GERMAN WORLD POLICY: ECONOMIC
The significance of the period during which Germany occupied a position of virtual mastery in Europe can hardly be overestimated. It was the time when the young empire, having secured its military predominance by the defeat of Austria and France and won political primacy through the creation of the Triple Alliance, began to forge ahead as a great industrial and commercial Power and even to threaten the supremacy so long held by Great Britain. Bismarck never failed to recognize the necessity of economic prosperity to a great state, and his desire to preserve the peace after 1871 was actuated in no small degree by his ambitions for the growth of German industry and commerce. Largely for the same reason, the Kaiser William II believed it necessary to keep the destinies of Europe under German control.
Their hopes were fulfilled. During the period of almost unruffled calm that followed the Treaty of Berlin in 1878, Germany passed through an economic transformation which, in conjunction with an equally significant moral transformation, was destined to exercise the most important effect upon the international diplomatic situation. The almost unparalleled growth of Germany's industries, the extension of her commerce, her skill and success in competing for