Emancipation reform

Every year, thousands of nobles in debt mortgaged their estates to the noble land bank or sold them to municipalities, merchants, or peasants. By the time of the revolution, the nobility had sold off one-third of its land and mortgaged another third. The government hoped to make peasants—freed by the Emancipation reform of 1861—a politically conservative, land-holding class by enacting laws to enable them to buy land from nobility and pay small installments over many decades.