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of the capital of trusts, it was possible to 
obtain absolute Capital Stability by investing 
money in the Government stocks of a variety 
of nationalities distributed over a world-wide 
area. It is almost unnecessary to remark that 
these Government stocks are, of course, Trustee 
stocks in each of their respective countries of 
issue. So that what we have already shown 
to be true of internationally selected stocks 
generally is, as might be expected, equally true 
of internationally selected Trustee stocks ; that 
is to say, when a group of international Trustee 
stocks is so chosen that the bulk of each 
stock is held in the country of original issue, 
then each of the stocks which form the group 
will be controlled by a separate trade influence, 
and each will fluctuate as an independent item. 
In brief, such a group of investments wmuld 
display that very stability of realisable value 
which is so conspicuously lacking in a group 
of all-British Trustee stocks. 
In The Investment of Trust Funds, we publish 
a chart showing the price-movements of fifteen 
Government loans which may fairly be said to 
embrace every investment quarter of the globe. 
In this group we have not failed to include 
United States 4 per Cent., Spanish 4 per Cent., 
Russian 4 per Cent., Japanese 5 per Cent., and 
Chinese 5 per Cent. Gold Loan, although alJ