Hungarian Conservative

16 November marks the day when Rear Admiral, and later Regent, Miklós Horthy marched into Budapest in 1919, symbolically ending the Hungarian Soviet Republic. This remains a controversial event to this very day: while on the one hand, it ended a period of chaos and dictatorship, on the other hand, it bolstered the so-called White Terror.

In 1860, Emperor Franz Joseph I of Austria and King of Hungary issued a decree mandating the establishment of commodity exchanges in the major cities of the Habsburg Empire. As a result, the Pest Lloyd Association was commissioned to create a stock exchange plan, which not only included a commodity exchange but also envisioned the establishment of a stock exchange.

The book’s greatest value can undoubtedly be found in its historiographical sections, which present the historical assessment of the Soviet Republic and the Horthy system. It is in these that the author utilises the largest literary material and provides the widest overview.