Taking by chance Helferich's book, which valued the annual capitalization at ten milliards, the difference between an annual production of forty-three milliards and a consumption of thirty-three milliards, inexpert persons have said that Germany can pay without difficulty ten milliards, plus a premium on her exports, plus a sufficient quantity of goods and products.

The Standard Oil Company has a very conservative capitalization, and yet it is the most complete monopoly of any industrial corporation in this country.

There are further possibilities (perhaps hardly probabilities) of controlling stock issues and stock holdings so that dividends do not have to be paid on grossly inflated capitalization, and fixing the maximum of dividends payable to non-active stockholders.

It was that of Punch-the-breeze Thompson, a gentleman well known to make his living by the ingenious capitalization of an utter lack of moral virtue.

The cause of crises immediately back of the maladjusted capitalization thus is seen to be a psychological factor; it is the rhythmic miscalculation of incomes and of capital value, occurring to some degree throughout industry, but particularly in certain lines.

The essential characteristic of a crisis is the forcible and sudden movement of readjustment in the mistaken capitalization of productive agents.

It was obvious that with so prodigious a development a continued growth of revenue must take place, and hand-in-hand with it a progressive capitalization.