same main division, but whose credit is below 
its normal point. Let ns suppose these con 
ditions obtain in Austria, so that our purchase 
will consist of an Austrian stock of kindred 
quality to the Italian stock which has just been 
sold. Our capital will then have been enhanced 
by the profit realised on the Italian stock and 
will now stand a further chance of enhance 
ment in the future. Moreover, the balance of 
our investment scheme will not be imperilled, 
for if we transpose the pin from Italy to the 
spot denoting Vienna we still find our pin- 
covered map shows a similarly wide distribution 
of capital over the whole surface of the globe 
as it did originally. 
Again, if the appreciated stock is the one 
denoted say by the pin fixed in Buenos Ayres, 
we then purchase another similar stock in 
some other part of South America, and where- 
ever we place the pin—whether in Para, or 
Valparaiso, or Rio de Janeiro—we still find an 
equally wide distribution of our capital 
evidenced by the symbolic pins on our 
coloured map. 
If it should happen that no country in the 
same division affords a suitable investment, 
then we must look at the pin-covered map, 
and choose a favourable stock in some other 
division which is as far removed from any