The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-02-28
AN ENGLISH SYNDICATE


ries to American Soil
birmingham Correspondence Philadelphia Press.
The wealthest and most influential syndicate
the world has ever seen is now in course of form
alton here for operations in the Western States
Concisey stated, the object which the iinanciers
who are acting in concert. have in view rs t."
transplant into the United States of America the
leading industries of this country
The causes which led to this important action
-1nomentous in it's ultimate issue,-may be found
without protIacted or profound research Thcy
lie in the VIGOROUSLY Improbable or inadequatey
profitable state Of staple trades of this country
Short time, slow returns, and, above all, low
prices. are disastrousy prevalent Everywhere
is the same complaint but it brings insufficient
profit to the capitalist and unsatisfactory
wages to the toiler. All classes of American
readers whether engaged in mercantile pursuits
or not, will remember the panic OF 1913, when
the prices of all manufactured goods in the
States fell on an average upwards Of 40 per
cent, when manufac tured products of all kinds
We're an absolute drug in the market, and IN
salable even at prices that did not recoup the
cost of labor The recollection of the state of
trade at that time will doubtless be sufficiently
vivid to enable Americans to realize the position
of affairs in England to-day. Certainly there is
absent that widespread commercial disaster
and general financial collapse that marked
that melancholy era in the history of
a great republic The manufacturers of
Great Britain varied, and her
markets numerous, and their demands so
diversified that general collapse is almost i'm
possible, except under a combination OF clrcum-
stances which is not likely to occur, or which,
at all events, has not yet developed. But i'll re
gard to the general depreciation of values, more
particularly in the cotton, wooden, iron. steel
and kindred industries. there can be no manner
of question. A conclusive proof of this state
ment is found in the fact that only recently
American iron and steel contracts have been
given to English houses at prices much below
those, not only of American firms, but prevail
ing here.
The result of this stagnation and of the accu-
mutation of capital that finds no profitable en-
ployment has been that English manufacturers
have long since sought opportunities for invest
ing their money under more favorable con-
ditions than exist in this country. For some
years past many iron works laid down
with English plant and started on En-
glish capital have been opened in Spain.
Belgium, Germany and France. This exodus Of
capital has not been confined to the metal
trades. 1t has gradually extended to other
manufactures, as one by one they have lost
their elasticity and become depressed. The con
tnent of Europe is dotted over with English fac
tories, the trades comprising the cotton, wooden,
linen, worsted and paper industries, in addition
to various metal works. These are planted
wherever the conditions are favorable as to
facility of communication and cheapness of labor
and material
1t must be well known to your readers that
for some time past representatives of English
manufactures have been prospecting i'll the
States Their presence has been reported at
times in the coal and iron regions. where they
have been seeking suitable localities for estab-
fishing works. The districts which have
especially received their attention have been
the metalliferous regions west Of st. Louis
and the districts on the shores of Lake superior.
Attention is particularly directed to tho facilities
afforded by the Southwest for cotton manUfac-
ture, and it appears to be the general impression
! that greater Lancashire can be successfully
| founded in such close proximity to the cotton
! fields of the South. will eliminate to large
extent the question of freight, and deprive Man
! chester of her timehOnored supremacy.
| These capitalists consist of groups of manufac
| turers embracing all the leading trades, and the
| predominating idea is that by the sheer force OF
| the magnitude of the combination they VIII be
! able to control, to a great extent the markets OF
| the South and West. This may seem project
| almost vast forcomprehension. not to mention
realization, but they propose 10 bring to its ac
comnlishment resources that Will exceed anVthin
previously known in the history of commercial
enterprise. For instance, among other features OF
| this stupenduOus scheme, this syndicate propose
to transplant, bodily whole colonies of work -peo
( pie. to founj and build towns for their habita
ton. to work their own mines, to acquire a con
trolling power fin such existing lines of railroads
as is necessary for their purpose, to construct
new lines. to own their own shipping in GIsct, tC
secure for themselves every profit, from the frs
processes of production to the sale of product tt
the consumer on its arrival at the port of debark
alton. For it is not only the home markets that
| they aim in supplying They reckon to com
mence work under such as will-allowing
due time for development-enable them to drive
the old country out of the markets of the world
in many Of her leading lines.
! The group of fnanciers, which allied them
selves cOntingently to take the initiatory steps
in the enterprise, are understood to represent
some of the leading houses in the Midlands and
North of England. The project is probably
suggested by the visit to the West, last SUMMER
| of a well-known banker, who is largely con
nected with important industries in the North OF
| England Mr.. Andrew Carnegies visit tc
England may possibly have had something to dc
with suggesting this project, though, as mat
ter of fact, the idea of transplanting British in
| dustries in lands free from the circumstan
ces which render them little remunerative here
has long been entertained and to some extent
! carried out.
Transit of Venus and New Zealand.