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invested in a different Continent to those in 
which stocks are already held; for this reason 
we will select the Continent of Asia. Africa 
will afford the investment centre for the fifth 
£100 and Australasia for the sixth £100. 
As there is very often great difficulty in 
securing the required class of stock in the 
latter division, an alternative division may be 
necessary, and either Canada, India, or South 
. America be selected as a substitute. 
We have now covered the five continents of 
the world, and have supplemented these by a 
General International stock so that the safety 
of our capital should be assured. If sound 
stocks in each continent are selected for the 
purpose of investment, it is not absolutely 
necessary to carry the division of the earth’s 
surface any farther, whatever the amount of 
capital to be invested may be, so long as 
such capital be evenly distributed. Indeed, 
so long as there are four or five well-con 
trasted countries in which the investor selects 
his stocks, the necessary poise and counter 
poise incidental to a sound geographical dis 
tribution of capital will always be secured. 
In illustration of this we append a chart 
covering five geographical divisions only. 
Hut where the investment objects necessitate 
a wide distribution of capital in accordance