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WORLD·CRISIS : INDUSTRIAL REVOLUTIONS 301
We find that Argentina which obtained 131 million
.dollars as loan from abroad in 1928 had to content herself
with only 38 millions in 1929. India's capital import
declined from 67 millions to 36 millions and so on. The
list is not exhaustive', So far as eight countries are con·
,cerned, there is a total decline from 1,700 to 932 millions.
The percentage of decline in capital import In one
year may be seen as follows:
1. Norway: 76% 5. Hungary: 58%
2, Argentina: 71% 6. India: 46%
3. Finland: 70% 7. Total of eight countries 45.7%
4. Poland: 59% 8. Germany 44%
9. Australia: 14%
The functioning of the economic acbvltles of these
·eight countries· in Europe, Asia, South America and
Oceania was handicapped in 1929 by the dearth of capital
measured by some $787,000,000. Later, the situation
became still worse, but actual figures are hard to obtain.
Whatever factor economic, political or psychologi.
cal, is likely to remove this dearth of capital or encourage
the tendencies towards the export of capital bids fair to
be a powerful aid to the removal or mitigation of the
world depression.