the demand from those who cannot spend their huge
incomes for safe, paying investment opportunities.

The immense productivity of the present-day system of industry has added
greatly to the amount of surplus seeking investment. Each invention,
each labor saving device, each substitution of mechanical power that
multiplies the productive capacity of industry at the same time
increases the surplus at the disposal of the plutocracy.

The surplus must be disposed of. There is no other alternative. If hats,
flour and gasoline are piled up in the warehouses or stored in tanks, no
more of these commodities will be made until this surplus has been used.
The whole economic system proceeds on the principle that for each
commodity produced, a purchaser must be found before another unit of the
commodity is ordered. Demand for commodities stimulates and regulates
the machinery of production.

Those in control of the modern economic system have no choice but to
produce surplus, and once having produced it, they have no choice except
to dispose of it. An inexorable fate drives them onward--augmenting
their burdens as it multiplies their labors.

Investment opportunities, of necessity, are eagerly sought by the
plutocracy, since the law of their system is "Invest or perish"!

Invest? Where? Where there is some demand for surplus capital--that is
in "undeveloped countries."

The necessity for disposing of surplus has imposed upon the business men
of the world a classification of all countries as "developed" or
"undeveloped." "Developed" countries are those in which the capitalist
processes have gone far enough to produce a surplus that is sufficient
to provide for the upkeep and for the normal expansion of industry. In
"developed" countries mines are opened, factories are built, railroads
are financed, as rapidly as needed, out of the domestic industrial
surplus. "Undeveloped" countries are those which cannot produce
sufficient capital for their own needs, and which must, therefore,
depend for industrial expansion upon investments of capital from the
countries that do produce a surplus.

"Developed" countries are those in which the modern industrial system
has been thoroughly established.

The contrast between developed and undeveloped countries is made clear
by an examination of the investments of any investing nation, such as
Great Britain. Great Britain in 1913 was surrounded by rich, prosperous
neighbors--France, Germany, H