Lenin: 1916/ni-zeta: HARMS, WORLD ECONOMY

V. I. Lenin

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 colonies (£ thousands)
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 }}	820	42	280 }}2	53	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.

Works Index \| Volume 39	\|	Collected Works \| L.I.A. Index
< backward		forward >

V. I. Lenin

NOTEBOOK “ζ”

(“ZETA”)

HARMS, WORLD ECONOMY

Notes