African Entrepreneurship Chronicles
Chapter 463

Friedrich

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Ask who was most infuriated by the Hohenzollern Conglomerate placing its bets on the Austro-Hungarian Empire, and the answer was the Jewish Conglomerate—especially the Rothschild family.

There was a saying in the Austro-Hungarian Empire: "Austria has one Emperor Ferdinand and one King Solomon." In 1848, Solomon referred to the Rothschild family, which had already gained complete control over the Austrian Empire's economy and finance.

The Austrian government relied heavily on Jewish capital, but all of that changed with the rise of the Hohenzollern Conglomerate. The two sides waged a fierce struggle for the financial sector in the German territories. With the impact of the economic crisis, the Hohenzollern Conglomerate now held the upper hand.

Economic crises were uncontrollable, so even the battle-hardened Rothschild family could not avoid losses. Under ordinary circumstances, with their deep coffers, they could buy at the bottom after suffering losses and ultimately turn a profit. But this time, they had encountered the cash-rich Hohenzollern Conglomerate.

Drawing on the abundant funds it had accumulated before the economic crisis, the Hohenzollern Conglomerate went on a buying spree during the crisis, especially in emerging industries. Ernst knew that the economic crisis of 1873 would drag on for far too long, while the prospects of traditional industries remained unclear.

At the same time, construction of the East African railway greatly helped the Austrian government maintain stability. That was far better than Jewish capital's ugly scramble for food amid the economic crisis.

With the favor shown to the Hohenzollern Conglomerate by the House of Habsburg and a whole host of other nobles, the Hohenzollern Conglomerate successfully squeezed out the Jewish Conglomerate and became the largest capital group in the Austro-Hungarian Empire.

Jewish capital still held an advantageous position in Britain, America, France, and other countries, while the Hohenzollern Conglomerate held an

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