AP Euro Chapter 15 - Maritime Powers
Terms
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- The Netherlands (things in general)
- Republic (rather than monarchy/parliament); provinces had considerable authority; religious toleration
- States General
- Central government of the Netherlands (dominated by Holland)
- The Netherlands (economy)
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Instead of fighting over religion, the Dutch achieved economic prosperity, urbanization, transformed agriculture, trade and an overseas empire, an advanced financial system, and developed industries (fishing, textiles, shipbuilding, &c.)
BUT
When William III died, no one replaced him: the Dutch suddenly lacked unified political leadership and everything went downhill - Dutch East Indied Company
- Netherlands trading presence in East Asia
- Louis XV
- Grandson of Louis XIV; takes the throne at five years old
- Duke of Orleans
- Louis XV's regent; put John Law in charge of finances and restored the authority of parlements
- John Law
- Louis XV's financial manager; had a gambing problme; fled the country when his plan for economic recovery became a disaster
- Mississippi Company
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1. Issued paper money
2. Organized a monopoly on trading privileges w/ Louisiana
3. Managed the national debt by issuing its own stock - Mississippi Bubble
- John Law's scandal: Law thought that an increase in the amount of paper money would help France's economy recover from war. Investors bought stock in the Mississippi Company; prices rose and investors sold their stock in exchange for government bonds, and then sought to redeem the bonds for paper money and then the money for gold. The Company ran out of gold - scandalous.
- Parlements
- Governing bodies not allowed to legislate, but given the authority to approve or disapprove of royal law; duke of Orleans gave the parlements full authority, and so they became a center for resistance to the king's laws
- Cardinal Fleury
- Chief minister of the French court; tried to solve France's financial problems, but with little success; he also failed to train Louis XV to be an effective king
- James Edward
- "Stuart pretender" who challenged King George I for the throne of England; shortly defeated, but gained the support of some Tories, who were anti-George
- Tories
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Initially: supported a strong monarchy, low taxes, and Anglicanism
But then: favored peace in the war with France and, finding themselves at odds with the Whigs, rally behind James Edward
And so: when George became king, Tories were denied public office and patronage - Whigs
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Initially: favored Parliamentary sovreignty, commercial interests, and religious toleration
But then: sought the favor of future King George I, so they support German interests in the war with France; the plan works
And so: When George becomes king, Whigs are allowed public office and patronage - Robert Walpole
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Saved the financial integrity of England from another bubble-scandal, in which South Sea Company stock crashed; adopted measures to honor the national debt
Credited with being England's first prime minister and the originator of the cabinet system of government - Parliament (structure)
- House of Lords (hereditary positions); House of Commons (two representatives from each county); dominated by large landowners
- Political life in England
- Characterized by freedom - newspapers and debate, freedom of speech, no large standing army, Tories openly opposed the king; limits were imposed on Walpole's power; Parliament was responsive to popular pressure
- South Sea Company
- England's trade company; almost had a Mississippi Bubble scandal, but Walpole came to the rescue
- "quieta non movere"
- The book says this means "Let sleeping dogs lie," but I disagree - it means something more along the lines of "Do not disturb that which is still." I think it's important that you know this.
- Hanoverian dynasty
- German line of inheritance to the English throne; began with King George I after the Act of Settlement