The French Ministry of Finance has just published some very
interesting and significant statistics as to the amount of French wealth invested abroad, the total of which reaches £1,200,000,000. Only 240,000,000 is invested in Great Britain, as against £280,000,000 in Russia, £120,000,000 in Spain, some £115,000,000 in Austria-Hungary, and £60,000,000 in Italy. In Egypt there is £57,440,000 invested, and over £60,000,000 in British South Africa. Most of this money is invested in foreign Government loans, but the South African investments are mines and industrial companies connected therewith. The extent of the foreign commitments of French capital, though large, is not, however, by any means so striking as its distri- bution. In that distribution, it is hardly too much to say, may be found a finger-post to French foreign policy, for no French Government can withstand the combined pressure of the small investor and the great financial houses when they believe their money to be in danger. For example, the invest- ment of £120,000,000 of French capital in Spain makes it abso- lutely certain that France will never be a passive spectator where the vital interests of Spain are concerned, and that revolution involving financial ruin will not be allowed in Spain. Again, the £280,000,000 lent to Russia binds France to Russia more securely than any formal clauses in a Treaty of Alliance. While, also, French investors have 260,000,000 of capital in Egypt, they will never seriously wish to destroy the magnificent security afforded by the British occupation.
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