The midland journal. (Rising Sun, Md.) 1885-1947, 1889-09-20
Friday, Sept. 20, 1850.
Eager English InYestSrs.

clealI Y unOeTStaUu as ,ytt, oul thS iaSt ~
mains that English capitalists are investing
an immense amount of money In American
manufacturing properties. The day when
such statement could be termed mere
newspaper story has gone by; the cash is
here. Some 100000 English capital has
been brought to Boston, for example, in
payment of gaslishting collateral trust
bonds. One large shoe factory has been
bought at LINN, and dozen others could be
had on the same liberal terms received for
that one. Breweries haye been bought
right and left. One or more large iron
working plants in Pennsylvania have been
bought and bonded 10 syndicate in the
same way, and now an actual attempt is be-
ing made to buy and bond the great Thomas
Iron Co.'S plant. We estimate that nearly
$1,000, 900 of English money has recently
been invested in American manufacturing
properties. A genuine, though unsuccessful
attempt was made to bond a lot of Fall
River cotton mills for English capitalists,
and as the latest development Of this notable
movement, two Boston gentlemen haye just
sailed for England TO negotiate for the sale
and bonding Of lot Of sole leather tanner
les, know to the local trade as the Shaw and
and Poor tanneri.s.
"Now Eere is novel aud remarkable
movement right under full Roadway.
What is to be done about il?' may are
asking in somewhat apprehensive tone.
Our reply is that our Euglish cousins should
be permitted to buy away to their hearts
content, particularly if they will pay the
same liberal prices which have thus far
been realized. 1t releases large amount
of domestic capital, with a handsome bonus
added thereto. IF the plants which have
been sold were sufficiently profitable 10
tempt the Investment Of more domestic cap
ital in the same line, there is no hindrance
10 such a movement. Furthermore, as the
taxing and w-makiug power is entirely il
our own hands, no troubles need be appre-
hended from these foreign Investments.
"Were the movement to continue long at
its eresen, apparently reckless pace, there
might be some reason to anticipate good
deal of growing from across the water after
ont or two hard business seasons, but the
rage will doubtless soon reach Its height,
and our hard-headed cousins will thereafter
investigate their bargains a little more
closely than they are now doing. We can
not allow them to buy immense tracts of
real estate here and manage them en- the
absentee landlord style, but their capital is
as welcome here in manufacturing proper
ties as in railroads"
How the Boston Advertiser reaches this
contradictory opinion we are at something of
loss 10 understand. fit is a good thing
for foreigners to purchase and control our
largest manufacturing establishments it can
not be otherwise, their purchase and control
of lands. In either case the large amount Of
capital is used as grinding machine in the
hands Of foreign dukes, lords and princes
class that has placed itself above the
laberers in Europe and supports itself there
on bayonets, till they have become to be-
lieve themselves superior race Of mortals,
as much above those who toll as man is
above the brute. The same power which
grinds the tenant farmer will as surely and
as relentlessly grind the tenant operative Of
mill and factory. The danger ofthis move
ment is that capital is accumula,ing in the
hands Of class, a manufacturing class. The
danger is just the same as though il were
concentrated in the hands of landlord
class. Every cent in either condition is
ground out Of labor by the corporation that
can be wrung out and rhe surplus is borne
away to foreign lands, where as ruuch of it
is ued as is Necessary to keep up standing
armies, TO keep the populate in scryitude
and ignorance and nobility class in lux
ury and power.
-four monopoly and corporation class is
associated with them, the two will naturally
make common cause. That corporate in
1uence with wealth in accumulating mil
lions under its fest, and that foot stool rest
ing on the back Of labor, will constantly
exert its power in controlling our govern
meut, shaping and fashioning its laws 10
subserve its interest, and fortify its power
and control over capital and labor.
The foreign manufacturer cannot send
his goods here and have free swing of our
markets, and he resorts to the next best
thing for his purpose. He sends his capital
here, purchases a controlling influence in
our manufactures, and with our capitalists
forms trusts, reaps his share of the profits
which come cut Of our consumers, assists in
choking off all competition by crushing out
new establishments controls the supply, sets
the price for producing and the price for
selling, and under the tariff which was in
tended to foster home industry and build up
competition till the price of manufactured
goods was leveled down to the worlds
market values, reaps the advantages intended
for our own people. Under this system the
profits Of our home market are being large
ly shared by the foreigner, while he con-
trolls the ont put, and holds all the worlds
market outside securely against our manu-
featuring industries which are curbed and
checked by these foreign poIentails, whose
CAPITAL is absorbing the property of our