Montesquieu. "American Bonds and the French Portfolio". Paris, 1912. (Advice to capitalists: beware)

L. Estève: "The New Psychology of Imperialism: Ernest Seillière". Paris, 1913.
(((
A psychological understanding of imperialism à la Nietzsche, and only about psychology.
)))

* Thus in Théry. Ed.

C. T. Rever. "The Commercial Possibilities of Latin America", article in *The North American Review*. 1915 (vol. 201), p. 78:

"*The South American Journal*, published in London, reports that British capital investments in Latin America by the end of 1913 reached a total of $5,008,673,000."
||

||======||

||
Compare with Paish 1909 *
======
5 billion dollars × 5 = 25 billion francs || NB
LESCURE. "SAVINGS IN FRANCE"
Jean Lescure. "Savings in France". Paris, 1914.
NB
The author states in the preface that his work was already printed in *Schriften des Vereins für Sozialpolitik*, vol. 137, III – in the survey on savings in various countries.
Note p. 110, Table VI. "Statistics of France's Wealth" (according to M. Neymarck)
Billions of francs
French securities:Foreign securities:

1850– – –9– – – –– – –-
1860– – –31– – – –– – –-
1869– – –33– – – –– – –10
1880– – –56– – – –– – –15
1890– – –74– – – –– – –20
1902– – –from 87 to 90– – – –– – –from 25 to 27
1909– – –» 105 – 116– – – –– – –from 35 to 40
Deposited securities (millions of francs)

(p. 51)
"Crédit

Lyonnais""Société

Générale""Comptoir

d'Escompte"
1863–9.8–57.4–-
1869–54.6–88.3–-
1875–139.7–205.7–-
1880–244.,–253.7–-
1890–300.8–251.9–122.9
1900–546.3–347.6–365.4
1910–839.0–562.2–633.3
1912–859.6–446.5–674.3

* On Paish see this volume, p. 364. Ed.

NOTEBOOK "γ" ("GAMMA")
Number of accounts at the Crédit Lyonnais (p. 52) *:
1863–25681890–144000
1869–144901900–263768
1875–285351912–633539
1880–63674 p. 60: "Reserve funds of 9 French metallurgical companies"

average for 1904-1908 (annual average) = 23.8 million francs

(I will confine myself to this from the perusal).
ISHIDA. "THE INTERNATIONAL POSITION OF JAPAN AS A GREAT POWER"
Ishida. "The International Position of Japan as a Great Power". New York, 1905. (Dissertation.)
——— A student work, apparently. A retelling of Japan's history versus other countries from 660 BC to 1905.
——— "Since this time (since the Chinese war of 1894/5) the Far East has become the main object of claims, principally of France, Great Britain, Germany, Japan, Russia and the United States, in their efforts to satisfy their needs for commercial and political 'imperialist expansion'" (p. 256).
"The economic activity of the great powers has taken the form of 'imperialism', which signifies the claim of the great powers to control – for economic or political purposes – 'over such a part of the earth's surface as corresponds to their energy and capabilities'" (p. 269).
Quotes:
|

|

|

|

|
Reinsch. "World Politics". New York, 1902.
Hobson. "Imperialism".
Colquhoun. "The Mastery of the Pacific". New York, 1902.
Debidour. "Diplomatic History of Europe", Paris, 1891 (2 volumes).

* See V. I. Lenin, Works, 4th ed., vol. 22, p. 202. Ed.

BIBLIOGRAPHICAL REFERENCES FROM ENGLISH BOOKS AND FROM "CONRAD'S YEARBOOKS"
From English books:
C. K. Hobson. "The Export of Capital". 8° (290 pp.). 7s. 6d. (Constable.) May 1914.
J. A. Hobson. "The Traffic in Treason: A Study of Political Parties". 8° (1s.) (Unwin). June 1914.
» "Work and Wealth: A Human Valuation". (8°) (386 pp.). 8s. 6d. (Macmillan). June 1914.
» "Towards International Government". 8° (216 pp.) 2s. 6d. (Allen & Unwin). July 1915.
J. H. Jones. "The Economics of War and Conquest" (on Norman Angell). June 1915 (King). 178 pp. (2s. 6d.).
H. G. Wells. "The War and Socialism". 1d. (pub. "The Horn"). February 1915.
Hartley Withers. "The War and Lombard Street". 8° (180 pp.), 3s. 6d. (Smith). January 1915.
Cl. W. Barron. "The Audacious War" (4s. 6d.). May 1915.
A. L. Bowley. "The Effect of the War on the External Trade of the United Kingdom 1906-1914". 8° (64 pp.), 2s. March 1915.
A. W. Humphrey. "International Socialism and the War". 8° (176 pp.), 3s. 6d. February 1915.
F. W. Hirst. "The Political Economy of War". July 1915. 8° (342 pp.), 5s.
Vigilant. "Revolution and War". 1s. (September 1915).
Connolly. "The Re-Conquest of Ireland". 6d. April 1915.
*Jahrbücher für Nationalökonomie etc.*
Conrad's (NB 3rd series. Vol. 49 = 1915, 1)

(3rd series. Vol. 21 = 1901.

Vol. 40 = 1910.)
Gleer. "On the Present Situation of the American Iron and Steel Industry", 3rd series. Vol. 35, p. 587,

NOTEBOOK "γ" ("GAMMA")
Jeremiah Jenks.
"The Trusts in the United States". 3rd series. Vol. I, p. 1.
Goldstein.
"The Present State of the Cartel Movement: Russia" (3rd series. Vol. 40, p. 162).
Sänger.
"The Economic Prospects of British Imperialism". Berlin, 1906 (review in 3rd series. Vol. 36, p. 397).
PATOUILHET. "AMERICAN IMPERIALISM"
Joseph Patouillet. "American Imperialism". Dijon, 1904. (Dissertation.) (388 pp.)
|

|

|——————|

|

|
Dissertation. A quite student-like little work. No scientific value, except for abundant quotations and a summary of some facts. Legal chatter predominates, the economic side is weak.
—————— The author quotes (at the beginning) Hobson ("Imperialism") and takes from him the most well-known things.
The author speaks, as a matter of fact, about English imperialism (pp. 33 ff.) and German imperialism (pp. 36 ff.) (sections I and II in chapter II).

2 words about Japanese and Russian imperialism (p. 39 in fine).
p. 43: "Imperialism in practice means to seek the keys of the world – but not military keys, as in the times of the Roman Empire, but the great economic and commercial keys. It means striving not for the rounding off of territory, but for the seizure and occupation of the great nodal points through which world trade passes; seeking not large colonies, but colonies advantageously situated, to envelop the globe in a continuous dense network of stations, coal depots and cables" (quote from de Lapradelle. "Imperialism and Americanism in the United States". *Revue du droit publique*. 1900, vol. XIII, pp. 65-6. Quoted in Patouillet, p. 43).
?
Driault ("Political Problems", pp. 221-2): "The defeat of Spain was a revelation... It seemed established that the world equilibrium was a matter to be decided by 5-6 principal European powers: into this problem an unknown quantity intruded" (p. 49).

||

||
"Thus the war over Cuba was an economic war in the sense that it aimed at the seizure of the island's sugar market; likewise the cause of the annexation of the Hawaiian Islands and the Philippines was the desire to take possession of the coffee and sugar produced by these tropical countries" (p. 51). (Idem, pp. 62-3)...
"So, the conquest of markets, the chase for tropical products – that is the fundamental cause of this policy of colonial expansion which is called imperialism. All these colonies will also serve as excellent strategic points, the importance of which we will indicate: ...in order to secure the Asian markets... they needed points of support"... (p. 64).
% of exports from the United States
Total exports:

millions

dollarsEuropeNorth

AmericaSouth

AmericaAsiaOceaniaAfrica
187079.3513.034.092.070.820.64
188086.108.312.771.390.820.61
857.8189079.7410.984.522.301.920.54
1394.5190074.6013.452.794.663.111.79
190272.9614.762.754.632.482.42
|

|——————|

|
very many, a mass of indications of the coming struggle over the Pacific Ocean
—————— Hawaiian Islands – 1/2 way from Panama to Hong Kong. Philippines – a step towards Asia and China (p. 118). Idem pp. 119-120-122.
The war with Spain over Cuba was justified by the interests of freedom, the liberation of Cuba etc. (pp. 158 ff.).
sic!
The Constitution requires equality of all taxes etc. in all the United States. "They interpreted" that this does not apply to the colonies, because they are not part of the United States, but belong to them (p. 175).
"Gradually" (they) will extend the rights of the colonies (p. 190) (they do not grant full rights)...
Canada. Its economic subjugation prepares the way for its political "inclusion" (p. 198).
To the United States of America "Germany" (sic) wants to "oppose the United States of Europe" (p. 205)...

NOTEBOOK "γ" ("GAMMA")
..."Beginning in 1897, Wilhelm II repeatedly expressed the idea of a policy of unification for the struggle against overseas competition – a policy based on a European customs agreement, a kind of continental blockade directed against the United States"... (205) ..."In France, the creation of a European customs union was preached by Paul Leroy-Beaulieu" (206)...

United

States

of Europe

(and Wilhelm II)
..."An agreement between the European states will perhaps be one of the happy results of American imperialism" (206).

"happy result"
In America, events caused a struggle of "anti-imperialists" with imperialists (p. 268, Book II, Chapter I: "Imperialists and Anti-Imperialists")... Imperialism supposedly contradicts freedom etc., leads to the enslavement of colonies etc. (all democratic arguments: a series of quotations). One American anti-imperialist quoted the words of Lincoln:

"When the white man governs himself, that is self-government; when he governs himself and also governs others, that is no longer self-government, that is despotism" * (272).
- Phelps. "The Intervention of the United States in Cuba" (New York, 1898) and others declared the Cuban war "criminal" etc.
Chapter III, p. 293, bears the title: "The Contemporary Policy of the United States: The Union of Imperialism and the Monroe Doctrine": they united, interpreted!!!
South Americans rebel (pp. 311 ff.) against that interpretation of the Monroe Doctrine that America is for North Americans. They fear the United States and want independence. The United States has "designs" on South America and struggles with the growing influence of Germany there...
(Cf. from the literature references Novikov, see separately **,)

* See V. I. Lenin, Works, 4th ed., vol. 22, p. 274. Ed.
** See this volume, p. 189. Ed.

Annexing the Philippines, the United States deceived the leader Aguinaldo, having promised the country freedom (p. 373): "the annexation was qualified as a 'deception of the chauvinists'" *.

Atkinson. "The Criminal Aggression, by Whom Was It Committed?" Boston, 1899.

NB
*The North American Review*. 1899, September. Filipino. "The Accusations of Aguinaldo against the United States".
NB
In South America a tendency towards rapprochement with Spain is developing, a congress in Madrid in 1900 (Spanish-American) was attended by delegates from 15 South American states (p. 326) (*).
Growth of ties with Spain, its influence, "Latin" sympathies etc. (**)

sic!
p. 379: "The epoch of national wars seems henceforth to have passed"...

(wars over markets etc.)

NB
(*) *Revue des deux mondes*. 1901 (15. XI).

(**) Slogan: "Spanish-American Union".
BIBLIOGRAPHICAL REFERENCES FROM PATOUILLET ON AMERICAN IMPERIALISM
(References from Patouillet on American imperialism etc.)
Carpenter. "The American Advance (Territorial Expansion)". New York, 1902.
E. Driault. "Political and Social Problems at the End of the 19th Century". Paris, 1900.
W. E. Griffis. "America in the East". New York, 1899. D. St. Jordan. "Imperial Democracy". New York, 1899.
De Molinari. "Problems of the 20th Century". Paris, 1901.

* See V. I. Lenin, Works, 4th ed., vol. 22, p. 274. Ed.

NOTEBOOK "γ" ("GAMMA")
Roosevelt. "American Ideals". New York, 1901. – "The Strenuous Life". London, 1903.
Paul Sée. "The American Danger". Paris, 1903.
Seillière. "The Philosophy of Imperialism". Paris, 1903.
Stead. "The Americanization of the World". Paris, 1903.
*Annales des sciences politiques*: 1902 (vol. XVII). E. Boutmy. "The United States and Imperialism" (pp. 1 ff.).
*Le Correspondent*. 1890 (25. I). Cl. Janet. "Economic Facts and Social Movement in America" (pp. 348 ff.).
*L'Economiste français*. 1899, 1. VII. Leroy-Beaulieu. "American Expansion etc.".
*Le monde economique*. 1896 (4 and 18. IV). Machat. "The Commercial Rivalry of the United States and Europe in America".
*La Grande Revue*. 1899 (1. X). Waelers. "American Expansion".
*Revue politique et littéraire* (Revue bleue). 1896 (9. V). Mouraud. "Jingo and Jingoism in the United States" (pp. 593-7). 1900 (21.IV). Driault. "Imperialism in the United States" (pp. 502 ff.).
*La Revue de Paris*. 1899 (15. III). De Rousiers. "American Imperialism".
*The North American Review*. 1898, September. Conant. "The Economic Basis of Imperialism".

1897, No. 2. Chapman. "The Menace of Pseudo-Patriotism".

1899, No. 1. Carnegie. "Americanism versus Imperialism".

1902, No. 12. Winston. "The Anti-Imperialist Faith".

1903, No. 1. Bonsal. "Greater Germany in South America".
*The Fortnightly Review*. 1901, August. Brooks. "American Imperialism".
*Deutsche Rundschau*. 1902, November. Schirbrand. "The Imperialist Idea in America".
*Revue socialiste*. 1904, February. Colajanni. "Anglo-Saxon Imperialism".
*Le Mercure de France*, 1904, April. P. Louis. "Essay on Imperialism".
*Revue des deux mondes*. 1903 (15. VII). Leroy-Beaulieu. "The British Empire and the Crisis of Imperialism".
? Novikov, "European Federation". 2nd ed. Paris, 1901.

E. Théry. "Economic History of England, the United States and Germany". Paris, 1902.

V. Bérard. "England and Imperialism". Paris, 1900. Lair. "German Imperialism". Paris, 1902.
MOOS. "FRENCH CREDIT INSTITUTIONS
AND FRENCH AND ENGLISH CAPITAL INVESTMENTS ABROAD"
*Jahrbücher für Nationalökonomie*. 3rd series. Vol. XXXIX (39) 1910.
||

||
little
Ferdinand Moos. "French Credit Institutions and French and English Capital Investments Abroad" (pp. 237-256). On England only half a page, results of G. Paish. On France there are some literature references and figures:
Polemics: Lysis. "The Financial Oligarchy". Paris, 1907, and Testis. "Credit Institutions". Paris, 1907.
Henri Michel. "Speech in the Chamber 30. XI. 1909". *Le Monde économique*, articles of 1906 and 1907 (P. Beauregard). Jules Domergue (*La Réforme économique*).

M. Manchez (*Le Temps*, 2. I. 1910) estimates French capital abroad at 35 billion francs (p. 240).
Neymarck (*Le Rentier*) estimates French capital abroad at 25-30 billion francs (p. 243).

Total sum of all funds on the Paris Bourse = 130 billion francs (p. 243)
of which{64

66{French

Foreign}|
|

|

|

|

|———
Portugal received from Brazil 1696-1754 – 2,400 million francs (p. 238).
Dutch capital in England in 1747 was 1,600 million guilders (ibidem).
——— Money flows where the % is higher.
According to Lysis: Deposits (of 4 banks) – (Crédit Lyonnais + Comptoir National + Société Générale + Crédit Industriel et Commercial) (p. 252):

NOTEBOOK "γ" ("GAMMA")
1885 -912millionfrancs
1890 -1302»»
1900 -171»»
1905 -2897»»(according to Lysis)
"To become a member of the board, it is enough to own 50-200-300 shares... Thus approximately 50 people, who may own in total no more than 8 million francs, year after year dispose of more than 2½ billion francs of deposits and more than 1½ billion francs of annual new investments, without giving anyone any account of it" (252).

50 peo-

ple
In loans, the borrowing state never receives > 90% (p. 253) – the banks take the rest. The Sino-Russian loan of 1895, 400 million francs at 4%. "Subscription price 450. First price 495. Highest price 520. Difference within one month 45 fr. or 10%... The 'Banque de Paris et des Pays-Bas' alone made 20 million francs on this deal" (253) etc.
I. 1907 – sharp attacks by socialists in the Chamber on deposits in Russian loans...
))NB

KUZNETSOV. "THE STRUGGLE OF CIVILIZATIONS AND LANGUAGES IN CENTRAL ASIA"
P. Kuznetsov. "The Struggle of Civilizations and Languages in
Central Asia". Paris, 1912. (Dissertation – Paris.) (353 pp.)
The book is devoted only to Turkestan – its history, colonization (among other things the Andijan uprising of 1898; the author warns for the future)... ((pp. 295 and others))
Development of culture, cotton, railways etc. etc.
Many literature references... The point of view, it seems, is official.

REFERENCES FROM NEW LITERATURE ACCORDING TO "CONRAD'S YEARBOOKS"
From new literature: Léopold Lacour. "Contemporary France. Political and Social Problems", Paris, 1909.

De Leener. "The Syndicate of Industrialists. Belgium". Paris, 1909 (2 volumes).
J. Sh. Nicholson. "The Project of Empire. (The Economics of Imperialism)". London, 1909 (p. 310).
Henri Andrillon. "The Expansion of Germany". Angoulême, 1909.
"The Development of Germany as a World Power" (supplement to *Annals of the American Academy*, January 1910). !! Nil. Zero. Speech of an ambassador!!!
Marcel Dubois. "France and Its Colonies". Paris, 1910.
Jean Cruppi. "For the Economic Expansion of France". Paris, 1910.
Jean G. Raffard. "The Process of Bank Concentration in England". Paris, 1910.
L. Gautier. "The State as Financier". Paris, 1910.
NB||

||
Édouard Driault. "The Contemporary World. A Political and Economic Essay". Paris, 1909 (372 pp.).
[Review in *Jahrbücher*, vol. 41, p. 269 – speaks in laudatory terms of this "world-historical chrestomathy", especially of the significance of "economic processes for contemporary politics".]
Fr. E. Junge. "American Economic Policy". Berlin, 1910.
Godfernaux. "French Colonial Railways". Paris, 1911 (439 pp.).
Aug. Terrier and Ch. Mourey. "French Expansion". Paris, 1910.
?|

|

|

|
Charles Duhemm. "Financial Imperialism. The General Society for the Promotion of Trade and
Industry in France. The book is prefaced by a letter to the Minister of Finance". Paris, 1910
(95 pp.). ? (Paris, *Revue commerciale et financière*).
J. Bourdeau. "Between Two Slaveries" (...Socialism...
(!!!!) imperialism...). Paris, 1910.
Geoffrey Drage. "Imperial Organisation of Trade". ? London, 1911 (374 pp.).
R. G. Lévy. "Banks of Issue". Paris, 1911 (628 pp.).
Marcel Gras. "On Machinism and Its Consequences"... Paris, 1911. (Dissertation.)

Edmond Théry. "The Economy of Europe". 2nd edition. Paris, 1911 (332 pp.).

His same. "The National Wealth of France". Paris, 1911.

NOTEBOOK "γ" ("GAMMA")
Lucien Hubert. "German Activity". Paris, 1911.
Ed. Pfeiffer. "The Fabian Society and the English Socialist Movement". Paris, 1911. (Dissertation.)
Arthur Boucher (Colonel). "France Victorious in the War of the Near Future". Paris, 1911 (93 pp.).
*Jahrbücher*. Vol. 42 (1911). NB article by Goldschmidt on agrarian laws and the agrarian system of New Zealand.
||

||

||NB
Schneider. *Jahrbuch der deutschen Kolonien*. 4th year of publication. 1911.
Mamroth. "Industrial Constitutionalism". Jena, 1911 (review in vol. 43. 1912).
Schachner. "The Social Question in Australia and New Zealand". Jena, 1911 (detailed account in vol. 43, 1912).
Overzier. "The American-English Shipping Trust". Berlin, 1912 (4 marks).
Goldschmidt. "On Concentration in the German Coal Industry". 1912 (*Volkswirtschaftliche Abhandlungen der badischen Hochschulen*).

Ibidem: Briefs. "The Alcohol Cartel". 1912.
Hilringhaus. "The German Iron and Steel Syndicates in Their Development towards a Unified Syndicate". Leipzig, 1912. (3 marks)
Enrico Leone. "Expansionism and Colonies". Rome, 1911. (235 pp.) 2 lire. *Jahrbücher*, vol. 44 ( = 1912,2):
P. Passage. "New Forms of Industrial Concentration". Paris, 1910 (341 pp.). 8.50 francs.
Bosenick. "The New German Mixed Banking Economy". (Analysis.) Munich, 1912 (366 pp.).
Argentarius. "Letters of a Bank Director". Berlin (Bank-Verlag), 1912 (1 mark) (??).
P. Hausmeister. "Large Enterprise and Monopoly in German Banking". (Popular essay.) Stuttgart, 1912.
Ennebecq Léon. "Western Imperialism. The Origin of English Imperialism". Brussels, 1913 (295 pp., 6 francs) [vol. 45].
René Pinon. "France and Germany. 1870-1913". Paris, 1913.

Émile Becqué. "The Internationalisation of Capitals". Montpellier, 1912 (432 pp.). 6 francs.
B. Ischchanian. "Foreign Elements in the Russian National Economy". Berlin, 1913 (300 pp.). 7 marks. Review in vol. 47: much on capital import.
|||

|||
The author estimates Russia's debt to Western Europe at 6 billion rubles.
Paul Eckhardt. "Essay on the Science of World Economy". Bielefeld, 1913 (140 pp.) (2.30 marks).
François Maury. "French Securities over the Last 10 Years". Paris, 1912. (Statistics for 10 years for capitalists. A mass of data with % etc. % of guarantee etc.)
LOUIS BRUNEAU. "GERMANY IN FRANCE"
Louis Bruneau. "Germany in France". 2nd edition. Paris, 1914 (from articles in *La Grande Revue*).

=========

quotes:
||

||

||

||

||

||

||

||

||
L. Nicot. "Germany in Paris" (1887).

G. Montbard. "The Enemy" (1899). Ends: "Germany must be destroyed, if Gaul wants to live."

M. Schwob. "The German Danger". 1896.

» "Before the Battle". 1904.

Em. Jennissen. "The German Phantom". 1906.

André Barre. "The German Threat". 1908.

Jean d'Épée. "Greater Germany". 1910.

Henri Gaston. "Germany in Extremis". 19..? *
Germany lacks iron (in 40 years it will be exhausted (p. 3)) – imports grow:
8

11million

–tons

–in

–1908

1911(p. 2)
and in France deposits were discovered in Meurthe and Moselle – in French Lorraine — — —
iron production...2.6milliontons in1890
4.4»»1900
14.8»»1911

* The book was published in 1912. Ed.

NOTEBOOK "γ" ("GAMMA")
Nancy0.2billiontons of ore
Briey2.0
Longwy0.3
Kruin0.5
3.0billiontons of ore (p. 5)
deposits discovered in Normandy: 100-700 million tons of ore
Export of iron ore from France to Germany:
1.7milliontons in1909
2.8»»1912(p. 21)
of coal from Germany to France:
1909 -3milliontons
1912 -5.7»»
A Dutch merchant (Porter) buys iron ore lands in Normandy (already 3,496 ha) and extracts ore, ships it to Germany (pp. 24-5). (Details follow.)
Stinnes and Krupp buy up iron ore production (30-31) – partly through Porter.
Examples of "participations" and composition of boards (35)...
...(mostly French + Germans)...
Thyssen, his growth etc.
Examples, board compositions, financial participations etc. etc.
Transplantation of firms to France etc.
No generalisations.
(Read this in *La Grande Revue*.)

BIBLIOGRAPHICAL REFERENCES FROM "YEARBOOKS" (CONRAD)
Bibliographical references from *Jahrbücher* (Conrad)
Paul Pilant. "The German Danger". Paris, 1913.

R. J. Usher. "Pan-Germanism". London (7/6). (1913?)

*The Annals of the American Academy of Political and Social Science*. Vol. 42 (1912): "Industrial Competition and Combination" (trusts (30 reports)).

Vol. 45

|

|

|?||

||

||
Hans Henger. "Investments of French Capitals"... 1913. Stuttgart (*Münchener volkswirtschaftliche Studien*. 125th issue).
Léon Vangée. "Petroleum". (Dissertation.) Paris, 1913 (vol. 47, 1914).
J. Michon. "English Large Steamship Companies". 1913. (Dissertation.)
Schiemann. "Germany and High Politics 1913" (13 vol.). 1914.
(?) NB||

||

||
O. W. Knauth. "The Policy of the United States towards Industrial Monopoly". New York, 1913 (233 pp.). (*Columbia University Studies*.)
?? E. Friedegg. "Millions and Millionaires". Berlin, 1914. (383 pp.)
P. Baudin. "The Money of France". Paris, 1914.
Vol. 46 (1913, I). Article on Marx's theory of rent (Albrecht).
E. Rothschild. "Cartels" etc. 1913.
Volumes 45-47 reviewed.
Vol. 48 (1914, 2): Julius Hirsch. "Branch Establishments" etc. Bonn, 1913. (*Kölner Studien*, issue I.)
Laudatory review (*Conrad's Jahrbücher*, vol. 48).
NB [In this volume – p. 649 – statistics of livestock farming in the 19th century (very complete) for many European countries.]
NB||

||

||
Walter Strauss. "German Inter-District Electric Power Stations and Their Economic Significance". Berlin, 1913 (especially on agriculture and for agriculture).

NB
*Jahrbücher für Nationalökonomie* Conrad's. 1915, I NB (3rd series, vol. 49): "Fluctuations of Immigration into the United States". (Results of statistics 1870-1910.)
LYSIS. "AGAINST THE FINANCIAL OLIGARCHY IN FRANCE" *
Lysis. "Against the Financial Oligarchy in France". 5th ed. Paris, 1908 (260 pp.). Chapters dated:

* See V. I. Lenin, Works, 4th ed., vol. 22, pp. 221-222; vol. 24, p. 367; vol. 23, p. 188. Ed.

NOTEBOOK "γ" ("GAMMA")
1. XI. 1906; 15. XII. 1906; 1. II. 1907; 1. V. 1907; . 15. XI. 1907.
In the preface Jean Finot says that English newspapers confirmed the fact related by Lysis (first in *La Revue*): one person received 12 million francs (p. VII) from the Russian loan of 1906 besides the "hundred million" (ibidem) in commissions!!
There was a session of the Chamber (2 days) (when?) devoted to this.||Date??
"absolute monopoly" (p. 11) (not relative) – of 4 banks, which carry out all issues
"trust

of the large

banks"

(p. 12)

Crédit Lyonnais Société Générale Comptoir d'Escompte + Banque de Paris et des Pays-Bas
Crédit Industriel et Commercial the borrowing country receives 90% of the sum (10% to banks, syndicates of "distributors", "guarantees" etc.) – p. 26.
Sino-Russian loan400millionfrancs.Profitabout8% Russian (1904)800»»»»10%
Moroccan (1904)62.5»»»»18¾%.
"The French are the usurers of Europe" (29)...
"The financial press almost always receives subsidies" (35).
The affair of the "Sugar Refineries in Egypt": the public lost 90-100 million francs (39). The Société Générale issued 64,000 bonds of this company; shares of it; the issue price was up to 150% (!!)... This company paid "fictitious dividends" (39)...
|||

|||!!!
"One of the directors of the Société Générale was a member of the board of the 'Sugar Refineries'" (39).
50 people, representing 8 million francs, dispose of 2 billion francs in 4 banks (40)...
What to do? "Return to competition" (42)...
"The French Republic is a financial monarchy" (48)...
Russian loan of 1906: Mr. X "bank intermediary", received 12 million (49). Nothing can be understood from reports and balance sheets...

"1¾ billion in 3 lines" (57)...
Where do the banks' incomes come from? from issues. This is concealed.
"Example: without prospectuses, without publication in the press, on the quiet, through the silent and secret work of its 'cashiers' and 'distributors', the Crédit Lyonnais placed 874 million francs (nominal value) of bonds of the Russian Nobles' Land Bank. Average issue price: 96.80. Current price: 66. Loss to the public: 269 million!" (pp. 75-76)...
"terrifying export of French capitals" (pp.: 93 and following)
France – "world usurer" (119).
The fall in the rate of Russian loans (against issue) is such that out of 14 billion francs, 3-4 billion have been lost by the public: that is what the public pays the banks!!!
and a mass of wails against the banks not supporting French industry... Germany grows, we stand still (187 and everywhere)... "anti-national policy" etc.
Chapter V is entitled:
"The Complete Domination of the Financial Oligarchy; It Rules Both the Press and the Government"...
means of pressure of banks on the state: lowering of the rente... (!!)
secret fees:

1 million to a minister!
¼ million to an ambassador (p. 212)
the press is bought...
(I only glanced through: newspaper articles, a feuilleton, nothing more)

The author's conclusions:regulation of banks separation of deposit banks from investment banks (d'affaires)
control...
((a vulgar petty bourgeois))
NOTES ON BOOKS BY MACROSTY, BAUMGARTEN AND MESSLENY, AND BERGLUND
Henry W. Macrosty. "The Trusts in British Industry". Berlin, 1910,