GIPE-PUNE-OIIOI2 - DSpace@GIPE

WORLD~CRISIS : INDUSTRIAL REVOLUTIONS 299
:industrial unemployment and agricultural depression, as
well as of the fall in prices, which are so prominent
features of the present crisis. Ultimately _ the economic
rejuvenation of man~ind is hanging on an appro~
priate political therapeutic of international dimensions.
The world~economy is normally adjusted to the exports
and imports of capital. Certain economic regions
are used to export a part of their finance and others to
import it.
About the year 1914 the great capital exporting
-countries were three in number :-Great Britain, France
and Germany. In pre~war years the United States was
·a borrower of foreign capital. But in 1928 she was a
lending country while Germany, the pre-war lender,
became a borrowing region. The chief lending countries
at this later date were again three; but the U.S.A. and
Germany changed their roles in international investment.
The following table sets forth the approximate total
foreign investments (credit and debit) of these four
-countries at 1914 and 1928 (in dollars) : 34
Country 1914 1928
1. Great Britain Credit 18,000,000,000 Credit 20,000,000,000
2. France 8,700,000,000 5,200,000,000
3. Germany 5,600,000,000 Debit 4,500,000,000
4. United States Debit 3,000,000,000 Credit 10,000,000,000
This table excludes reparations and war~debts. But
it is evident that in 1928 the available export capital was
~ubstantially larger than the amount in 1914. Weare
to . understand that foreign investments were playing _ a