The Balkans: A History of Bulgaria—Serbia—Greece—Rumania—TurkeyHogarth, D. G. (David George)
History
The Balkans: A History of Bulgaria—Serbia—Greece—Rumania—Turkey
Hogarth, D. G. (David George)
Balkan Peninsula -- History; Eastern question (Balkan)
If, however, the surface of the land offered little prospect of wealth
for the moment, there were considerable treasures to be found beneath
it. A metalliferous bolt runs down the whole east coast of the Greek
mainland, cropping up again in many of the Aegean islands, and some of
the ores, of which there is a great variety, are rare and valuable. The
lack of transit facilities is partly remedied by the fact that workable
veins often lie near enough to the sea for the produce to be carried
straight from mine to ship, by an endless-chain system of overhead
trolleys; so that, once capital is secured for installing the plant and
opening the mine, profitable operations can be carried on irrespective
of the general economic condition of the country. Trikoupis saw how
much potential wealth was locked up in these mineral seams. The problem
was how to attract the capital necessary to tap it. The nucleus round
which have accumulated those immense masses of mobilised capital that
are the life-blood of modern European industry and commerce, was
originally derived from the surplus profits of agriculture. But a
country that finds itself reduced, like Greece in the nineteenth
century, to a state of agricultural bankruptcy, has obviously failed to
save any surplus in the process, so that it is unable to provide from
its own pocket the minimum outlay it so urgently needs in order to open
for itself some new activity. If it is to obtain a fresh start on other
lines, it must secure the co-operation of the foreign investor, and the
capitalist with a ready market for his money will only put it into
enterprises where he has some guarantee of its safety. There was little
doubt that the minerals of Greece would well repay extraction; the
uncertain element was the Greek nation itself. The burning question of
national unity might break out at any moment into a blaze of war, and,
in the probable case of disaster, involve the whole country and all
interests connected with it in economic as well as political ruin.
Western Europe would not commit itself to Greek mining enterprise,
unless it felt confident that the statesman responsible for the
government of Greece would and could restrain his country from its
instinctive impulse towards political adventure.
Public-domain text, read in full here on John Shaqi.
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