Turmoil
1918-1921 		World War II
1939-1944







Return to Stability under the Horthy Regime, 1921-1939


Admiral Horthy's government emerged strengthened from the failed royal coup d'etat. His style of government was patriarchal; communists were regarded as suspect since the days of the Soviet Republic.
Strongman Miklos Horthy brought inflation under control. The country slowly returned to economic stability. Hungary's economy, however, depended on large foreign loans, and when these were recalled by U.S. banks after the Wall Street Crash of 1929, the Great Depression set in.
In 1933, Gyula Gömbös attempted to establish a fascist corporate state; he failed, but Hungary pursued a foreign policy of being sympathetic to Germany and Italy, but maintaing political neutrality and striving for regaining some of the areas lost in the Treaty of Trianon. In the Munich Pact of 1938, Czechoslovakia ceded regions with a Hungarian population majority, located in Southern Slovakia, to Hungary. When Germany occupied the remainder of Czechia in March 1939, Hungary annexed Carpatho-Ruthenia.





EXTERNAL
LINKS 		Trianon Hungary, from C.A. Macartney, Hungary - A Short History, 1962
The Red and the White, from Istvan Lazar, Hungary - A Brief History, 1989/1993
DOCUMENTS Hungarian Statesmen, from World Statesmen (B. Cahoon)
Historical Population Statistics : Hungary, from Population Statistics (J. Lahmeyer)
Flag of 1918-1945, from FOTW
Hungarian banknotes 1930ff, from Ron Wise's World Paper Money and from Currency Museum
U.S.-Hungary Peace Treaty 1921, from Wikisource
Hikmet Öksüz, The Reflections of the Balkan Pact in Turkish and European Public Opinion, in : Turkish Review of Balkan Studies 2007 pp.147-171
REFERENCE Peter F. Sugar (ed.), A History of Hungary, Indiana Univ. Press 1990, 432 pp.
Annotated Memoirs of General Miklos Horthy, from Historical Text Archive, Online Book
Chapter XXVIII : Hungary and Dr. Habsburg, pp.418-427, in : John Gunther, Inside Europe, 1940 war edition, NY : Harper & Bros. [G]
Article : Hungary, in : Statesman's Yearbook 1924 pp.1008-1016, 1925 pp.1016-1023, 1926 pp.985-993, 1928 pp.1006-1015, 1929 pp.990-999, 1932 pp.998-1008, 1937 pp.1030-1039 [G]
Article : Hungary, in : Americana Annual 1927 pp.419-421, 1928 pp.371-373, 1930 pp.383-385, 1931 pp.383-385, 1932 pp.344-346, 1933 pp.376-379, 1934 pp.295-296, 1935 pp.351-353, 1936 pp.349-350, 1937 pp.342-343, 1938 pp.330-331, 1939 pp.363-365 [G]
Article : Hungary, in : New International Year Book 1923 pp.335-337, 1925 pp.315-318, 1928 pp.335-338, 1930 pp.352-355, 1932 pp.363-365, 1933 pp.349-350, 1934 pp.301-303, 1935 pp.311-313, 1938 pp.323-325, 1939 pp.348-350 [G]
Article : Hungary, in : Funk & Wagnall's New Standard Encyclopedia Year Book 1932 pp.304-305, 1933 pp.283-284, 1934 pp.281-283, 1935 pp.276-278, 1936 pp.247-249, 1937 pp.252-254, 1938 pp.258-261, 1939 pp.281-283 [G]


This page is part of World History at KMLA
First posted in 2000, last revised on August 24th 2007

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