Omissions

Summary

The following items came to our attention during the compilation of the Bibliography. They are arranged in chronological order.

In December 1910 Sir George Paish read a paper to The Royal Statistical Society on Great Britain's Capital Investments in Individual Colonial and Foreign Countries'. The paper was printed in the Society's Journal in January 1911 (pp. 167–87); Keynes's contribution to the discussion was as follows.

From The Journal of the Royal Statistical Society, January 1911

Mr J. M. KEYNES suggested that the paper should more properly have been entitled ‘Estimated Amount of Capital Subscribed in London rather than ‘Estimated Foreign Investments.’ If they were to take it as an estimate of foreign investments, it was subject to two opposing errors, both large and both of an unknown amount; but because the errors were in opposite directions it did not follow that the estimate could be regarded as a good estimate of foreign investments proper. On the one hand, the author made no pretence of including the amount invested otherwise than by subscription in London; on the other, he could not allow fully for the capital originally subscribed in London but which had found its way abroad subsequently; and several speakers had shown that both these errors were likely to be large. They were not justified in assuming that because these two errors were in opposite directions, they therefore cancelled out. […]