Pester Lloyd

Pester Lloyd is a German language online daily newspaper from Budapest, Hungary with the focus "on Hungary and Eastern Europe".

Its first stint of existence was from 1854 to 1945; until 1945 it was the leading German language publication in Hungary. Its origin was a vital part of the modernization of Hungary in the 1850s. Until then Hungary was part of the Habsburg Empire, ruled by the regime in Vienna. It chafed under restrictions which tended to see it as a vassal to be exploited for its agricultural products, for tax income, and for conscripts for the Austrian army, while at the same time keeping industrial development and financial power in Austrian hands. In the 1840s the political and business classes, led by Lajos Kossuth and his vision pressed for change, but met with obstinate resistance in Vienna. The result, in 1848, was the Hungarian Revolution which became a war for independence from Austria. Kossuth and his associates created an independent government and succeeded for a time, but upon Russian intervention it was quickly put down. In the aftermath the leaders of the rebellion were hanged, imprisoned or exiled and Hungary faced years of brutal military occupation by the Austrian army. All political life was totally stamped out.

Far-sighted individuals who survived all this now asked themselves, what can we do to rebuild Hungary? Organizations or publications of the least political nature were clearly out of the question but Austrian policy allowed, even encouraged, economic development—in the late 1830s investment in the building of railroads had created great profits and the banks in Vienna had an appetite for more of the same.

The political and financial heart of Hungary was the sprawling market city of Pest, the portion of present- day Budapest on the left bank of the Danube. Its location there had over many centuries made it a trading center for merchandise moving between northern Europe and the East — Turkey, Russia and beyond. Its quarterly expositions mounted 900 booths and attracted thousands of dealers. In 1844, 15,000 wagon loads plus 947 river boatloads of goods were sold in the markets of Pest. The main products were agricultural: wool, wheat, tobacco, swine and cattle.

...
Wikipedia