The 18th-century Anglo-Irish statesman Edmund Burke, who opposed the French Revolution but supported the American Revolution, is credited as one of the forefathers of conservative thought in the 1790s along with Savoyard statesman Joseph de Maistre. The first established use of the term in a political context originated in 1818 with François-René de Chateaubriand during the period of Bourbon Restoration that sought to roll back the policies of the French Revolution and establish social order.
Edmund Burke (1729 – 1797) was an Irish statesman, author, orator, political theorist and philosopher who, after moving to England, served for many years in the House of Commons of Great Britain as a member of the Whig party.
He is mainly remembered for his support of the cause of the American Revolutionaries, and for his later opposition to the French Revolution. The latter led to his becoming the leading figure within the conservative faction of the Whig party, which he dubbed the "Old Whigs", in opposition to the pro–French Revolution "New Whigs", led by Charles James Fox.
Burke was praised by both conservatives and liberals in the 19th century. Since the 20th century, he has generally been viewed as the philosophical founder of modern Conservatism, as well as a representative of classical liberalism.
An economic downturn was beginning in Canada by 1958. By mid-1961, differences in monetary policy led to open conflict with Bank of Canada Governor Coyne, who adhered to a tight money policy. Negotiations between Minister of Finance Fleming and Coyne for the latter's resignation broke down, with the governor making the dispute public, and John Diefenbaker sought to dismiss Coyne by legislation. Once he had the opportunity to testify (denied him in the Commons), Coyne resigned, keeping his increased pension, and the government was extensively criticised in the press. By the time Diefenbaker called an election for June 18, 1962, the party had been damaged by loss of support in Quebec and in urban areas as voters grew disillusioned with Diefenbaker and the Tories. The PC campaign was hurt when the Bank of Canada was forced to devalue the Canadian dollar to 92½ US cents; it had previously hovered in the range from 95 cents to par with the United States dollar. Privately printed satirical "Diefenbucks" (pictured) swept the country.
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