World War I , only three European countries declared ethnic minority rights, and enacted minority-protecting laws: the first was Hungary (1849 and 1868), the second was Austria (1867), and the third was Belgium (1898). In contrast, the legal systems of other pre-WW1 era European countries did not allow the use of European minority languages in primary schools, in cultural institutions , in offices of public administration and at

4446-541: The 16th century of the Habsburg emperors of the Holy Roman Empire with an interruption between at the turn to the 17th century until 1806, becoming an important center in the empire. In the 16th and 17th centuries, Christian forces twice stopped Ottoman armies outside Vienna, in the 1529 siege of Vienna and the 1683 Battle of Vienna . The Great Plague of Vienna ravaged the city in 1679, killing nearly

4563-650: The 1848 Revolutions and the Russian intervention had a very high price. In 1858 already 40 percent of the Austrian Imperial government's expenditures went to service the state debt. An expensive mobilization during the Crimean War (1853–1856) and a disastrous campaign against Piedmont-Sardinia in 1859 brought the state to the verge of bankruptcy. The threat of fiscal insolvency and the demands of his creditors for an open and credible budgetary process forced

4680-515: The 1st century, the Romans set up the military camp of Vindobona in Pannonia on the site of today's Vienna city center near the Danube with an adjoining civilian town to secure the borders of the Roman Empire . Construction of the legionary camp began around 97 AD. At its peak, Vindobona had a population of around 15,000 people. It was a part of a trade and communications network across

4797-590: The 2021 census, 49.0% of Viennese were Christian. Among them, 31.8% were Catholic , 11.2% were Eastern Orthodox , and 3.7% were Protestant , mostly Lutheran , 34.1% had no religious affiliation, 14.8% were Muslim , and 2% were of other religions, including Jewish. One sources estimates that Vienna's Jewish community is of 8,000 members meanwhile another suggest 15,000. Based on information provided to city officials by various religious organizations about their membership, Vienna's Statistical Yearbook 2019 reports in 2018 an estimated 610,269 Roman Catholics, or 32.3% of

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4914-825: The Austrian administration and Austrian government until the 1848 revolution. Hungary was governed to a greater degree by the Council of Lieutenancy of Hungary (the Gubernium) in Pressburg (Pozsony) and, to a lesser extent, by the Hungarian Royal Court Chancellery in Vienna, independent of the Imperial Chancellery of Austria. From 1526 to 1851, the Kingdom of Hungary maintained its own customs borders, which separated Hungary from

5031-411: The Austrian financial boom-and-bust episode of 1873. By 1875, it had 24 branches outside of Vienna. The adaptation of the bank's to the Monarchy's new political structure was only finalized in 1878, when its name was changed to Austro-Hungarian Bank. The bank was given a unitary governance with a general meeting ( German : Generalversammlung ) and governing council ( German : Generalrat ) chaired by

5148-405: The Austro-Hungarian Compromise of 1867. As the Hungarian statesman Ferenc Deák argued, according to the Pragmatic Sanction of 1723, constitutional governing of Hungary was a fundamental prerequisite of the Habsburg rule over Hungary . The foreign policy and defense, as well as financing them, were the most important joint affairs of Austria-Hungary , the resulting dual monarchy , to be based on

5265-531: The Austro-Hungarian one. This dual monarchy model was advocated by Griffith's Sinn Féin party in its early years of existence and had a considerable influence on the development of Irish Nationalism  – though after the Easter Rising and subsequent October 1917 Ardfheis , it was dropped in favour of Irish Republicanism . Vienna Vienna ( / v i ˈ ɛ n ə / vee- EN -ə ; German: Wien [viːn] ; Austro-Bavarian : Wean [veɐ̯n] )

5382-489: The Bank's issuance monopoly, and on that occasion altered its governance to increase government control. The Bank opened its first branch in Prague in 1847, and its second in Pest in 1851. The Bank's notes suffered depreciation during the successive episodes of financial stress associated with the revolutions of 1848–1849 , the Autumn Crisis of 1850 with Prussia , and the Crimean War mobilization from 1853 to 1856. On 27 December 1862, Emperor Franz Joseph I again renewed

5499-423: The Bank's issuance privilege, granted it greater independence, and emulated the UK Bank Charter Act 1844 by limiting the volume of banknotes in circulation to 200 million gulden backed with precious metal. In 1866, however, the Austrian government breached these arrangements to finance the Austro-Prussian War , and had to subsequently pay compensation to the Bank. The matter of the central bank and its governance

5616-449: The Bank's liquidation and the allocation of its assets and liabilities to successor states, namely Austria and Hungary but also Czechoslovakia , Italy , Poland , Romania , and Yugoslavia . In Vienna, the Bank increasingly had recourse to monetary financing, and covered about 75 percent of the budget deficit of the new Republican Austrian state between 1918 and 1922. The Austrian currency depreciated sharply, from 16 to 30 kronen against

5733-454: The Compromise: The power of the monarch significantly increased in a comparison with the pre-1848 status of Hungary. This meant a great reduction in Hungarian sovereignty and autonomy, even in comparison with the pre-1848 status quo. The Austro-Hungarian compromise and its supporting liberal parliamentary parties remained bitterly unpopular among the ethnic Hungarian voters, and the continuous successes of these pro-compromise Liberal Party in

5850-405: The Empire. Roman emperor Marcus Aurelius may have died here in 180 AD during a campaign against the Marcomanni . After a Germanic invasion in the second century the city was rebuilt. It served as a seat of the Roman government until the fifth century, when the population fled due to the Huns invasion of Pannonia. The city was abandoned for several centuries. Evidence of the Romans in the city

5967-462: The Hungarian coronation oath they had to agree to uphold the old constitutional arrangements of the country and preserve the territorial integrity of the Hungarian realm. This coronation oath was obligatory for the Hungarian monarchs during the coronation process since the Golden Bull of 1222 . The Hungarians, who were regarded as equal after the Compromise, only partially acquiesced to granting "their" minorities recognition and local autonomy. In

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6084-410: The Hungarian Parliament: for the Diet always had the lawful right of [declaring] War and Peace." The other serious problem for the Habsburgs was the traditionally highly autonomous counties of Hungary , which proved to be a solid and major obstacle in the construction of absolutism in Hungary. The counties were the centers of local public administration and local politics in Hungary, and they possessed

6201-427: The Hungarian parliamentary elections caused long lasting frustration for Hungarians. The ethnic minorities had the key role in the political maintenance of the compromise in Hungary, because they were able to vote the pro-compromise liberal parties into the position of the majority/ruling parties of the Hungarian parliament. The pro-compromise liberal parties were the most popular among ethnic minority voters, however i.e.

6318-482: The Hungarian political elite arranged the Austro-Hungarian Compromise of 1867. The Compromise was arranged and legitimated by a very small part of the Hungarian society (suffrage was very limited: less than 8% of the population had voting rights), and was seen by a very large part of the population as betrayal of the Hungarian cause and the heritage of the 1848–49 War of Independence. This caused deep and lasting cracks in Hungarian society. Hungarian statesman Ferenc Deák

6435-412: The Hungarian revolutionary parliament (with the exception of the laws based on the 9th and 10th points) were restored by Franz Joseph. Under the Compromise, the lands of the House of Habsburg were reorganized as a real union between the Austrian Empire and the Kingdom of Hungary, headed by a single monarch who reigned as Emperor of Austria in the Austrian half of the empire, and as King of Hungary in

6552-430: The Hungarians). As early as the mid-1880s, Lord Salisbury, leader of the British Conservative Party , had contemplated using the 1867 Austro-Hungarian example as a model for a reformed relationship between Britain and Ireland. In 1904, Arthur Griffith published the highly influential book The Resurrection of Hungary: A Parallel for Ireland , setting out a detailed proposal for an Anglo-Irish dual monarchy similar to

6669-413: The Kingdom stayed " orphaned ". Even during the long personal union between the Kingdom of Hungary and other Habsburg-ruled areas, no Habsburg monarch could promulgate laws or exercise his royal prerogatives in the territory of Hungary until he had been crowned as King of Hungary . Since the Golden Bull of 1222 , all Hungarian monarchs had to take a coronation oath during the coronation procedure, where

6786-435: The Middle Ages, the Duchy of Austria was an autonomous state within the Holy Roman Empire , ruled by the House of Habsburg , and the Kingdom of Hungary was a sovereign state outside the empire. In 1526, Hungary was defeated and partially conquered by the Ottoman Empire. King Louis II of Hungary and Bohemia had no legitimate heir and died young in the Battle of Mohács . Louis II's brother-in-law, Ferdinand I of Habsburg ,

6903-463: The Monarchy. Austro-Hungarian Compromise of 1867 Timeline The Austro-Hungarian Compromise of 1867 ( German : Ausgleich , Hungarian : Kiegyezés ) established the dual monarchy of Austria-Hungary , which was a military and diplomatic alliance of two sovereign states. The Compromise only partially re-established the former pre-1848 sovereignty and status of the Kingdom of Hungary , being separate from, and no longer subject to,

7020-486: The Nazi regime, 65,000 Jews were deported and murdered in concentration camps by Nazi forces; approximately 130,000 fled. By 2001, 16% of people living in Austria had nationalities other than Austrian, nearly half of whom were from former Yugoslavia ; the next most numerous nationalities in Vienna were Turks (39,000; 2.5%), Poles (13,600; 0.9%) and Germans (12,700; 0.8%). As of 2012 , an official report from Statistics Austria showed that more than 660,000 (38.8%) of

7137-413: The Parliament, the French in Hotel Kummer on Mariahilferstraße, the Americans in the National Bank , and the British in Schönnbrunn Palace . The division of the city was not comparable to that of Berlin . Although the borders between the sectors were marked, travel between them was freely possible. During the ten years of the four-power occupation, Vienna was a hotbed for international espionage between

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7254-403: The Pragmatic Sanction of 1723. He also felt that Hungary benefited from continued union with wealthier, more industrialized Austria and that the Compromise would end the continual pressures on Austria to choose between the Magyars and the Slavs of the Kingdom of Hungary. Imperial Chancellor Beust quickly negotiated the Compromise with the Hungarian leaders. Beust was particularly eager to renew

7371-405: The Slovak, Serb and Romanian minority parties remained unpopular among their own ethnic minority voters. The coalitions of Hungarian nationalist parties – which were supported by the overwhelming majority of ethnic Hungarian voters – always remained in the opposition, with the exception of the 1906–1910 period, where the Hungarian-supported nationalist parties were able to form a government. Before

7488-399: The Soviet troops started the Vienna offensive . The Red Army , who had previously marched through Hungary , first entered Vienna on 6 April. They first attacked the eastern and southern suburbs, before moving on to the western suburbs. By the 8th they had the center of the city surrounded. The following day the Soviets started with the infiltration of the city center. Fighting continued for

7605-417: The U.S. dollar during the first half of 1919 - and 5,275 kronen to the dollar by the end of 1921. The hyperinflation was only stopped by the protocol for the reconstruction of Austria , signed in Geneva on 4 October 1922 and entailing a harsh fiscal and economic adjustment program supported by a loan guaranteed by the League of Nations . The Bank's last ordinary general meeting was held on 14 July 1921, and

7722-422: The Viennese population have full or partial migrant background, mostly from Ex-Yugoslavia, Turkey, Germany, Poland, Romania and Hungary. From 2005 to 2015 the city's population grew by 10.1%. According to UN-Habitat , Vienna could be the fastest growing city out of 17 European metropolitan areas until 2025 with an increase of 4.65% of its population, compared to 2010. Religion in Vienna (2021) According to

7839-402: The capital of Austria-Hungary (1867–1918). In 1910, Vienna had more than two million inhabitants and was the third largest city in Europe after London and Paris. Around the start of the 20th century, Vienna was the city with the second-largest Czech population in the world (after Prague ). After World War I, many Czechs and Hungarians returned to their ancestral countries, resulting in

7956-404: The capital of what became the Austro-Hungarian Empire . The city functioned as a center of classical music, for which the title of the First Viennese School (Haydn/Mozart/Beethoven) is sometimes applied. During the latter half of the 19th century, Vienna developed what had previously been the bastions and glacis into the Ringstraße , a new boulevard surrounding the historical town and

8073-408: The central area of the city, known as the first district, constituted an international zone in which the four powers alternated control on a monthly basis. The city was policed by the four powers on a day-to-day basis using the "four soldiers in a jeep" method, which had one soldier from each nation sitting together. The four powers all had separate headquarters, the Soviets in Palais Epstein next to

8190-410: The city were arrested. Adolf Eichmann held office in the expropriated Palais Rothschild and organized the expropriation and persecution of the Jews. Of the almost 200,000 Jews in Vienna, around 120,000 were driven to emigrate and around 65,000 were killed. After the end of the war, the Jewish population of Vienna was only about 5,000. In 1942 the city suffered its first air raid , carried out by

8307-525: The conflict with Prussia and thought a quick settlement with Hungary would make that possible. Franz Joseph and Deák signed the Compromise, and it was ratified by the restored Diet of Hungary on 29 May 1867. Beust's revenge against Prussia did not materialize. When, in 1870, Beust wanted Austria–Hungary to support France against Prussia, Hungarian Prime Minister Gyula Andrássy was "vigorously opposed" and effectively vetoed Austrian intervention. The settlement with Hungary consisted then of three parts:

8424-455: The cost of war was covered by the central bank's monetary financing, and about sixty percent by war loans. On 18 October 1918, the Diet of Hungary voted to terminate the kingdom's union with Austria, and on 31 October 1918, newly appointed Prime Minister of Hungary Mihály Károlyi repudiated the Compromise of 1867. The Treaty of Saint-Germain-en-Laye , signed on 10 September 1919, provided for

8541-444: The dual monarchy stabilized the country in the face of national awakenings and to what extent it alleviated or aggravated the situation is still debated today. In a letter on 1 February 1913, to Foreign Minister Berchtold , Archduke Franz Ferdinand said that " irredentism in our country ... will cease immediately if our Slavs are given a comfortable, fair and good life" instead of being trampled on (as they were being trampled on by

8658-536: The early part of the 20th century. Vienna was home to the world's first psychoanalyst, Sigmund Freud . The historic center of Vienna is rich in architectural ensembles, including Baroque palaces and gardens, and the late-19th-century Ringstraße , which is lined with grand buildings, monuments, and parks. In 2024, Vienna retained its position as most livable city per the Economist Intelligence Unit , and has spent every year since 2015 in

8775-653: The famed Café Central . In 1897, the Bank expanded into the adjacent Palais Hardegg  [ de ] on Freyung 1, where the Bank relocated its Austrian general management and the Governor's office. In 1924, in advance of its planned relocation, the Bank sold the entire complex to the Anglo-Austrian Bank , which redeveloped it for commercial use. The complex was comprehensively renovated in 1975–1982 and has been known since then as Palais Ferstel , including

8892-613: The first half of the 20th century included, among many, the Vienna Secession movement in art, the Second Viennese School , the architecture of Adolf Loos , the philosophy of Ludwig Wittgenstein , and the Vienna Circle . The city of Vienna became the center of socialist politics from 1919 to 1934, a period referred to as Red Vienna ( Das rote Wien ). After a new breed of socialist politicians won

9009-470: The form of Vienna's great Schottenstift monastery (Scots Abbey), once home to many Irish monks. In 976, Leopold I of Babenberg became count of the Eastern March , a district centered on the Danube on the eastern frontier of Bavaria . This initial district grew into the duchy of Austria . Each succeeding Babenberg ruler expanded the march east along the Danube, eventually encompassing Vienna and

9126-770: The historical constitution of Hungary and tried to nullify it. In the failed Hungarian Revolution of 1848 , the Magyars came close to ending ties with the Habsburg Dynasty , but were defeated by the Austrian Empire only by the military intervention of the Russian Empire . After the restoration of Habsburg power, Hungary was placed under martial law . A military dictatorship was created in Hungary. Every aspect of Hungarian life would be put under close scrutiny and governmental control. German became

9243-607: The influence of the Social Democratic Party . This led to a civil war between the right-wing government and socialist forces the following year, which started in Linz and quickly spread to Vienna. Socialist members of the Republikanischer Schutzbund barricaded themselves inside the housing estates and exchanged fire with the police and paramilitary groups. The fighting in Vienna ended after

9360-536: The institution was practically defunct until the end of 1858. Hungarians responded with passive resistance. Anti-Habsburg and anti-German sentiments were strong. In the following years, the empire instituted several reforms but failed to resolve problems. After the Hungarian Revolution of 1848–49, the independent customs system of Hungary was abolished. Hungary became part of the unified imperial customs system on 1 October 1851. The suppression of

9477-664: The lands immediately east. In 1155, Henry II, Duke of Austria moved the Babenberg family residence with the founding of the Schottenstift from Klosterneuburg in Lower Austria to Vienna. From that time, Vienna remained the center of the Babenberg dynasty. Hungary occupied the city between 1485 and 1490. Vienna became at the turn to the 16th century the seat of the Aulic Council and subsequently later in

9594-472: The lands of the Austrian Empire. The lavish interior decoration included works by painters Franz Josef Dobiaschofsky  [ de ] and Carl Joseph Geiger  [ de ] , and sculpture by Joseph Gasser von Valhorn and Franz Melnitzky . The complex also hosted the Wiener Börse (which only stayed there until 1869), a commercial mall ( German : Basarhof ), and from its opening in 1876,

9711-524: The largest German-speaking cities in the world, being the largest in the 18th and 19th century, peaking at two million inhabitants before it was overtaken by Berlin at the beginning of the 20th century. Vienna is host to many major international organizations , including the United Nations, OPEC and the OSCE . In 2001, the city center was designated a UNESCO World Heritage Site . In July 2017, it

9828-456: The last meeting of its governing council on 15 December 1922. At its creation, the Bank was temporarily settled at Singerstrasse 1 next to St. Stephen's Cathedral . In 1819–1821, it purchased houses on Vienna's prestigious Herrengasse , and replaced them after demolition with a building designed by Rafael von Riegel after designs by Charles de Moreau  [ de ] and Paul Wilhelm Eduard Sprenger  [ de ] . The new building

9945-516: The legal courts. The resulting system was maintained until the dissolution of the dual monarchy after World War I . The favoritism shown to the Magyars, the second largest ethnic group in the dual monarchy after the Germans, caused discontent on the part of other ethnic groups like the Slovaks and Romanians . Although a "Nationalities Law" was enacted to preserve the rights of ethnic minorities,

10062-422: The local elections they engaged in a brief but ambitious municipal experiment. Social democrats had won an absolute majority in the May 1919 municipal election and commanded the city council with 100 of the 165 seats. Jakob Reumann was appointed by the city council as city mayor. The theoretical foundations of so-called Austromarxism were established by Otto Bauer , Karl Renner , and Max Adler . Red Vienna

10179-464: The local governments of its counties) as they had been previously. Thus, under the new arrangements, no Austrian imperial institutions were involved in its internal government. The Hungarian legal system and judicial system remained separated and independent from the unified legal and judicial systems of the other Habsburg ruled areas. Accordingly, the administration and the structures of central government of Kingdom of Hungary also remained separate from

10296-530: The location of the old Vienna General Hospital (later Campus Hof 1 of the University of Vienna ). The construction of a first building intended for money printing facilities started in 1913 after demolition of the Alser Kaserne  [ de ] barracks, but was disrupted by World War I and stopped in 1917; the rest of Bauer's grandiose development plan was never implemented. After the war's end,

10413-412: The meandering Danube while the city now spans both sides of the river. Elevation ranges from 151 to 542 m (495 to 1,778 ft). The city has a total area of 414.65 square kilometers (160.1 sq mi), making it the largest city in Austria by area. Vienna has a borderline oceanic ( Köppen : Cfb ) and humid continental climate ( Köppen : Dfb ), with some parts of the urban core being warm enough for

10530-462: The monarch. The Austrian constitution was accepted by the Imperial Diet of Austria , in which Hungary had no representation and traditionally had no legislative power in the territory of Kingdom of Hungary; still, it also tried to abolish the Diet of Hungary , which existed as the supreme legislative power in Hungary since the late 12th century. The new Austrian constitution also went against

10647-432: The municipality-owned Wiener Stadtbank. Its first task was the redemption of the depreciated wartime paper money to re-establish trust in the currency. On 15 July 1817, it was granted another imperial patent to issue money by printing banknotes, and had its first permanent staff by January 1818. It soon started developing its network of branches throughout the Austrian Empire. On 2 October 1841, Emperor Ferdinand I renewed

10764-501: The negotiations. One was to regain the traditional status (both legal and political) of the Hungarian state, which had been lost after the Hungarian Revolution of 1848 . The other was to restore the series of reform laws (the so-called April Laws ) of the revolutionary parliament of 1848, which were based on the 12 points that established modern civil and political rights and economic and societal reforms in Hungary. The April Laws of

10881-529: The new monarchs had to agree to uphold the constitutional arrangement of the country, to preserve the liberties of his subjects and the territorial integrity of the realm. On 7 March 1849 an imperial proclamation was issued in the name of the emperor Franz Joseph establishing a united constitution for the whole empire. According to the new proclamation, the traditional territorial integrity of Kingdom of Hungary would be terminated and carved up, and it would be administered by five separated military districts, while

10998-421: The official language of public administration. An edict issued on 9 October 1849 placed education under state control, the curriculum was prescribed and controlled by the state, the teaching of national history was restricted and history was taught from a Habsburg viewpoint. Even the bastion of Hungarian culture, The academy , was kept under control: the institution was staffed with foreigners, mostly Germans, and

11115-452: The other lands of the Habsburg monarchy . Unlike other Habsburg-ruled areas, the Kingdom of Hungary had an old historic constitution , which limited the power of the Crown and had greatly increased the authority of the parliament since the 13th century. The Golden Bull of 1222 was one of the earliest examples of constitutional limits being placed on the powers of a European monarch, which

11232-456: The perspective of the ország (the country), Hungary was regnum independens , a separate Land as the above mentioned Article X of 1790 stipulated. The Court reassured the diet, however, that the assumption of the monarch's newly adopted title (Emperor of Austria) did not in any sense affect the laws and the constitution on the territory of Kingdom of Hungary. Hungary's affairs continued to be administered by its own institutions (King and Diet and

11349-552: The political settlement, which was to be permanent and would remain part of the fundamental constitution of the monarchy; the periodical financial settlement, determining the partition of the common expenses as arranged by the Quota-Deputations and ratified by the parliaments; and the Customs Union and the agreement on currency, a voluntary, reversible arrangement between the two governments and parliaments. Under

11466-507: The population, and 200,000 (10.4%) Muslims, 70,298 (3.7%) Orthodox, 57,502 (3.0%) other Christians, and 9,504 (0.5%) other religions. A study conducted by the Vienna Institute of Demography estimated the 2018 proportions to be 34% Catholic, 30% unaffiliated, 15% Muslim, 10% Orthodox, 4% Protestant, and 6% other religions. As of the spring of 2014, Muslims made up 30% of the total proportion of schoolchildren in Vienna. Vienna

11583-473: The recreation of the Café Central within the complex, albeit on a different location from the original. In 1910, the Bank held a design competition for the design of a new head office in Vienna's Alsergrund district, which was won by Leopold Bauer , a disciple of celebrated Austrian architect Otto Wagner . Bauer's concept entailed a gigantic complex dominated by a massive 88-meter-high tower, partly on

11700-526: The ruling Liberal party in Hungarian parliamentary elections. Therefore, the political maintenance of the Austro-Hungarian Compromise, and thus Austria-Hungary itself, was mostly a result of the popularity of the pro-compromise ruling Liberal Party among ethnic minority voters in the Kingdom of Hungary. According to Emperor Franz Joseph I of Austria , "There were three of us who made the agreement: Deák , Andrássy and myself." In

11817-573: The same decade, Austrian Chancellor Bruno Kreisky inaugurated the Vienna International Centre , a new area of the city created to host international institutions. Vienna has regained much of its former international stature by hosting international organisations, such as the United Nations. Because of the industrialization and migration from other parts of the Empire, the population of Vienna increased sharply during its time as

11934-805: The streets. This culminated in the Kristallnacht , a nationwide pogrom against the Jews carried out by the Schutzstaffel and the Sturmabteilung , with support of the Hitler Youth and German civilians. All synagogues and prayer houses in the city were destroyed, bar the Stadttempel , due to its proximity to residential buildings. Vienna lost its status as a capital to Berlin , as Austria had ceased to exist. The few resistors in

12051-554: The top 2 places, bar 2021 due to the COVID-19 lockdowns . The place is mentioned as Οϋι[νδ]όβονα (Oui[nd]obona) in the 2nd century AD (Ptolemy, Geography , II, 14, 3); Vindobona in the 3rd century ( Itinerarium Antonini Augusti 233, 8); Vindobona in the 4th century ( Tabula Peutingeriana , V, 1); Vindomana ab. 400 ( Notitia Dignitatum , 145, 16); Vindomina, Vendomina in the 6th century ( Jordanes , De origine actibusque Getarum , 50, 264). The English name Vienna

12168-485: The two "common" portfolios. The relationship of Hungary to Austria before the 1848 revolution had been personal union , whereas after the compromise of 1867 its status was reduced to partnership in a real union . Thus Hungarian society widely considered the compromise as a betrayal of the vital Hungarian interests and the achievements of the reforms of 1848. The compromise remained bitterly unpopular among ethnic Hungarian voters: ethnic Hungarians did not generally support

12285-509: The two parliaments took very different approaches to this issue. The basic problem in the later years was that the Compromise with Hungary only encouraged the appetites of non-Hungarian minorities in Hungary that were historically within the boundaries of the Hungarian Kingdom. The majority of Hungarians felt they had accepted the Compromise only under coercion. The Hungarian monarchs were always crowned as King of Hungary , due to

12402-488: The unfinished printing building was repurposed on a design by the Bank's architects Ferdinand Glaser  [ de ] and Rudolf Eisler  [ de ] . It was completed in 1925 to host the Oesterreichische Nationalbank , just weeks ahead of the introduction of the new currency, the Austrian schilling . The new Budapest head office building of the Austro-Hungarian Bank was inaugurated in 1905, and later hosted

12519-410: The united customs system of other Habsburg-ruled territories. The involvement and integration of Kingdom of Hungary into a different state was legally impossible, due to the provisions of the old Hungarian constitution and Hungarian public law. "At any time in the past, Hungary might have made peace with a power with which Austria was at war, if the kings had not falsified their oath by not assembling

12636-547: The unwilling Franz Joseph to authorize political reform. In 1866, Austria was completely defeated in the Austro-Prussian War . Its position as the leading state of Germany ended, and the remaining German minor states were soon absorbed into the German Empire , created by Prussia 's Bismarck . Austria also lost much of its remaining claims and influence in Italy , which had been its chief foreign policy interest. After

12753-487: Was abolished in 1806. The Kingdom of Hungary had always been considered a separate realm, the country's status was affirmed by Article X, which was added to Hungary's constitution in 1790 during the phase of the composite monarchy; it described the state as a Regnum Independens . From the perspective of the Court since 1723, regnum Hungariae had been a hereditary province of the dynasty's three main branches on both lines. From

12870-512: Was elected King of Hungary by a rump Parliament in Pozsony (now Bratislava) in December 1526. The Ottomans were subsequently driven out of Hungary by the cooperation of international Western Christian forces led by Prince Eugene of Savoy between 1686 and 1699. From 1526 to 1804, Hungary was ruled by the Habsburg dynasty as kings of Hungary , but remained nominally and legally separate from

12987-635: Was elevated to a municipium with Roman city rights in 212. This was followed by a time in the sphere of influence of the Lombards and later the Pannonian Avars , when Slavs formed the majority of the region's population. From the 8th century on, the region was settled by the Baiuvarii . In 1155, Vienna became the seat of the Babenbergs , who ruled Austria from 976 to 1246. In 1221, Vienna

13104-428: Was forced on the Hungarian king in much the same way King John of England was made to sign Magna Carta . The Hungarian parliament was the most important political assembly since the 12th century, which emerged to the position of the supreme legislative institution in the Kingdom of Hungary from the 1290s. In 1804, Francis II, Holy Roman Emperor , who was also ruler of the lands of the Habsburg monarchy , founded

13221-550: Was granted city rights. During the 16th century, the Habsburgs , who had succeeded the Babenbergs, established Vienna as the seat of the emperors of the Holy Roman Empire , a position it held until the empire's dissolution in 1806, with only a brief interruption. With the formation of the Austrian Empire in 1804, Vienna became the capital of it and all its successor states. Throughout the modern era Vienna has been among

13338-440: Was inaugurated by Francis I on 1 July 1821 and completed in 1823. Its pediment was adorned with sculptures by Josef Klieber , which were however removed when the building was repurposed in 1874. In 1860, the Bank moved across the street to a new building complex designed in 1855 by architect Heinrich Ferstel , himself the son of a Nationalbank official, with ornate decoration including twelve statues by Hans Gasser representing

13455-487: Was moved to the list of World Heritage in Danger . Vienna has been called the "City of Music" due to its musical legacy, as many famous classical musicians such as Beethoven , Brahms , Bruckner , Haydn , Mahler , Mozart , Schoenberg , Schubert , Johann Strauss I and Johann Strauss II lived and worked there. It played a pivotal role as a leading European music center, from the age of Viennese Classicism through

13572-427: Was set aside during the negotiations that led to the Austro-Hungarian Compromise of 1867 , with the understanding that it would be reformed in the future. Meanwhile, the law of 18 March 1872, based on the experience of 1866, stipulated that any money issues in excess of the 200 million-gulden limit must be backed by precious metal reserves. Backed by these provisions, the Bank managed to preserve monetary stability during

13689-430: Was successfully maintained until 1914. During World War I , however, the Bank was unable to preserve monetary stability against the pressures of military expenses and economic shortages. The money supply increased thirteenfold, and prices rose sixteenfold compared to their prewar level. By late 1918, the real income of workers had been reduced to one fifth of what it had been in the last year of peace. About forty percent of

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