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422 Hercules step down into the arena and challenge everyone to come into the lists. In the arena of commerce England was the strongest. This was why she advocated Free Trade, for Free Trade was really the right of the most powerful. English interests were furthered under the veil of the magic word Freedom, and by it German enthusiasts for liberty were enticed to bring about the ruin and exploitation of their own country.

If we look at the matter purely from the economic point of view, it is indeed difficult to see what benefits Germany would gain from a policy of Free Trade. It was a poor country; if it was to maintain itself in the modern rivalry of nations, it must become rich. It could only become rich through manufactures, and manufactures had no opportunity of growing unless they had some moderate protection from foreign competition.

The effect of Bismarck's attention to finance was not limited to these great reforms; he directed the whole power of the Government to the support of all forms of commercial enterprise and to the removal of all hindrances to the prosperity of the nation. To this task he devoted himself with the same courage and determination which he had formerly shewn in his diplomatic work.

One essential element in the commercial reform was the improvement of the railways. Bismarck's attention had long been directed to the inconveniences which arose from the number of private companies, whose duty it was to regard the dividends of the shareholders rather than the interests of the