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of great power and full of sensational disclosures. The dramatic results of this speech need not be dwelt upon here (for details see Blum, Das deutsche Reich zur Zeit Bismarcks, pp. 153-181). It must suffice to say that in the following May the great Vienna "Krach" occurred, and the colossal bubble of speculation burst, bringing with it all the ruin foretold by Lasker and Bamberger. From the position occupied by the Jews in the commercial class, and especially in the financial section of that class, it was inevitable that a considerable number of them should figure in the scandals which followed. At this moment an obscure Hamburg journalist, Wilhelm Marr, who as far back as 1862 had printed a still-born tract against the Jews (Judenspiegel), published a sensational pamphlet entitled Der Sieg des Judenthums über das Germanthum ("The Victory of Judaism over Germanism"). The book fell upon fruitful soil. It applied to the nascent controversy a theory of nationality which, under the great sponsorship of Hegel, had seized on the minds of the German youth, and to which the stirring events of 1870 had already given a deep practical significance. The state, according to the Hegelians, should be rational, and the nation should be a unit comprising individuals speaking the same language and of the same racial origin. Heterogeneous elements might be absorbed, but if they could not be reduced to the national type they should be eliminated. This was the pseudo-scientific note of the new anti-Semitism, the theory which differentiated it from the old religious Jew-hatred and sought to give it a rational place in modern thought. Marr's pamphlet, which reviewed the facts of the Jewish social concentration without noticing their essentially transitional character, proved the pioneer of this teaching. It was, however, in the passions of party politics that the new crusade found its chief sources of vitality. The enemies of the bourgeoisie at once saw that the movement was calculated to discredit and weaken the school of Manchester Liberalism, then in the ascendant. Agrarian capitalism, which had been dethroned by industrial capitalism in 1848, and had burnt its fingers in 1873, seized the opportunity of paying off old scores. The clericals, smarting under the Kulturkampf, which was supported by the whole body of Jewish liberalism, joined eagerly in the new cry. In 1876 another sensational pamphlet was published, Otto Glogau's Die Börsen und Grundergeschwindel in Berlin ("The Bourses and the Company Swindles in Berlin"), dealing in detail with the Jewish participation in the scandals first revealed by Lasker. The agitation gradually swelled, its growth being helped by the sensitiveness and cacoëthes scribendi of the Jews themselves, who contributed two pamphlets and a much larger proportion of newspaper articles for every one supplied by their opponents (Jacobs. Bibliog. Jew. Question, p. xi.). Up to 1879, however, it was more of a literary than a political agitation, and was generally regarded only as an ephemeral craze or a passing spasm of popular passion.

Towards the end of 1879 it spread with sudden fury over the whole of Germany. This outburst, at a moment when no new financial scandals or other illustrations of Semitic demoralization and domination were before the public, has never been fully explained. It is impossible to doubt, however, that the secret springs of the new agitation were more or less directly supplied by Prince Bismarck himself. Since 1877 the relations between the chancellor and the National Liberals had gradually become strained. The deficit in the budget had compelled the government to think of new taxes, and in order to carry them through the Reichstag the support of the National Liberals had been solicited. Until then the National Liberals had faithfully supported the chancellor in nursing the consolidation of the new empire, but the great dream of its leaders, especially of Lasker and Bamberger, who had learnt their politics in England, was to obtain a constitutional and economic régime similar to that of the British Isles. The organization of German unity was now completed, and they regarded the new overtures of Prince Bismarck as an opportunity for pressing their constitutional demands. These were refused, the Reichstag was dissolved and Prince Bismarck boldly came forward with a new fiscal policy, a combination of protection and state socialism. Lasker and Bamberger thereupon led a powerful secession of National Liberals into opposition, and the chancellor was compelled to seek a new majority among the ultra-Conservatives and the Roman Catholic Centre. This was the beginning of the famous "journey to Canossa." Bismarck did not hide his mortification. He began to recognize in anti-Semitism a means of "dishing" the Judaized liberals, and to his creatures who assisted him in his press campaigns he dropped significant hints in this sense (Busch, Bismarck, ii. 453-454, iii. 16). He even spoke of a new Kulturkampf against the Jews (ibid. ii. p. 484). How these hints were acted upon has not been revealed, but it is sufficiently instructive to notice that the final breach with the National Liberals took place in July 1879, and that it was immediately followed by a violent revival of the anti-Semitic agitation. Marr's pamphlet was reprinted, and within a few months ran through nine further editions. The historian Treitschke gave the sanction of his great name to the movement. The Conservative and Ultramontane press rang with the sins of the Jews. In October an anti-Semitic league was founded in Berlin and Dresden (for statutes of the league see Nineteenth Century, February 1881, p. 344).

The leadership of the agitation was now definitely assumed by a man who combined with social influence, oratorical power and inexhaustible energy, a definite scheme of social regeneration and an organization for carrying it out. This man was Adolf Stöcker (b. 1835), one of the court preachers. He had embraced the doctrines of Christian socialism which the Roman Catholics, under the guidance of Archbishop Ketteler, had adopted from the teachings of the Jew Lassalle (Nitti, Catholic Socialism, pp. 94-96, 122, 127), and he had formed a society called "The Christian Social Working-man's Union." He was also a conspicuous member of the Prussian diet, where he sat and voted with the Conservatives. He found himself in strong sympathy with Prince Bismarck's new economic policy, which, although also of Lassallian origin (Kohut, Ferdinand Lassalle, pp. 144 et seq.), was claimed by its author as being essentially Christian (Busch, p. 483). Under his auspices the years 1880-1881 became a period of bitter and scandalous conflict with the Jews. The Conservatives supported him, partly to satisfy their old grudges against the Liberal bourgeoisie and partly because Christian Socialism, with its anti-Semitic appeal to ignorant prejudice, was likely to weaken the hold of the Social Democrats on the lower classes. The Lutheran clergy followed suit, in order to prevent the Roman Catholics from obtaining a monopoly of Christian Socialism, while the Ultramontanes readily adopted anti-Semitism, partly to maintain their monopoly, and partly to avenge themselves on the Jewish and Liberal supporters of the Kulturkampf. In this way a formidable body of public opinion was recruited for the anti-Semites. Violent debates took place in the Prussian diet. A petition to exclude the Jews from the national schools and universities and to disable them from holding public appointments was presented to Prince Bismarck. Jews were boycotted and insulted. Duels between Jews and anti-Semites, many of them fatal, became of daily occurrence. Even unruly demonstrations and street riots were reported. Pamphlets attacking every phase and aspect of Jewish life streamed by the hundred from the printing-press. On their side the Jews did not want for friends, and it was owing to the strong attitude adopted by the Liberals that the agitation failed to secure legislative fruition. The crown prince (afterwards Emperor Frederick) and crown princess boldly set themselves at the head of the party of protest. The crown prince publicly declared that the agitation was "a shame and a disgrace to Germany." A manifesto denouncing the movement as a blot on German culture, a danger to German unity and a flagrant injustice to the Jews themselves, was signed by a long list of illustrious men, including Herr von Forckenbeck, Professors Mommsen, Gneist, Droysen, Virchow, and Dr Werner Siemens (Times, November 18, 1880). During the Reichstag elections of 1881 the agitation played an active part, but without much effect, although Stöcker was elected. This was due to the fact that the great Conservative parties, so