THE FIRM OF KRUPPS
KAISER A SHAREHOLDER. ' With its collieries, its iron mines, and its steel factories, its workshops of Essen and Magdeburg, its naval dockyards of Kiel with their 5000 engineers, 60,000 workmen, and tho 250,000 persons- who owe their livelihood to it, the famous firm of Krupp represents (says a writer in. "Everyman") the most powerful and complete achievement of modem . industry in the service, of the genius of destruction. Instead of great banks— which, by the way, have saved it more than once- from disaster —it .boasts a sleeping partner and protector, none other than the Emperor of Germany. How does it happen that the head of the most powerful military nation of tho world should at the same time bta shareholder in the largest gun factory? It happened in 1867. Bismarck, having defeated the Austriaus at Sadowa, thought of making war on 'France. For that he needed a formidable artillery, and Krupp could only supply it. "Unfortunately the workshops at Essen, were not fitted up on scale big enough to permit of their carrying out in two or three years the programme mapped out by Moltko: they would have to construct new machines, increase the size of the buildings, and capital was lacking. In those days tho German banks had not tbs enormous credit they now possess, and the secret designs of Prussia could not be confided to foreign financiers. Then King William I came to the rescue. He realised on his personal fortune five million thalers (about 20 million francs, or £S00,000), which he lent to Krupp, wliose partner he tlra:i became. 'J transaction was advantageous to both parties; three years later King William was crowned, at Versailles, German Emperor. The Prussian victory was tho most marvellous advertisement for steel guns. The whole world came to Essen for arms'. 'Che house of Krupp became tho most powerful metallurgic firm in the world, and Emperor William I, its sleeping partnor, saw Itwenty million francs triplo their value.
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Dominion, Volume 7, Issue 2249, 8 September 1914, Page 8
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331THE FIRM OF KRUPPS Dominion, Volume 7, Issue 2249, 8 September 1914, Page 8
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