Note 13 — Chapter VIII

In his defence of German Colonial policy, Dr. Solf makes much of the fact that of the total sum of 500,000,000 marks invested in German colonies, no less than 89,000,000 marks belongs to foreigners. But this means that Germany which has little capital to export has invested over 82 per cent. and all the other countries of the world less than 18 per cent. Moreover the character of the investment, not the absolute amount, is significant. Competitive investment, as in a brewery or cotton factory, does not bring the same profit as does a concession for a railroad, tramway or bank.