NOTEBOOK “β” (“BETA”)

“International Statistics of Securities and Stock Issues ” by Dr. Zimmermann, Bank Archiv ,
1912, July 1.

Statistics of “transferable securities”, according to International Statistical Institute Bulletins (Alfred Neymarck).

In francs (000 million francs)

January 1, 1897—446,300 million.

The figures in brackets = an attempt to deduct over lapping and repetitions (about 2/3 of the previous figure) (p. 301) (“securities actually existing in trade or in the possession of individual states”).

See p. 68 of this notebook . [1]

| | Totals for entire five-year periods: | (p. 317) Issues 000 million francs |
| --- | --- | --- |
| Neymarck Vol. XIX, No II p. 206 | ⎧ ⎪ ⎪ ⎪ ⎪ ⎨ ⎪ ⎪ ⎩ | 1871-75 | — | 45.0 |
| 1876-80 | — | 31.1 |
| 1881-85 | — | 24.1 |
| | | | | |
| 1886-90 | — | 40.4 | see pp. 68-69 here [2] |
| 1891-95 | — | 40.4 |
| | |
| 1896-1900 | — | 60.0 |
| 1901-05 | — | 83.7 |
| 1906-10 | — | 114.1 [3] |

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Notes:
[1] See p. 147 of this volume.— Ed .

[2] See pp. 147-49 of this volume.— Ed .

[3] See present edition, Vol. 22, p. 239.— Ed .

[4] Lenin used these data in Imperialism, the Highest Stage of Capitalism (see present edition, Vol. 22, pp. 239-40). In the Notebooks the world total of securities, 815,000 million francs, is given for 1911, and in Imperialism , for 1910. Lenin took the figure from Zimmermann’s “International Statistics of Securities and Stock Issues”, which cites as its source a survey by Alfred Neymarck, who gives the figure as referring to January 1, 1911. p. 95