1. The international flow of finance: an overview; Introduction; Net flows of capital; 2. The sources and uses of foreign capital; The sources and the industrial disposition of foreign capital: the quantitative evidence; The sources and the industrial disposition of foreign capital: the qualitative evidence; a) 1803–40; b) 1840–1914: railroads; c) 1840–1914: government securities; d) 1840–1914: land-related investments; e) 1840–1914: commerce and manufacturing; 3. The economic, social, and political response to foreign investment in the United States; The American response; The response of foreign investors; 4. Two securities markets: London and New York; The London and New York Stock Exchanges in the late 19th century; The American domestic capital market and the demand for foreign capital; 5. American investments abroad; Introduction; The early years: 1797–1896; Towards maturity: 1897–1914; 6. Summary and conclusions.