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All colonial possessions that were white were under Sovereign - i.e. under authority of British government. Such nations as Union of South Africa, Australia, New Zealand & Canada were governed under British law. These only represented thirteen percent of people who made up inhabitants of British Empire.
All other parts of British Empire - nations like India, Egypt, Bermuda, Malta, Cyprus & colonies in Central Africa, Singapore, Hong Kong & Gibraltar (those areas inhabited by browns, yellows & blacks) were all Crown Colonies. These were not under British rule. British parliament had no authority over them. They were privately owned & ruled by a private club in London, England known as Crown.
Loans to foreign countries are organized & arranged by City of London w/ no thought whatsoever of nation's welfare but soley in order to increase indebtedness upon which City thrives & grows rich... This national & mainly international dictatorship of money which plays off one country against another & which, through ownership of a large portion of press, converts advertisement of its own private opinion into a semblance of general public opinion, (E.C. Knuth, "Empire of 'City'").
All of above points were stressed by Roland G. Usher "Pan Germanism,": "London & Paris bankers [international bankers] control available resources of world at any one moment, & can therefore practically permit or prevent undertaking of any enterprise requiring use of more than a hundred million dollars actual value..."