A Proud Day—Christopher E. Baldwin, page

interest rates lower than those on the Continent.

William III confirmed the Whig settlement partly for military reasons: Regulation was costly, and he needed cash to fight the Sun King. A long, desperate struggle between the two contending systems ensued; but although England eventually triumphed over France, the victory did not doom the principle for which the French fought. It is true that France began to move, after the defeat of Bonaparte, in a Whig direction; and in the days of Guizot and the July Monarchy French liberalism reached its zenith. Russia and Austria, however, two of the signatories to Castlereagh’s 1814 pact, remained committed to the autocratic model of Louis XIV, and sought to defend it through a Holy Alliance with Prussia.

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Christopher E. Baldwin

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interest rates lower than those on the Continent.

William III confirmed the Whig settlement partly for military reasons: Regulation was costly, and he needed cash to fight the Sun King. A long, desperate struggle between the two contending systems ensued; but although England eventually triumphed over France, the victory did not doom the principle for which the French fought. It is true that France began to move, after the defeat of Bonaparte, in a Whig direction; and in the days of Guizot and the July Monarchy French liberalism reached its zenith. Russia and Austria, however, two of the signatories to Castlereagh’s 1814 pact, remained committed to the autocratic model of Louis XIV, and sought to defend it through a Holy Alliance with Prussia.