Speech #930292745

In fact. foreign capital played a crucial role in the Industrial development of this country. It Is reported that at the beginning of the nineteenth century 53 percent of the national debt was held by foreigners. as was 63 percent of the stock of the national bank and onequarter of the total capitalized worth of American corporations. In contrast. today foreign direct investment accounts for less than 1 percent of total corporate assets. Many foreign companies have been operating in the United States for decades and. in essence. have become naturalized citizens. How many Americans are aware that Nestles chocolate is Swiss. Shell is British and Dutch.