And in a speech two years later (November 29, 1881) he returned to the same idea: It was towards 1877 that I was first struck with the general and growing distress in Germany as compared with France. I saw furnaces banked, the standard of well-being reduced, and the general position of workmen becoming worse and business as a whole terribly bad. In the book from which these extracts are taken[20] the author writes as an introduction to Bismarck's speeches: Trade and industry were in a miserable condition. Thousands of workmen were without employment, and in the winter of 1876-77 unemployment took great proportions, and soup-kitchens and State workshops had to be established. Every author who deals with this period seems to tell broadly the same tale, however much they may differ in detail. "If only we could get back to the general position of things before the war," said M. Block in 1879. "But salaries diminish and prices go up."[21] At the very time that the French millions were raining in upon Germany (1873) she was suffering from a grave financial crisis, and so little effect did the transfer of the money have upon trade and finance in general, that twelve months after the payment of the last of the indemnity we find the bank rate higher in Berlin than in Paris; and, as was shown by the German economist Soetbeer, by the year 1878 far more money was in circulation in France than in Germany.[22] Hans Blum, indeed, directly ascribed the series of crises between the years 1873 and 1880 to the indemnity: "A burst of prosperity and then ruin for thousands."[23] Throughout the year 1875 the bank rate in Paris was uniformly 3 per cent. In Berlin (Preussische Bank, which preceded the Reichs Bank) it varied from 4 to 6 per cent. A similar difference is reflected by the fact that, between the years 1872 and 1877, the deposits in the State savings banks in Germany actually fell by roughly 20 per cent., while in the same period the French deposits _increased_ about 20 per cent. Two tendencies plainly show the condition of Germany during the decade which followed the war: the enormous growth of Socialism--relatively much greater than any which we have ever since seen--and the immense stimulus given to emigration.