Page:The New International Encyclopædia 1st ed. v. 16.djvu/560

* PETJSSIA. 490 PBTTSSIA. Out of a total of 3,000.503 persons engaged in the manufacturing c-tablishments of Germany in 1895, 4,572,125, or 57 per cent., were employe*! in Prus.sia. They were distributed among the fore- going industries (the figures of 1S82 being also given for purposes of comparison ). Tr.V.N.SPOBT.TIOX ."CfD COMMUXICATIOX. One of the greatest factors in the industrial development of Prussia has been the exc-ellence of its inland water routes and railroad lines, which supple- ment instead of rivaling one another. An enor- mous tonnage is carried on the great rivers, on their canalized tributaries, and on the canals, which connect the rivers, so that the waterways as well as the railroads gridiron Prussia, serving commerce between the east and west as well as between north and south. Steel lighters of large tonnage and small draught have replaced heavy wooden boats on the canals. The Government expends enormous sums in the improvement and maintenance of the waterways. In the thirteen years ending in 1003. the public treasury dis- bursed ^58,388,750 on the rivers, canals, and wagon roads, and new canal projects or river im- provements are constantly underway. The Kaiser Wilhelm Canal saves two days of steam travel between Hamburg and the Baltic ports as com- pared with the old route around Jutland. The Prussian railway system covers not only the entire territorj- of the kingdom, but also that of several minor German States, thus com- manding the commerce of all Northern Germany. Since 1897, when the Prussian railway system was combined with that of Hesse. Prussia has effected an entrance into the southern territory of Germany. (See Gersiaxy. paragraph on Kail- icays.) In 1902 there were 21,110 miles of rail- road in operation in Pnissia. of which the State owned or administered 19,440 miles. Government ownership and operation has proved a complete success from a financial and commercial point of view. Tlie fJovemment derives nearly one-fourth of its entire revenue from the profits of its rail- way operation, and is able by the manipulation of freight rates to come to the aid of industries in need of special encouragement. Prussia is one of the sis German States pos- sessing a merchant marine. It ranks third, be- ing exceeded by Hamburg and Bremen. Stettin, the largest Prussian port, is far behind. The Baltic ports are frozen over in winter, but that of Stettin is kept open by ice-breakers. It is the nearest port to Berlin, and one of the present canal projects is to connect them by a waterway. Danzig is a large outlet for the cereals of North- east Prussia. Other important seaports are Konigsbcrg. ^lemel. and Altona. The merchant marine in 1900 c-omprised .531. steamers, of 193,- 411 tons net capacity, and 1.543 sailing vessels, of 76,893 tons. Prussia carries on about one-third of the total German foreign trade. Commerce. The commerce of Prussia is facili- tated by her central position and by the network of river and canal navigation, which make her territories the connecting medium between several of the great European States, and give her a free outlet to the rest of the world. Yearlv markets are held in about 2700 towns. See Germ.xt, paragraph on fommrrc. B.TKI?>G. The banking system of Prussia does not differ from that of the rest of the German Empire. (See Gebmaxt, paragraph on Banking.) The Imperial Bank acts as the fiscal agent of the kingdom. Prussia occupies a commanding p<jsi- tion in the banking world of Germany, since Ber- lin is the most important financial centre of the country. The eleven great corporate banks of Berlin (not including private banks like Bleich- rOder, etc.) do almost as great a business as the Imperial Bank of Germany, with its 300 branches. In the closing year of the nineteenth century the combined volume of business done by the Berlin banks was about 1.55.000.000.000 marks (nearlv .?39.000.000,000), as compared with 180.000,00o!- 000 marks done by the Imperial Bank. The capi- tal stock of the eleven banks of Berlin has in- creased about five-fold since their foundation, and the combined volume of business. estimate<l at about 155.000,000.000 marks (allowing 20.000.- 000,000 for the three banks not reporting), was about 138 times as large as their available working capital. The leading bank is the Deutsche Bank, with a capital stock of 1.50.000.- 000 marks. Each of the Berlin banks shows a larger capitalization than that of any national bank in the United States and compares very favorably with the banks of France. An im- portant financial institution is the Prussian Maritime Association (Seehandlung), foumled by Frederick the Great in the middle of the eight- eenth century. It was the chief financial support of the Prussian Government for more than a century, until the formation of the CJerman Em- pire, and was intrusted with the investment of the enonnous war contribution exacted from France. It is the prototype of the 'credit mobi- lier" institutions which found such favor during the nineteenth eenturv- in France and other coun- tries. Its activity may Ije seen from the fact that with a capital stock of" less than 39.000.000 marks it had assets exceeer cent, ot the entire tax revenue. The principal direct tax is the progressive income tax. Persons deriving' less than a fixed minimum income are exempt. Another important source of revenue in Prussia is the income obtainefl from Government domains and industrial enterprises, railways, mines, salt works, mills, etc. The net revenue derived from these sources exceeds 650,000,000 marks. The chit f item of expenditure in the Prussian budget is t'lt- so-called working expense in connection with Gov emuient enterprises. The next item is the con- tribution to the Imperial funds, which every State is required to make to complete the revenue of the Empire. (See Gekma.vy, paragraph on Finance.) Xext come the interest on the pub- lic debt, which absorbs nearly 10 per cent, of tl^' ordinary expenditure; public instruction and wor ship, with 6 per cent.: justic-e: and finance '■'' other items of expenditure are all below |i' 000 marks, and the war expenditure is iu-:....- cant. about S.30.000 in 1902. all the war expendi- ture being met directly from Imperial funds. The growth of the Prussian budget in the last quarter of the nineteenth century is shown by the follow- ing table (in millions of marks). The public debt of Prussia has grown to enor- mous proportions. In 1S67 it was 1.323.0OO.O00 marks; in 1881, 1,995,000,000; in 1891, 5,205,-