There is a problem with this solution as France: you can recruit dragoons only in the theaters other than Europe. So, if you, like me, decided to sell your outremer possessions to focus on Europe alone...

In my game as France, all my towns but the ones starting with an education building were converted to religious schools. Never had an unrest problem until I decided, forty turns later, to turn those into workshops... Granted, you really need to spam Indiamans and hog the trade spots like a pig to get any decent income in the early game that way.