The humanities and social science

2021 Issue №3

Back to the list Download the article

Attempts to reform the financial system of the German Empire in the early XX century



Preparation for the World War I at the turn of the XIX-XX centuries challenged various national financial systems. The German Empire faced this challenge, so its finances bad to be regularly strengthened in order to cover all the mass military needs. After O. v. Bismarck’s resignation, the positions of the chancellor were held by politicians who did not have any background in economics and finance: L. v. Caprivi, H. Hohenlohe-Schillingsfuerst. The problem was passed then to new Head of the German Government – Bernhard von Buelow, who was the Reichschancellor from 1900 till 1909. By this time a large-scale project, dedicated to creation of powerful navy (since 1897), was already – in progress. New Reichschancellor’s Government tries to stimulate the financial system of the country, however, without much progress. Reforms of the German financiers of that time have been the issue to study by Russian or foreign scientists. This article is concerned with the task of examination of these reforms taking place in 1904 and 1906.