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History of Urcea (1902-1955): Difference between revisions
History of Urcea (1902-1955) (view source)
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In 1905, the [[National Democratic Party (Urcea)|National Democratic Party]] won a landslide victory over the [[National Pact (Urcea)|National Pact]], creating the first non-Pact government in decades and ending the temporary unity government established by [[King Patrick III]]. While his various infrastructure and military reform efforts would continue unabated, the King handed over primary governing responsibility to the elected government, earning him the admiration of leaders on both sides of the political aisle for his commitment to the [[Constitution of Urcea]]. Although the second half of the King's reign would not see as much vigorous activity in reshaping the nation, it nonetheless saw the continuation of development and advancement in most fields, including the economy, political stability, military technology, and social cohesion. In most ways, [[Urcea]] emerged from the crucible of the [[Red Interregnum]] stronger than it had been than any time since the 18th century. King Patrick III decided to use this strength in 1908, when he deployed parts of the rebuilt [[Royal Navy (Urcea)|Royal Navy]] to [[New Harren]] in an effort to expand the colony there. His father's effort to do so in 1881 had lead to the colony being considered a discredited vanity project. The technological advances of the Army combined with the Navy's strength were no match for the overwhelmed Confederates, who believed Urcea a paper tiger; Urcea successfully annexed Schoharie, a tribe of the Northern Confederation, and secured an equal trading rights agreement with the Confederation. The demonstration lead to many in the Occident taking notice; the [[Armed Forces of the Apostolic Kingdom of Urcea]] were equally as up to the task of displaying Urcean might as its political, social, and economic sectors were. | In 1905, the [[National Democratic Party (Urcea)|National Democratic Party]] won a landslide victory over the [[National Pact (Urcea)|National Pact]], creating the first non-Pact government in decades and ending the temporary unity government established by [[King Patrick III]]. While his various infrastructure and military reform efforts would continue unabated, the King handed over primary governing responsibility to the elected government, earning him the admiration of leaders on both sides of the political aisle for his commitment to the [[Constitution of Urcea]]. Although the second half of the King's reign would not see as much vigorous activity in reshaping the nation, it nonetheless saw the continuation of development and advancement in most fields, including the economy, political stability, military technology, and social cohesion. In most ways, [[Urcea]] emerged from the crucible of the [[Red Interregnum]] stronger than it had been than any time since the 18th century. King Patrick III decided to use this strength in 1908, when he deployed parts of the rebuilt [[Royal Navy (Urcea)|Royal Navy]] to [[New Harren]] in an effort to expand the colony there. His father's effort to do so in 1881 had lead to the colony being considered a discredited vanity project. The technological advances of the Army combined with the Navy's strength were no match for the overwhelmed Confederates, who believed Urcea a paper tiger; Urcea successfully annexed Schoharie, a tribe of the Northern Confederation, and secured an equal trading rights agreement with the Confederation. The demonstration lead to many in the Occident taking notice; the [[Armed Forces of the Apostolic Kingdom of Urcea]] were equally as up to the task of displaying Urcean might as its political, social, and economic sectors were. | ||
The Urcean economy became increasingly unstable due to the loosened restrictions on usury proclaimed by the King several years earlier. In [[1908]], the Royal Bank of Urcea informed the [[Concilium Purpaidá]] that received interest on its excessive lending was insufficient and that the Bank may face an insolvency issue by the late 1910s. This fact became public in February 1909, leading to major concerns of debts being called in. On 12 February 1909, a massive market sell off began as speculators sought to have enough liquid capital to cover a debt recall. This sell-off lead to a chain reaction beginning the [[Great Depression]] in [[Urcea]] and [[Levantia]] as a whole. The National Democratic Party-lead [[Concilium Daoni]] passed the "National Banking Act" on 12 March 1909, which reinforced pre-Interregnum anti-usury laws and ordered the Royal Bank to restructure by changing from an interest-based to a non-interest based system. These moves stabilized the economy for the time being, but the country was plagued with some political turmoil for a decade to come. While the country remained more stable than it had been in the period of the Regency, a low-level war began between the [[Agency for the Preservation of the Restoration]] and the insurgent [[Republican Party (Urcea)|National Republican Army]], whose ranks swelled with unemployed, especially unemployed veterans. | The Urcean economy became increasingly unstable due to the loosened restrictions on usury proclaimed by the King several years earlier. In [[1908]], the Royal Bank of Urcea informed the [[Concilium Purpaidá]] that received interest on its excessive lending was insufficient and that the Bank may face an insolvency issue by the late 1910s. This fact became public in February 1909, leading to major concerns of debts being called in. On 12 February 1909, a massive market sell off began as speculators sought to have enough liquid capital to cover a debt recall. This sell-off lead to a chain reaction beginning the [[Great Depression]] in [[Urcea]] and [[Levantia]] as a whole. The National Democratic Party-lead [[Concilium Daoni]] passed the "National Banking Act" on 12 March 1909, which reinforced pre-Interregnum anti-usury laws and ordered the Royal Bank to restructure by changing from an interest-based to a [[Levantine banking and finance|non-interest based system]]. These moves stabilized the economy for the time being, but the country was plagued with some political turmoil for a decade to come. While the country remained more stable than it had been in the period of the Regency, a low-level war began between the [[Agency for the Preservation of the Restoration]] and the insurgent [[Republican Party (Urcea)|National Republican Army]], whose ranks swelled with unemployed, especially unemployed veterans. | ||
=== Imperial Resurgence === | === Imperial Resurgence === | ||