Egon von Ernau
Egon is a young man in his early twenties. He is described as being tall, dark-haired and dark-eyed, with outstanding skill at music, boxing, target shooting, and swimming. The only son of a wealthy Baron who is also a banker, Egon has been raised without much love or guidance and begins his life as a self-absorbed, selfish person who acts on impulse without regard for the consequences to others. At the start of the novel he is depressed and suicidal. But once he is in the company of people who do not desire his company or attention simply because of his wealth, and whom he respects, he realizes that his directionless and purposeless life is something he can change.
Gottlieb Pigglewitch
Pigglewitch, a deeply religious young man, has been educated as a tutor. But he has a fatal flaw: he is a compulsive gambler who has squandered his earnings, the modest inheritance left by his dead parents, and money entrusted to him. He willingly sells his identity to "Fritz Fortune" (a name provided by Egon von Ernau) for enough money to take him to America, where his bride-to-be and her family have emigrated. Yet Pigglewitch's compulsive gambling problem is too strong. He gambles away the money that could have rescued him, receives more from "Fritz Fortune", but loses that too. Ultimately he commits suicide, and when his body is found people think it was Egon who died.
Elise "Lieschen" von Osternau
Lieschen is the teenaged daughter of the Baron von Osternau. She has firm notions of propriety and tends to speak candidly. She is a little bit of a tomboy and enjoys walking and riding, but she is deeply concerned about morality and what it takes to be a good person. Egon ends up adopting her image as a guiding moral compass, and begins to fall in love with her. But after "Pigglewitch" leaves, Lieschen is not only the victim of Albrecht's theft but she narrowly escapes a fire Albrecht sets to cover his theft. The fire indirectly causes her father's death, and after her younger brother Fritzchen dies of disease shortly afterwards Lieschen and her mother Emma are in severe financial distress. Yet although Lieschen feels a duty to provide for her mother by marrying, she refuses to marry Albrecht. She harbors a secret attraction to "Pigglewitch" even years after he leaves Osternau.
Bertha von Massenburg
Bertha is a secondary antagonist. She begins the novel betrothed to Egon von Ernau, and his disappearance causes enough gossip for her to have to flee to Osternau to avoid it. Stunningly beautiful, Bertha is superficially charming and talented, but she lacks deep moral character. She sees marriage as a cynical bargain and agreed to marry Egon only to ensure her father's debts are repaid. She flirts with Egon, who is disguised as Pigglewitch, but when it appears Egon's body is found and Egon returns to Berlin, Bertha transfers her affection to Hugo von Wangen, whom she marries. Bertha is intelligent but manipulative.
Herr Storting
Storting, whose first name is not given, is the second administrator at Osternau. He willingly befriends "Pigglewitch" and helps him get clothing appropriate to his station and job description. He is a highly competent leader and manager, and is described as being tall and well-built with a sunburned face. A member of the professional class, he is generally outdoors. After Castle Osternau burns down he refuses to work for Albrecht and attempts to have him arrested, but his word isn't good enough to justify the arrest or trial of an aristocrat. He happens to answer an ad placed by Egon in a newspaper, and helps Egon relieve the financial trouble of Emma and Elise von Osternau.
Hugo von Wangen
Hugo is a man in his late teens or early twenties. The only son of a reasonably wealthy rural baron, he is studying agricultural science by working for the Baron von Osternau. He is intensely attracted to Bertha, whom he marries. He is also devoted to Clara, his younger sister, and he feels protective of Lieschen.
Baron Friedrich von Osternau
The Baron is a middle-aged man with bad lungs. He has a devoted wife and two children, and he fancies himself to be a forward-thinking person. Not only has he stayed up to date in all branches of agricultural science, but he is planning to buy two small farms to provide for his teenaged daughter. He is not overbearing by nature but is more than capable of setting the rules in his own house. Although he values Emma's opinion, he is not afraid to overrule her when she considers it necessary. The Baron's tragic flaw is his refusal to punish his distant cousin Albrecht for his profligacy or dishonesty.
Emma von Osternau
Emma is a middle-aged woman who knits almost constantly. She is married to the Baron von Osternau and lives with him on the rural estate. She delegates most of her household management authority much the way her husband delegates the management of the farm. But she takes a significant interest in the education of her children.
Emma believes herself to be above petty class stereotypes and prides herself on judging people by their character instead of by their appearance or rank. She has high moral standards and refuses to accept charity or financial help even after she loses her husband, her son, her home, and any source of regular income.
Albrecht von Osternau
Despite having been released from the military for conduct unbecoming an officer, Albrecht von Osternau (formerly the Baron's closest male relative and heir presumptive) has several moral defects including a severe gambling problem. It is his gambling debts that lead to the destruction of his career and to his subsequent criminal acts.
Arrogant, haughty, and class-conscious, the self-entitled Albrecht approves of every aspect of Egon's self-absorbed behavior the moment he hears about it. He finds von Ernau's behavior right and appropriate based on what he thinks the ideal of people of rank should be. He is dismissive to people he perceives as being beneath him. His obnoxious behavior irritates Egon, who treats him instinctively as a rival.
