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Additional info for The Kaiser and His Court: Wilhelm II and the Government of Germany

Example text

Shipments abroad were strictly prohibited. The state was reluctant to allow unregulated cultivation because almost all peasants remained devoted to traditional controls. The economy of continental Europe thus remained essentially what it had been for centuries. Only in Flanders was intensive cultivation and the stabling of livestock commonly practised—which was made possible by abandoning the tradition of permitting the ground to lie fallow and instead using this land for fodder and oleaginous crops.

They had to endure long delays from european economy their buyers, even when the purchaser was wealthy, and so resorted to accommodation bills. , firms or other collective organizations—and sleeping partnerships. State authorization was needed to establish a joint-stock company. Stocks were registered, or at least could not be transferred without the company’s consent. Sleeping partners and shareholders lacked the legal protection of limited liability. French jurisprudence, still in an indecisive stage, tended only to restrict the shareholder’s contribution to the company’s assets.

Although its bank was jeopardized by advances to the India Company and to the city, its financiers were still able to provide credit to other states. It was said that they could lend 14 million florins annually and that their investments reached 1 billion. Genoa, Geneva, and Bern also placed funds abroad; London and Paris were more often borrowers. Bankers of these cities maintained close contact. Always on the lookout for advantageous speculation, they built up a network of international finance which ignored national boundaries.

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