British capital invested in Indian, colonial and foreign loans and companies, and the income derived therefrom in 1907–08 (Paish, p. 168):
|
[[BOX:
My summary in three main groups: A, B, C ]] |
Capital | Income | ||||
|---|---|---|---|---|---|---|
|
|
|
Per | ||||
| (£000) | (idem) | cent | ||||
| A) | Loans (government and muni- cipal) . . . . . . . . . . |
757,460 | 29,938 | 3.9 | ||
| B) | Railways . . . . . . . . . . | 1,198,991 | 52,839 | 4.4 | ||
| C) | { | Banks, etc . . . . . . . | 366,022 | 21,870 | ||
| Mines . . . . . . . . . . | 243,386 | 26,145 | ||||
| Oil, etc . . . . . . . . . . | 127,879 | 8,999 | ||||
| C) | 737,287 | 57,014 | 7.7 | |||
|
|
|
|
|
|||
| Total | 2,693,738 | 139,791 | 5.2 | |||
Author divides table not into three (A, B, C), but into very many groups.
| A) | % | ==3.2% | — | 4.7% |
| B) | ==3.8 | — | 4.7% | |
| C) | ==3.3 | — | 30.5% |
| • Canada and Newfoundland | (my) Σ | |||||||||
| • Australian Commonwealth | ||||||||||
| • New Zealand | ||||||||||
| • Total for Australasia
[[BOLD-COLUMN-BOX]] |
||||||||||
| • Africa[:] South | ||||||||||
| • [Africa:] West | ||||||||||
| India and Ceylon • | ||||||||||
| Straits Settlements and Malay States • | ||||||||||
| Miscellaneous British possessions • | ||||||||||
| A) | 92,948 | 198,365 | 64,721 | 263,086 | 115,080 | 8,541 | 182,517 | 7,943 | 6,969 | 677,084 |
| B) | 223,740 | 2,951 | 761 | 3,712 | 9,354 | — | 136,519 | — | 1,717 | 375,042 |
| C) | 503,026 | |||||||||
| Σ | (*)
373,541 |
301,521 | 78,529 | 380,050 | 351,368 | 29,498 | 365,399 | 22,037 | 33,259 | (*)
1,555,152 |
|
(*) Note: Paish’s total == 1,554,152, because for Canada he gives 372,541 in the summary table (p. 186), but 373,541 in the main table (p. 180). |
||||||||||
| United States |
Cuba | Philippines | Japan | China | Miscellaneous foreign countries |
|
|---|---|---|---|---|---|---|
| A) | 7,896 | 2,282 | — | 42,784 | 22,477 | 818 |
| B) | 586,227 | 17,387 | 7,902 | 8,910 | — | 4,521 |
| C) | 93,955 | 3,031 | 300 | |||
| Σ | 688,078 | 22,700 | 8,202 | 53,705 | 26,809 | 61,907 |
| Argentina | Mexico | Brazil | Chile | Uru- guay |
Peru | Misc. American countries |
|
|---|---|---|---|---|---|---|---|
| A) | 38,339 | 8,276 | 40,221 | 17,071 | 9,860 | 81 | 3,838 |
| B) | 186,126 | 54,306 | 29,961 | 12,646 | 21,194 | 6,476 | 11,681 |
| C) | |||||||
| Σ | 269,808 | 87,335 | 94,440 | 46,375 | 35,255 | 31,987 | 22,517 |
| Russia | Turkey | Egypt | Spain | Italy | Portugal | France | Germany | Other Euro- pean coun- tries |
Σ | but without Egypt |
|
|---|---|---|---|---|---|---|---|---|---|---|---|
| A) | 19,109 | 9,650 | 14,044 | 1,885 | 4,164 | 1,336 | — | 1,351 | 22,870 | 74,409 | 60,365 |
| B) | 2,013 | 6,146 | 1,916 | 5,473 | 3,284 | 4,432 | — | — | 495 | 23,759 | 21,843 |
| C) | 27,793 | 7,071 | 90,199 | 62,408 | |||||||
| Σ | 38,388 | 18,320 | 43,753 | 18,808 | 11,513 | 8,134 | 7,071 | 6,061 | 36,319 | 188,367 | 144,614 |
Journal of the Royal Statistical Society, Vol. LXXIV, January 1911.
Paish’s article (and its discussion in the Statistical Society (article pp. 167–87; discussion, pp. 187–200)) shows that the author was very cautious and careful.
He excluded conversions—taking not nominal, but issue prices of securities—and to avoid duplication took income from securities, etc. The value of his data is therefore infinitely greater than that of the baseless “data” on France and Germany.
His main work relates to 1907–08.
| £000,000 | |||
|---|---|---|---|
| 1907–08 | 1908–09 and 1910 |
1910 |
|
| colonies: | 1,312 | +228 | 1,554 |
| foreign countries | 1,381 | +288 | 1,637 |
| Total | 2,693 | +516 | 3,191 |
|| N.B.
N.B. Alfred Neymarck, Modern Finances,
Vols. VI and VII. French Savings and
Securities 1872–1910. 2 vols. 8°ree;. Paris, 1911.
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