Germany -- Foreign relations; World War, 1914-1918; World War, 1914-1918 -- Economic aspects
In this way the latter-day German banks upset all financial
traditions, opened large credits to industries, smoothed the way for
the spread of German commerce, killed foreign competition and
seconded the national policy of their Government. As an instance of
the push and audacity of these modernized institutions, a master
stroke of the Bank of Behrens and Sons of Hamburg may be mentioned: it
bought up the entire coffee crop of Guatemala one year to the
amazement of its rivals and netted a very large profit by the
transaction.
Now as commerce is international and industry depends for its greatest
successes upon exportation, it was inevitable that the up-to-date
German banks should seek fields of activity abroad and aim at playing
a commanding part in the world's commerce. And they tried and
succeeded. For they alone instinctively divined the new spirit of the
age, which may be termed co-operative and agglutinative. It was in
virtue of this new idea that groups of States were leagued together by
Germany in view of her projected war, and it is the same principle
that impels her, before the conflict has yet been decided, to weld to
herself as many tributary peoples as she may to assist her in the
economic struggle which will be ushered in by peace. Germans first
semiconsciously felt and now deliberately hold that in all departments
of modern life, social, economic and political, our conception of
quantities must undergo a radical change. The scale must be greatly
enlarged. The unit of former times must give place to a group of
units, to syndicates and trusts in commerce and industry, to trade
unions in the labour world, to Customs-federations in international
life. That this shifting of quantities is a correlate of the progress
achieved in technical science and in means of communication, and also
of the vastness of armies and navies and of the aims of the world's
foremost peoples, is since then become a truism, realized not only by
the Germans but by all their allies.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account