While cash-for-work was indeed one of the most important initiatives in Roosevelt's New Deal, there was another important policy that is often overlooked, and that was to rearm the armed forces. Like Jochen's fleet economics, Roosevelt stimulated economic recovery by expanding the navy on a large scale to facilitate the continued operation of related industries. After 1930, the U.S. Navy's large ships were not built on a large scale due to treaty restrictions, but the Navy's small and medium-sized ships entered the peak period of construction.

This move not only allowed the United States to maintain the operation of steel, power, shipbuilding and other related industries, but also allowed the US Navy to rapidly expand the strength of small and medium-sized ships and quickly complete the replacement of old ships in World War I. The "Orange Plan" for Japan, which was implemented in response to the expansion of Japan's naval power, was also developed during this period. The expansion of the navy is one of the components of this plan.

However, it is clear that Germany today is not as capable of building a large number of public institutions, employing more than 30 million workers, and implementing large-scale infrastructure including medical care, education, and social welfare, while also supporting the huge financial and material resources of the military expansion of the navy and army.

In the economic crisis in the 30s of the 20th century, the mustache played a game similar to Roosevelt, except that Germany, whose industrial capacity was less than 30% of that of the United States, could only concentrate on one of them, so Germany was to carry out militaristic evolution and "work for relief" around military production to stimulate the economy. Even so, Germany still did not have enough money to complete this national economic boost, so it had to divert attention by promoting racism and persecuting Jews, while at the same time confiscating a large amount of Jewish funds to do its job.

However, it is clear that although this has made the German economy improve in a short period of time, the economy and the military industry are too closely entangled. Moreover, rapid development also requires sufficient resources to support it, and when Germany itself cannot meet the needs of such resources, it can only look for them from abroad. But the Germans were once again faced with the dilemma of the Second Reich, and all the resources of the world were divided among others. Therefore, in the demand for resources and funds, and the catalyst of militarism, it is natural to launch a war of aggression.

Fortunately, it was the end of the 19th century, and the Second German Reich was not the Third Reich, which had fallen into a frenzy. As a new industrial power, the world's largest industrial capacity, although this title will not be taken away by the Americans in 10 years, but it is much better than the half-dead Third Reich at that time. So Jochen believes that, at least by focusing only on domestic infrastructure, Germany is still capable of doing it. As for the expansion of armaments or something, Germany now does not have such an urgent need, and time is there.

At this time, the German economic crisis had been in place for more than a month, the people's spending power was declining rapidly, the economic bubble in the stock market was bursting, the capital was greatly reduced, investors were unable to repay their loans, and the banks did not have enough funds to turn over. People need cash to buy necessities to survive, and then they find that they can't withdraw money from the bank, and then the credibility of the bank declines, and no one wants to keep money in the bank without credibility, and then there is a run, and finally the whole banking industry collapses.

The collapse of the banks marks the collapse of the credit system, the absence of which further prevents producers from sustaining inputs. Under the economic crisis, the people's consumption capacity and the market's ability to digest have declined sharply, and the relationship between supply and demand has reversed. Selling goods at a low price not only does not get a warrant, but it will also result in a loss. In this case, production will be stopped, and the finished product will be destroyed in order to maintain the price and reduce its own losses.

At a time when these signs were already emerging, Caprivi united with the big bourgeois forces to propose government intervention and implement policies of expanding domestic demand, stimulating the economy, maintaining stability, and reducing losses, which had few opponents in the Imperial Diet.

Soon, the reorganization of the financial sector began, with the imperial government banning the exchange of gold for huàn and declaring it illegal to possess gold. All banks were ordered to close down for rectification, and bad debts were comprehensively inventoried and cleared up, thus creating a short-term financial vacuum, cutting off opportunities for speculators and buying time for the government to intervene.

The supervision and regulation of the securities market and the futures market began to be strengthened, and the imperial government convened a large number of economists and legal scholars to begin to formulate new financial trading regulations, and the maximum extent possible to avoid financial speculation, naked short selling, insider trading, dissemination of false information, manipulation of trading prices, and other behaviors were prohibited in the form of law.

At the same time, the government's grain purchases to ensure profits for agricultural producers, as well as increased investment in large-scale public infrastructure construction to stimulate the continuation of production, were supported by almost all of Germany's income earners. Of course, Caprivi is not a fuel-efficient lamp, so how can you take advantage of it? As a result, all enterprises related to the various raw materials, production tools, and transportation required by the government-led infrastructure must provide goods and services to the government at a minimum profit. Want to object? Then you will be excluded from government projects and left to fend for yourself. In this case, even a few people whose interests are damaged cannot resist the current, and of course, it is useless to resist, Germany is an absolute monarchy.

Moreover, the imperial government not only actively expanded domestic demand, but also actively looked for markets from the outside. Austria-Hungary also suffered heavy losses in the financial crisis, with the closure of a large number of factories leaving the domestic supply of industrial goods insufficient. Franz Joseph I turned to Germany for help, in which the situation was much better. And in order to obtain German support, Franz Joseph I also gave Jochen a 20% stake in Skoda and asked his son-in-law to help convince the German government. In fact, there was no need for this, and Austria-Hungary's request coincided with Caprivi's, which was trying to expand its exports, and Germany and Austria-Hungary reached a trade agreement and began to exchange various industrial goods from Austria-Hungary for raw materials and grain.

The fact that the Germans imported goods into Austria-Hungary at a fairly low price in order to keep production running began to harm the interests of Austrian industrial producers, while the Hungarians maintained a basic profit because their goods could be exported. At this time, Austria-Hungary could only import industrial goods from Germany to meet social demand, so the contradictions between Austria and Hungary grew. Moreover, at the behest of Jochen, Caprivi began to deliberately create the impression that the mark was stronger in Austria-Hungary, and the better economic situation in Germany also made the Austro-Hungarian people trust the purchasing power of the mark more, and the mark began to circulate in Austria-Hungary.

And Tsarist Russia was also moved to see that Austria-Hungary could obtain industrial goods from Germany at a fairly low price. Should it be said that it is far away from the Western economic center, or the financial system is not perfect, anyway, Maozi has been very little affected by this economic crisis. There is money in hand, and its own industrial capacity is not strong, and France, the big financier of Tsarist Russia, is also in the whirlpool of economic crisis at this time, and France, which implements free trade, still has a headache at this time, how can it have the energy to provide industrial products to Tsarist Russia, and the trade agreement between Germany and Russia has allowed German industrial products to occupy a considerable Russian market, so Tsarist Russia requires Germany to also export industrial products at low prices, and the Germans will certainly not let go of this opportunity.

Austria-Hungary and Tsarist Russia, the two hegemons in the Balkans, traded with Germany, and Romania, Bulgaria, and Serbia also reached trade agreements with Germany. At the same time as Germany sold goods to obtain raw materials, it began to extend its capital tentacles into these countries.

If this is placed in the 21 st century, it will definitely be regarded as dumping, and various governments will definitely have to come up with some kind of anti-dumping bill in order to protect their own markets. But now, the Germans are dumping at low prices to maintain their economic viability. And Caprivi, who contributed to this qiē, also received the title of count. Historically, Caprivi was attacked by the agrarian Junkers after brokering trade agreements with Austria-Hungary and Romania, but now, with a series of initiatives by Caprivi Guò uniting a large number of capitalists, a new faction of political forces is slowly taking shape.

A series of measures have stopped the German economy, although it cannot be said that it has begun to recover, but at least the continued deterioration has been stopped, and the people have begun to regain confidence in the national economy. The imperial government, on the other hand, took advantage of this opportunity to issue public bonds to concentrate the flow of funds and use them to continue to build infrastructure. The issuance of public bonds, because the circulating funds in the market are concentrated in the hands of the government, will cause deflation in a short period of time, and if it is not for the good reputation of the state, it will be self-defeating, and then it will return to the old path of runs, bank bankruptcies, and financial collapse. It is only when Germany is now so socially stable and normal in circulation that it can be carried out.

However, the gold standard limits the amount of government bonds that Germany can issue, because although deflationary in the short term, it is inflationary in the long run. And Germany does not have enough gold to support the increase in the currency, so it can only delay the economic recovery and wait for the amount of gold to rise to solve the problem, and the words of Yan zhòng will turn into a collapse of the country's credit. The country is bankrupt? Just look at Greece in the midst of the European debt crisis to see how terrible this is.

Under such and such concerns, the first batch of German public bonds issued is only 100 million marks, and the second batch will have to be considered according to the domestic situation, that is, if the situation is not good, there will be no second batch, which is a drop in the bucket when the country's large-scale infrastructure construction consumes huge sums of money.

Gold reserves have once again become a stumbling block to stimulate economic development. In order to squeeze out funds from various projects, Caprivi has racked his brains, but he is still short of funds. Just when the German government was deciding how to allocate the funds, well-wishers appeared.