Otto von Camphausen (21 October 1812 – 18 May 1896) was a

Prussia Prussia, , Old Prussian: ''Prūsa'' or ''Prūsija'' was a German state on the southeast coast of the Baltic Sea. It formed the German Empire under Prussian rule when it united the German states in 1871. It was ''de facto'' dissolved by an e ...

statesman A statesman or stateswoman typically is a politician who has had a long and respected political career at the national or international level. Statesman or Statesmen may also refer to: Newspapers United States * ''The Statesman'' (Oregon), a ...

Biography

Camphausen was born at Hünshoven, part of

Geilenkirchen Geilenkirchen (, Ripuarian: ) is a town in the district Heinsberg, in North Rhine-Westphalia, Germany. It is situated near the border with the Netherlands, on the river Wurm, approx. 15 km (9.3 mi) north-east of Heerlen and 20&nb ...

on the right bank of the River Wurm, in the

Rhine Province The Rhine Province (german: Rheinprovinz), also known as Rhenish Prussia () or synonymous with the Rhineland (), was the westernmost province of the Kingdom of Prussia and the Free State of Prussia, within the German Reich, from 1822 to 1946. ...

. Having studied

jurisprudence Jurisprudence, or legal theory, is the theoretical study of the propriety of law. Scholars of jurisprudence seek to explain the nature of law in its most general form and they also seek to achieve a deeper understanding of legal reasoning ...

and political economy at the universities of

Bonn The federal city of Bonn ( lat, Bonna) is a city on the banks of the Rhine in the German state of North Rhine-Westphalia, with a population of over 300,000. About south-southeast of Cologne, Bonn is in the southernmost part of the Rhine-Ru ...

Heidelberg Heidelberg (; Palatine German: ') is a city in the German state of Baden-Württemberg, situated on the river Neckar in south-west Germany. As of the 2016 census, its population was 159,914, of which roughly a quarter consisted of students ...

Munich Munich ( ; german: München ; bar, Minga ) is the capital and most populous city of the German state of Bavaria. With a population of 1,558,395 inhabitants as of 31 July 2020, it is the third-largest city in Germany, after Berlin and ...

and

Berlin Berlin ( , ) is the capital and largest city of Germany by both area and population. Its 3.7 million inhabitants make it the European Union's most populous city, according to population within city limits. One of Germany's sixteen constitu ...

, he entered the legal career at

Cologne Cologne ( ; german: Köln ; ksh, Kölle ) is the largest city of the German western state of North Rhine-Westphalia (NRW) and the fourth-most populous city of Germany with 1.1 million inhabitants in the city proper and 3.6 millio ...

, and immediately devoted his attention to financial and commercial questions. Nominated assessor in 1837, he acted for five years in this capacity at

Magdeburg Magdeburg (; nds, label=Low Saxon, Meideborg ) is the capital and second-largest city of the German state Saxony-Anhalt. The city is situated at the Elbe river. Otto I, the first Holy Roman Emperor and founder of the Archdiocese of Magdebu ...

and

Coblenz Koblenz (; Moselle Franconian: ''Kowelenz''), spelled Coblenz before 1926, is a German city on the banks of the Rhine and the Moselle, a multi-nation tributary. Koblenz was established as a Roman military post by Drusus around 8 B.C. Its nam ...

, became in 1845 counsellor in the ministry of finance, and was in 1849 elected a member of the second chamber of the Prussian diet, joining the Moderate Liberal party. In 1869 he was appointed minister of finance. On taking office, he was confronted with a deficit in the revenue, which he successfully cleared off by effecting a conversion of a greater part of the state loans. The Franco-Prussian War

indemnity In contract law, an indemnity is a contractual obligation of one Party (law), party (the ''indemnitor'') to Financial compensation, compensate the loss incurred by another party (the ''indemnitee'') due to the relevant acts of the indemnitor or ...

enabled him to redeem a considerable portion of the state debt and to remit certain taxes. He was, however, a too warm adherent of

free trade Free trade is a trade policy that does not restrict imports or exports. It can also be understood as the free market idea applied to international trade. In government, free trade is predominantly advocated by political parties that hold econ ...

principles to enjoy the confidence either of the Agrarian Party or of Prince

Otto von Bismarck Otto, Prince of Bismarck, Count of Bismarck-Schönhausen, Duke of Lauenburg (, ; 1 April 1815 – 30 July 1898), born Otto Eduard Leopold von Bismarck, was a conservative German statesman and diplomat. From his origins in the upper class of ...

, and his antagonism to the tobacco

monopoly A monopoly (from Greek language, Greek el, μόνος, mónos, single, alone, label=none and el, πωλεῖν, pōleîn, to sell, label=none), as described by Irving Fisher, is a market with the "absence of competition", creating a situati ...

and the general economic policy of the latter brought about his retirement. Camphausen's great services to Prussia were recognized by his sovereign in the bestowal of the

Order of the Black Eagle The Order of the Black Eagle (german: Hoher Orden vom Schwarzen Adler) was the highest order of chivalry in the Kingdom of Prussia. The order was founded on 17 January 1701 by Elector Friedrich III of Brandenburg (who became Friedrich I, King i ...

in 1895, a dignity carrying with it a patent of nobility. He died at Berlin.

References

External links

* {{DEFAULTSORT:Camphausen, Otto von 1812 births 1896 deaths German untitled nobility Members of the Prussian House of Lords People from the Rhine Province Prussian politicians University of Bonn alumni Heidelberg University alumni Ludwig Maximilian University of Munich alumni Humboldt University of Berlin alumni Finance ministers of Prussia