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A Letter from Major Robert Carmichael-Smyth to His Friend, the Author of 'The Clockmaker'

Note 12 — INTRODUCTION.

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(12) For “a very large amount of capital belonging to individuals have, of late years, sought profitable investment in other lands. It has been computed, that the United States have, during the last five years, absorbed in this manner more than £25,000,000 of English capital.” And how much more, it may be asked, has gone to the continent of Europe and elsewhere?

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