V. I.   Lenin

NOTEBOOK “ζ”

(“ZETA”)


 

HARMS, WORLD ECONOMY

Bernhard Harms, Problems of World Economy, Jena, 1912. “National Economy and World Economy.”

British capital invested abroad (1911) according to G. Paish ((George Paish in the Journal of the Royal Statistical Society, Vol. LXXIV, 1910–11, p. 167)) (“Great Britain’s Capital Investments in the Colonies, etc.”).

(B. Harms, p. 228):

 
I. British coloniesthousands)
North America Canada and Newfoundland 372,541
Australia Commonwealth of Australia 301,521
New Zealand 78,529
Africa South 351,368
West 29,498
Asia India and Ceylon 365,399
Straits Settlements 22,037
Hong Kong 3,104
British North Borneo 5,131
Other British possessions 25,024
Σ = British colonies 1,554,152
II. Foreign countries:
United States 688,078

[BOX:] [[ Cuba

22,700 ]]
Philippines 8,202

[BOX:] [[ Argentina
269,808
Mexico 87,334
Brazil 94,330
Chile 46,375
Uruguay 35,255
Peru 31,986
Other American countries 22,517 ]]
Russia 38,388
Turkey 18,320
Egypt 43,753
Spain 18,808
Italy 11,513
Portugal 8,134
France 7,071
Germany 6,061
Other European countries 36,319
Japan 53,705
China 26,809
Other foreign countries 61,907
Σ = foreign countries 1,637,684[1]
ΣΣ = Total 3,191,836
(In all, he says, £ 3 1/2 thousand million)
Same, by continents (£ million)
Per cent
America 1,700= 53
Asia 500 16
Africa 455 14
Australia 387 12
Europe 150 5
3,192 100%

WI,

Dr. Sigmund Schilder, Development Trends in the World Economy, Berlin, 1912—p. 150—refers to G. Paish, whose figures, he says, are minimised, for Paish takes issue prices (for Latin America 556 = £ 556 million, whereas London Stock Exchange quotations on May 31, 1909 Σ = £767 million, including Argentina—£281 million, Brazil—£140 million).—

The London Economist, August 26, 1911, estimates British capital in 10 South American republics (Argentina, Brazil, Uruguay, Chile, Peru, Bolivia, Colombia, Venezuela, Ecuador and Paraguay) at £ 622 million, including Argentina—316, Brazil—162, Uruguay—42, Chile—41 (ibidem, p. 371).

Foreign capital in Canada (1910) = 12,687 million francs, including British—9,765, U.S.—2,190, French—372. In Mexico (1886–1907) =3,343 million francs, including U.S.—1,771, British—1,334 (p. 373).

Belgian capital abroad (Berlin Export, November 24, 1910) in million francs: Holland—70; France—137; Brazil—143; Italy—166; Egypt—219; Germany—244; Argentina—290; the Congo—322; Spain—337; Russia—441; other countries—338. Total—2,750 million francs (p. 365).

French capital abroad
(ibidem, p. 235)
Thousand
mill. francs
Russia 10.0
Great Britain 0.5
Belgium and Holland 0.5
Germany 0.5
Turkey, Serbia and Bulgaria 0.5
Rumania and Greece 4.0
Austria-Hungary 2.0
Italy 1.5
Switzerland 0.5
Spain and Portugal 3.5
Canada and United States 1.0
Egypt and Suez 4.0
Argentina, Brazil and Mexico 3.0
China and Japan 1.0
Tunisia and French colonies 3.0
__ __
Σ—35.5[2]

Total now estimated at 40,000–42,000 million.

 
German capital abroad (1904) exclusive of securities
(non-European areas) (million marks)
Turkey (without Egypt) 350
Africa (including Egypt) 1,350
Persian-Arabian Peninsula and India 75
South-East Asia 250
East Asia 450
Australia and Polynesia 400
Caribbean countries 1,200
West coast of South America 550
East ” ” ” ” 1,600
United States and Canada 3,000
__ __
Σ = 9,225
German capital abroad (securities) (1897–1906)
also
million marks
Argentina 92.1
Belgium 2.4
Bosnia 85.0
Brazil 77.6
Bulgaria 114.3
Chile 75.8
Denmark 595.4
China 356.6
Finland 46.1
Great Britain 7.6
Italy 141.9
Japan 1,290.4
Canada 152.9
Cuba 147.0
Luxemburg 32.0
Mexico 1,039.0
Netherlands 81.9
Norway 60.3
Austria 4,021.6
Portugal 700.7
Rumania 948.9
Russia 3,453.9
Serbia 152.0
Sweden 355.3
Switzerland 437.6
Spain 11.2
Turkey 978.1
Hungary 1,506.3
United States of America 4,945.8
__ __
(My total) Σ = 21,909.7

Author estimates total German capital abroad at 35,000 million marks (p. 243).

{{ The (1904) figure=9,225 plus, he reckons, the same }}
amount in Europe Σ = 18,000
Further, securities totalling about 17,000
Σ = 35,000[3]
America 6,530.2
Asia (Turkey) 2,625.1
Africa
Australia
Europe 12,754.4
Σ = 21,909.7

N.B. || On the question of German capital investments abroad, B. Harms quotes (besides Sartorius): Riesser, German Big Banks and Their Concentration, 3rd edition, Jena, 1910.—Paul Dehn, New Developments in World Economy, Berlin, 1904.—Paul Arndt, “The Nature and Purpose of Capital Investment Abroad”, Zeitschrift f\"ur Sozialwissenschaft, 1912, (No. 1–3).—
N.B. ||| Robert Liefmann, Holding and Financing Companies, Jena, 1909.—

German capital abroad:
Exclusive of securities
(1904)
|| Securities
(1897–1906)
Africa 1,350 || —(?)
(α) Asia (including Turkey) 1,125 2,625.1
Australia and Polynesia 400 —(?)
(β) Central and South America 3,350 1,431.5
(γ) U.S.A. and Canada 3,000 5,098.7
Σ = 9,225
(α+β+γ)= (7,475) (9,155.3)

Foreign capital of the three richest European countries, approximately[4] :

(thousand million marks)
Great Britain France Germany Σ
America 37 4 10 | 51
Asia 11 } 29 1 } 8 4 } 7 16 } 44
Africa 10 7 2 19
Australia 8 1 9
Europe 4 23 18 45
Total 70 35 35 140
Germany __ __ __
|
Approx.
Great Britain
thousand mill. marks
Total approx. Great
Britain
__ __ __
France
__ __ __
(thousand
mill.

marks)
approx. approx.
37 America 6.5 10 37 4
11 Asia 2.6 4 11 1
4 Europe 12.8 18 4 23
10 Africa 2 10 7
8 Australia 1 8
70 21.9 35 70 35

Western Europe (Belgium,
Switzerland, Scandinavian
countries)
2 1 (??) 2
South Europe (Spain, Italy,
Portugal)
1 1 5
Balkans 2 0.5 (??) 4
Russia 5 1 10
Austria 8 0.5 (??) 2
All Europe 18 4 23
Balkans + Russia + Austria 15 2 (??) 16
World railways (Harms, p. 138)
(ibidem):
1868 106,886 km.
1870 211,000
1875 294,000
1899 617,285
1909 1,006,748
 
(km.)
1899 1909
Europe 223,869 329,691
America 313,417 513,824
Asia 33,724 99,436
Africa 9,386 33,481
Australia 18,889 30,316
(my) Σ= 599,285 1,006,748

World telegraph lines (km.) (Harms, p. 141):
1898 1908
Great Britain 208,747 253,898
North America 50,545 92,818
France 26,157 43,115
Germany 6,186 30,167
Denmark 13,888 17,111
Netherlands 1,786 5,721
Japan 2,797 8,084
Spain 3,237 3,565
Italy 1,968 1,989
Miscellaneous countries 3,233 7,724

Foreign trade (special trade) of Germany
(p. 198)
(million marks)
1889 1910 Increase
Import Export Import Export Import Export
1. Europe 3,239.9 2,509.7 5,196.8 5,623.9 +60% +124%
2. Africa 39.6 22.1 418.0 181.3
3. Asia 128.2 84.3 828.3 332.3
4. America 635.4 613.6 2,190.7 1,255.0
5. Australasia 35.1 23.5 293.0 71.8
2–5. Σ = 838.3 743.5 3,730.0 1,840.4 +345% +147%
ΣΣ = 7,343.5 (1889)
 
(p. 203) Special trade (including noble metals) of the most important countries
1870 1882 1901 1910
million
marks
(marks)
per head
million
marks
(marks)
per head
million
marks
(marks)
per head
million
marks
(marks)
per head
Great Britain
(+Ireland)
9,180
312
12,658
355
14,977.0

360
171.9
20,507.1
453
France 4,540 124 7,326 195 6,705.8 10,212.5 260
Germany 4,240 106 6,409 141 9,852.6 172.2 16,408.8 257
Russia 2,000 27 2,140 30 2,926.8 26.1 5,047.5 40
Austria-Hungary 1,660 47 3,015 75 3,007.3 65.7 4,450.4 88
Italy 1,480 61 2,000 70 2,474.4 76.1 4,170.4 123
Spain 2}} 820 42 840 }}2 53 1,386.8 74 1,566.2 80
Portugal 2 }} 280 }}2 390.9 71.0 434.1 77
Holland 1,420 388 2,520 602 6,391.0 1,229 9,446.7 1,657
Belgium 1,280 252 3,380 421 3,239.4 476 6,137.9 841
Sweden-Norway 840 115 1,080 131 1,407.7 190.2 1,891.5 242
United States
of America
3,420 98 6,150 120 9,526.5 122.5 13,578.7 150
 

Notes

[1] So given by Harms.—Ed.

[2] See present edition. Vol. 22, pp. 242–43.—Ed.

[3] See present edition, Vol. 22, p. 243.—Ed.

[4] Ibid., p. 243.—Ed.

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