The midland journal. (Rising Sun, Md.) 1885-1947, 1889-08-02
Foreign Ownership of American In
6I1afrlpS

English and Scotch capitalists, knowing
good thing when they see it, have con-
cluded, it appears, TO place themselves in a
position to enjoy on large scale the benefits
of our tariff. For some years Mr.. Carnegie,
a Scotchman, has been utilizing our tariff
on iron and steel. His profits amounting
10 millions, have excited the cupidity of
other Britons. His Cluny Castle, bought
with money the tariff enabled him to wrirs
out of the American consumer and his mag
nifcent requests to various objects in Scot
land haye impressed the British magma
ton, and convinced even the slow-going
English mind that the American tariff is a
very good thing for a capitalist who knows
how TO turn il to account. The Scotch
manufacturers of sewing thread long ago
learned the utility OF the tariff. They have
had their factories in this country for many
years, greatly to their profit and our loss.
But their operations were 70: on so mag
nifcent scale as Mr.. Carnegie's and pro-
duced few imi,ators. Now, however, the
movement TO utilize American industries
for foreign profit appears to haye set in on
large scale. The Pittsburg steel industry
promises to be the next capture. A synd-
cate of English capitalists is negotiating for
the purchase of all the steel works in and
about Pittsburg. Mr.. Nimick, of the firm
Singer, Nimick & Co., tells Of offers to buy
controlling interest, and other large own
ers admit that negotiations are pending.
Should the tIasfer of ownership take place
recently happened TO various large Ameri.
can mills and breweries. These industries
and others have passed into the hands Of
English and Scotch capitalists, who will use
our American tariff for all it is worth. 1t
is not meant TO convey the idea that the
masses of our people will be worse off with
English and Scotch proprietors of protected
industries. On the contrary, it is likely
that they will be better, as the foreign cap.
italist is content with a smalle. profit, and
will probably give the country cheaper and
| DCttSl otSSl anu USSI tlltlu IL SSto w Hal
we do wish TO call attention to is the altered
position of these industries after they have
passed into foreign hands. The plea for
the protection of the foreign industry, owned
and operated for the foreigners profit, can
hardly be so strong as for the native indus
try, the profits of which are spent among
us Why move Heaven and earth, it will
be asked, TO exclude British goods from our
ports when the beneficiary of the proceeding
is the Briton in our midst. The buyer of
manufactured articles now pays an enhanc-
ed price for them in order that the protect
ed manufacturer may be free from foreign
competition. The American manufacturer
when he sells his product adds, whenever
he can, the tariff tax to its price, else he
would not want tax. A tariff that does
not enhance prices has no intarest for any,
body. 1t will have no interest at all for the
American people when they see clearly that
the manufacturers, not the workingmen,
profit by IT., and that the manufacturers are
for the most part only foreigners asking
protection at the peoples expense against
other foreigners. The English capitalist
will benefit, of course by his investment in
American industries in any case. If our
tariff is kept high he will make money
here, and his mills and factories in England
will continue, on the free trade basis, to
hold the open markets of the word. On
the other hand. if we should reduce our
tariff and capture the worlds markets he
will be here among us to share in our pros
perily. 1t is for the masses of our people,
the buyers, while producers are looking out
for themselves exclusively, to consider what
policy will leave most cash in their own
pockets.- Sun.