Hans Henger, French Capital Investments in Securities, Stuttgart, 1913 (Munich Economic Studies, No. 125).
Contains very little. Repeats Neymarck’s figures on total value of securities.
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815,000 million; without duplications, 600,000 million francs, of which 106,000-110,000 million in France. |
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The total amount of the 4 per cent coupon tax (the tax on interest and dividends) increased
from 70.4 million francs in 1891
to 102.5 ” ” ” 1910 (p. 1).
The total amount of securities (in French ownership):
| (according to Edmond Théry) | 1891—77,100 million francs |
| 1907—98,600 ” ” | |
| (according to the author) | 1891-95—79,000 ” ” |
| 1906-10—110,400 ” ” |
| Annual investment in joint-stock companies | |
| France... 566.2 million francs | |
| Germany... 1,080.5 ” ” | |
French economic progress
| 1890 | 1909 | ||
| Wheat harvest | 117 mill. hectolitres | 126 | |
| Oat ” | 94 ” ” | 117 | |
| Iron output | 3.5 mill. tons. | 16.6 | (1911) |
| Merchant shipping | 0.9 ” ” | 1.4 | (1909) |
| Steam engines in industry |
55,967 (1891) | 81,335 | |
| In h.p. units | 916,000 | 2,759,350 | |
| Wealth of France (according to inheritance tax) |
243,000 mill. francs (1892) | 287,000 | (1908) |
| Coal consumption | 28.96 mill. tons (1885) | 56.4 | (1911) |
| (in Germany) | 67.1 | 205.7 | (1908)) |
French special (foreign) trade
| 1891-93 | 1908-10 | ||
| per head of population | 7,692 mill. francs | 12,020 + 56.2% | |
| 200.4 francs | 304.7 + 52% | ||
| Figures for Germany: | 7,117 mill. marks | 15,197 + 113.5% | |
| per head of population | 141.5 marks | 238.6 + 68.6% | |
| {238.6 marks=294.5 francs. Less than in France!} | |||
N.B. In the mining industry of France, the workers are, “in great part”, foreigners: Poles, Italians and Spaniards.[1]
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“If the French produce less, if industry and trade in France do not develop as fast as in Germany, that, of course, is not an indication that France is in danger of becoming a rentier state” (78) ... the development (of industry and trade) is going ahead, though more slowly than in Germany. |
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N.B. He quotes: Annuaire statistique de la France, 1910 (economic and social indices).
[1] See present edition, Vol. 22, p. 283.—Ed.
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