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The Union of Germany in 1871, a Union of blood and iron, forged together by the warhammers of Moltke and Roon and Bismarck had, after a generation, brought an unheard-of advance in material prosperity. At the same epoch the great discoveries of the igth century had opened unknown sources of wealth, and an altogether phenomenal industrial development over the entire globe. The Anglo-Saxons, who started colonising after Portuguese, Spaniards and at the same time as Hollanders and French, had confiscated a great part of the colonies, founded by these nations and had brought them all to a high state of prosperity. The United States and the countries of Spanish America had become markets whose magnitude far exceeded the boldest dreams of their founders. The colonial possessions of Great Britain and of Holland and France, by a combination of favorable circumstances, had become markets which absorbed stupendous quantities of the goods which were turned out by millions of yards and pounds by the factories of Europe, brought to that perfection which only the scientific discoveries and