Britain's foreign investment cultivated foreign economies for the use of sterling. In 1850, Britain's net overseas assets grew from 7 percent of the stock of net national wealth to 14 percent in 1870, and to around 32 percent in 1913 (Edelstein, 1994).
Britain's foreign investments abroad fostered the development of other economies to utilize sterling. Between 1850 and 1870, Britain's overseas assets rose from 7% of total national wealth to 14%, and then continued to grow to approximately 32% by 1913 (Edelstein, 1994).