THE EVOLUTION OF 
GERMAN BANKING. 
I. 
ECONOMIC DEVELOPMENT OF GERMANY 
SINCE 1800. 
Germany is celebrating this year the centennial 
anniversary of her liberation from the yoke that 
Napoleon imposed upon her at the beginning of 
the nineteenth century. It was his thought-out 
policy to reduce Germany by relentless humiliation 
and oppression—by sucking the very marrow out 
of her—to a helpless and hopeless quantite negli- 
geable. The Government was weak and wavering, 
but fortunately there were men of intellect and 
courage, public-spirited, great leaders, and heroic 
patriots who, at an opportune moment, roused 
and rallied their people in order to free them from 
the Corsic Imperator’s serfdom; names like 
von Stein, Hardenberg, Arndt, Koerner, Scharn- 
horst, Gneisenau, etc., have become household 
words in Germany.