mental power. Furthermore he is a military fanatic because this offers increased opportunities for officers, careers to which the sons of the bourgeois were little inclined. Again, he formerly demanded a forcible policy in both foreign and internal affairs. In this same way, the financier finds militarism and a strong active governmental policy, both external and internal, very agreeable. The kings of finance need not fear a strong governmental power, independent of people and Parliament, because they can rule such a power either directly as bondholders, or else through personal and social influences. In militarism, war and public debts they have a direct interest, not only as creditors, but also as government contractors, since the sphere of their influence, their exploitation, their power and their wealth is thereby increased.
It is wholly different with industrial capital. Militarism, war and public debts signify high taxes which the wealthy must assist in bearing, or else the cost of production is increased. War signifies besides this a stagnation in the production of commodities, a break in trade, economic difficulties and frequently ruin. Where the financier is rash, extravagant and violent the industrial manager is frugal, timid and peace-loving. A strong governmental power arouses anxiety in him and all the more because he cannot directly control it. His interests demand rather a strong parliament than a strong gov-
