The persistent pressure which Germany brought to bear on the even more protectionist systems of Russia and Austria undoubtedly induced those Powers to grant easier terms to German goods than they would have done had Germany lost her bargaining power by persisting in her former Free Trade tendencies.

Her success in this matter is the best instance in recent economic history of the desirability of holding back something in reserve so as to be able to bargain effectively with a Power that keeps up hostile tariffs.

In this jealously competitive age the State that has nothing more to offer is as badly off in economic negotiations as one that, in affairs of general policy, has no armaments wherewith to face a well-equipped foe.

This consideration is of course scouted as heretical by orthodox economists; but it counts for much in the workaday world, where tariff wars and commercial treaty bargainings unfortunately still distract the energies of mankind.
On the other hand, it would be risky to point to the internal prosperity of Germany and the vast growth of her exports as proofs of the soundness of protectionist theories.

The marvellous growth of that prosperity is very largely due to the natural richness of a great part of the country, to the intelligence, energy, and foresight of her people and their rulers, and to the comparatively backward state of German industry and commerce up to the year 1870.