Germany experienced an economic boom immediatley after unification.
Old impediments to internal trade were lifted.
Uniform currency was established.
Indemnity from France for the 1870-1871 war provided capital.
Period of intense financial construction was called Gründerzeit.
Gründerzeit ended with the stock market crash of 1873.
Despite the crash the ecomony continued to grow.
Coal production increased six fold by 1913, steel production tenfold.
The development of coal and steel mining led to the first industrial revolution.
The second industrial revolution was the growth of chemical and electrical industries.
By 1914 Germany was producing one half of the world's electrical equipment.
Germany became the continent's industrial giant.
Population increased from 41.1 million to 49.7 million from 1871-1891, which helped put more money into the economy. |
