Wilhelm Marr publishes a pamphlet entitled "Der Sieg des Judenthums ueber das Germanenthum" (The Victory of Jewry over Germandom). Writing in the wake of the 1873 crash of the Berlin Stock Exchange which caused widespread financial hardship, Marr argues that the emancipation of Jews has led to their dominance in finance and industry to the detriment of Christians and Christian civlization.
Marr believes that Jews and Germans are locked into a life-or-death struggle that is based on their incompatible racial characteristics. Marr will be credited with coining the term antisemitism as a replacement for the more traditional German word Judenhass (Jew hatred).
In practice, "Jew hatred" is all anti-Semitism really means, but this new term looks and sounds more academic and thus becomes the generally preferred word for ardent and professional Jew-haters.
