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510
V. INDUSTRIES OF SWEDEN. A GENERAL SURVEY.
real property in land has remained stationary, the latter circumstance
an after-effect of the prolonged crisis in agriculture, the former, on the
other hand, an incontestable proof of the development of industry during
this period and of the constant augmentation of capital. Worthy of
notice are, too, the increase in the claims on foreign countries and the
decrease of foreign liabilities, which are to be explained: firstly, by the
circumstance that the Post-office savings-banks, instituted in 1884, have
bought up very considerable amounts of Swedish bonds from abroad,
and secondly, by the State having latterly constructed railways with
the aid of money raised by taxes instead of, as in earlier times, by
foreign loans — both these circumstances being yet further proofs of
the great accumulation of capital during the period.
However great the increase of capital in Sweden has been during
the last few years and still is, yet it does not suffice to meet the
requirement, which increases at a still more rapid rate. The new spirit
of enterprise that has taken hold of the people of the country is in
need of a larger supply of the sinews of industry than it possesses or
is able to create at a moment’s notice, in order] ^hat the riches that
still lie fettered in the heart of the rocks or run to waste in the
waterfalls of the country may come to profitable use.
Thus, it will be necessary for Sweden for some time still to increase
its working capital from other countries, more favourably situated in
that regard, if her natural resources are to be properly looked after.
But if that comes about in such a way that what is at present being
used but to a small extent or not at all has been rendered accessible
and productive, then the appellative poor, often used in reference to the
country will have to be exchanged for rich, an alteration, indeed, that
is in a measure already justified.
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