dition of things that emigration and unemployment
are considerably diminished in Germany. In 1908 only 20,000 emigrants
left our country; further, according to the statistics of the workmen's
unions, only 4.4 per cent, of their members were unemployed, whereas in
the same year 336,000 persons emigrated from Great Britain and 10 per
cent. (in France it was as much as 11.4 per cent.) of members of
workmen's unions were unemployed.

Against this brilliant prosperity must be placed a very large national
debt, both in the Empire and in the separate States. The German Empire
in the year 1910 had 5,016,655,500 marks debt, and in addition the
national debt of the separate States on April 1, 1910, reached in--

Marks
Prussia 9,421,770,800
Bavaria 2,165,942,900
Saxony 893,042,600
Wuertemberg 606,042,800
Baden 557,859,000
Hesse 428,664,400
Alsace-Lorraine 31,758,100
Hamburg 684,891,200
Luebeck 666,888,400
Bremen 263,431,400

Against these debts may be placed a considerable property in domains,
forests, mines, and railways. The stock capital of the State railways
reached, on March 31, 1908, in millions of marks, in--

Marks,
Prussia (Hesse) 9,888
Bavaria 1,694
Saxony 1,035
Wuertemburg 685
Baden 727
Alsace-Lorraine 724

--a grand total, including the smaller State systems, of 15,062 milliard
marks. This sum has since risen considerably, and reached at the end of
1911 for Prussia alone 11,050 milliards. Nevertheless, the national
debts signify a very heavy burden, which works the more disadvantageously
because these debts are almost all contracted in the country, and
presses the more heavily because the communes are also often greatly in
debt.

The debt of the Prussian towns and country communes of 10,000
inhabitants and upwards alone amounts to 3,000 million marks, in the
whole Empire to some 5,000 million marks. This means that interes