52 
outside of Great Britain, each group of which 
is subject to a different trade and market in 
fluence. The result shown is identical with 
the results obtained in the former charts given 
in this book. Although we are here dealing 
with groups of stocks representing hundreds 
of millions of capital value, the British groups 
move slavishly together, whilst every one of 
the non-British groups displays an individual 
movement of its own. So that the wholesale 
movements of a large bulk of securities and 
the individual movements of a single stock 
are identical in their results. In fact, the 
figures from the Bankers’ Magazine show 
in the upper chart how unsafe from a capital 
point of view is an investment which is sub 
ject to the trade or market influence of a 
single country ; whilst in the lower chart 
an investment in which capital is geographi 
cally divided, displays a true balance between 
the rises and falls in value. 
This exhausts the chief noteworthy points 
in the International Investment Chart, and we 
will now proceed to discuss the features of 
this chart in comparison with those of the 
all-British Chart which is to be found facing 
page 27. To begin with it should be noticed 
that the stocks comprising the International 
List are on average inferior in quality to those