Waterbury evening Democrat., 1889-07-27

to give binding guarantee that he will not repeat his mistakes of last Thursday.
 Such mistakes are irretrievable.
 ENGLIsH sH MONEY IN AMERICA.
 The Boston Pilot points out this week some of the dangers that attend the inflow of English money into American indus tries, finding especial source of menace in the character of the capital that is seek ing investment here. Capital, it holds. like social classes, is of two opposite kinds; one useful, energetic, beneficial, vivifying, full of generosity and common sense based on knowledge and sympathy. This is the capital of the working business class. The other is like it's owners-dull, helpless, selfish, drinking interest as a vampire drinks blood, hard and remorseless. This is the capital of the aristocrat, the blood money drawn from Ireland and India and the rent-payers and degraded masses of Great Britain. Most of the capital now flooding this country is of the latter class. Under the free trade system of England l there is in all probability less return on | capital than under the bounty paying tar l if system that obtains in the United States Where monopoly of production and dis posal exists money is certain to have the largest earning power, and labor being worth only it's actual market rates capital invested where it enjoys a practically ex: elusive field is certain to pay it's owners better profits than if it were invested where free competition exists. It is for this reason that Englishmen are putting their money into American industries, for while prohibitory tariff protects it from competition from outside they can look for the largest possible returns. Accord l ing to we'll informed American who has recently returned from London, there are two billions of English landlord money seeking investment in American industries, and there is no avenue of protected pro- duction into which it is not seeking ad- mission Breweries and grain elevators have passed into the hands of English syn dicates, and they are now seeking, with a fair prospect of success, to get control ot our steel, iron and coal industries. Is it any 1 wonder that the Pilot and other far-seeing l journals should sound a warning against the dangers of this landlord money getting the upper hand in our industries It is a danger to American industries and the l American of all classes, as the Pilot points out. It is also danger to it's owners, fol it is the most fragrant illustration of the social disease and error which they repre- sent. It is the introduction into America of new kind of servitude. The feuda] lord of the middle ages, bad as he was l was human and had heart. So has the worthless and arrogant British landlord of 1 to-day. The trade lord, the merchant prince, and even the corporation, have warm blood and offer the possibility ot l personal appeal. But such force as this l syndicated British landlord capital fasten
 ed on the veins of the American industrial masses is altogether merciless, inhuman l and abominable. American industries should be free, controlled by American in
 telligence, interests and money, and Am
 erican profits should remain at home. The condition of Ireland under absentee land
 lords is not worse than the condition ot America may be under absentee capitalists
 Of course we will be told by those who uphold the present prohibitory tariff that this inflow of British capital is tribute to the system since it is an acknowledg
 ment of the earning power of money under it's workings. But these advocates
 lose sight of the fact that it is an artif
 cial, forced and entirely unnatural infu
 sion whose inevitable effect must be te
 choke the healthy respiration even ot
 domestic competition. Nothing but dis
 aster can result, and it's worst effects mus
 be experienced by home capital There i.
 in the constantly increasing influx o
 British landlord money to American in
 dustries danger that may we'll engage tht
 most serious attention of our politica
 economists and national legislators
 Something should be done, either bv ,
 reasonable modification of our tariff law,
 or prohibitory tariff on this particula,
 kind of foreign import, to check tn,
 danger before it overwhelms the nation
 A Great Surprise