But foreign commerce is not concerned with the sale of manufactured
articles only. In its export trade, German industry was closely allied
with German shipping and German finance. The services rendered German
trade by the German merchant marine need not be reiterated; they
are sufficiently well known. The relationship between the policies
of German industry and the policies of German finance was no less
important. The export of goods by German factories was supplemented by
the so-called “export of capital” by German banks. Sometimes the German
trader followed the German investor; sometimes the investor followed
the trader. But whichever the order, the services rendered by the
investor were to develop the purchasing power and the prosperity of the
market, as well as to oil the mechanism of international exchange.[35]
The industrial export policy and the financial export policy went hand
in hand. Certainly this was the case in the Near East.
The German Empire depended for its welfare, if not for its existence,
upon an uninterrupted supply of food for its workers and of raw
materials for its machines. But this supply, in turn, was conditional
upon the maintenance and development of a thriving export trade. The
allies of this export trade were a great merchant marine and a vigorous
policy of international finance and investment. Thus the nation which
in 1871 was economically almost self-sufficient, by 1900 had extended
its interests to the four corners of the earth. This could not have
been without its effects upon German international policy. “The
strength of the nation,” said Prince von Bülow, “rejuvenated by the
political reorganization, as it grew, burst the bounds of its old home,
and its policy was dictated by new interests and needs. In proportion
as our national life has become international, the policy of the
German Empire has become international.... Industry, commerce, and the
shipping trade have transformed the old industrial life of Germany into
one of international industry, and this has also carried the Empire in
political matters beyond the limits which Prince Bismarck set to German
statecraft.”[36]
Public-domain text, read in full here on John Shaqi.
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