rosperity of
this country after the war. For these reasons we are of opinion
that in all amendments of the law falling within the scope of our
reference, the expediency of the attraction of foreign capital should
be steadily borne in mind." The Committee thus seems to have thought
it necessary to administer comfort to anybody who might fear that the
unrestricted flow of capital from abroad might involve this country in
the terrible danger of being assisted in its industrial recovery by
capital from Germany.

If there were, in fact, any possibility of this assistance being
given, it would seem to be extremely short-sighted not to allow
British industry to make use of it. In the matter of "peaceful
penetration," we have ourselves in the past done perhaps as much as
all the rest of the countries of the world put together, with the
result that we have greatly stimulated the development of economic
prosperity all over the world; in fact, it may be argued that the
great progress made in the last century in man's power over the forces
of Nature has been to a great extent due to the freedom with which we
invested capital abroad and opened a free market to the products
of all other countries. At a time when, owing to exceptional
circumstances, we ourselves happen to be in need of capital, it would
appear to be an extremely short-sighted policy to refuse to admit it,
wherever it came from. We have excellent reason to known that, when
capital is once invested in a foreign country, it is largely in the
power of the inhabitants and Government of that country to control its
working. Any foreigner, even an enemy, who set up a factory in England
after the war would be doing just the very thing which we most of
all want to be done, namely, setting the wheels of industry going,
relieving the labour market from a possible glut after demobilisation,
and helping that difficult stage of transition from war work to peace
work.

The Committee, however, considers that "at the root of the whole
matter lies a question which is not one of Company Law amendment at
all, but one of high political and economic policy." It does not fall
within its province "to inquire whether the traditional policy of
this country to admit and welcome all who seek our shores and submit
themselves loyally to our laws ought, in the case of some and what
aliens, to be revised"; or whether discrimination ought to be made
between an alien of one nationality and an alien