The state rights democrat. [volume] (Albany, Linn County, Oregon) 1865-1900, 1889-08-02
ENGLISH cApIrALlN AMERICA.

J Il Is not probable that all the rumors Of
English Investments IN this country are
well founded. Many of them must be SEN
sallonal, but at .he same time there Is no
doubt that English capitalists are turning
their attention to America as never before.
There are rumors o. trusts and big syndi
Gates on every hand, and In almost every
case English capital Is con>erned. The
policy Of the country, pursued for more
than a quarter Of a century, has been spc-
clally favorable 70 big corporations, big
monopolles and big trusts, aud the English
capitalist, ransaeking the earth for good
investments, has not failed to comprehend
the situation, While the orators and or
gans of great party have been holding up
British free trade as a bugaboo to frighten
voters with, the English themselves have
been quietly taking advantage of the situa.
ton. Il Is folly to argue thata country
which thus attracts capital Is on the road
TO solid prosperity. t,he foreign capital.
lists came here, and expended their earn
lags here, or added their increasing wealth
to the wealth of the na,lon,it would be an
other matter, but they do not The profits
on their Investments 60 on. OF the country,
aud stay out. Dividends upon railroad and
mining stocks profits from Immense cattle
ranches, the earnings OF foreign capital In
vested in any form, are paid in coin and
bullion drawn directly from the resources
OF country at present SO rich and strong
that people are disposed to mock at the
suggestion of disaster. Aud We, the condi
tion, IN principle, Is precisely that of Ire
land, with It's non resident landlords, spend
Ing their incomes in foreign capitals Ne
country is so rich, so great or strong thai
il can continue indefinitely to sustain I
drain upon It's resources that Is not conn'
terbaianccd by an equivalent. Last Sa,ur
day there were large shipments of gold t.
Europe There were similar shipment
the week before. and the week before that
The balance Of trade Is against America
and that, too, at a time when the circulat
ing medium Of the country Is needed 4
begin the movement of the grea. western
crops toward the seaboard. The financia
journals are not disposed to be alarmist'
but there Is not one OF them which doe
not betray dissatisfaction II not uneaslnes
at the situation. II Is grand thing In
theory, to give capital so great induce
ments that Il will seek investment, but u
practice there is grave danger OF OVERRIDING
Il. To the extent that foreign syndicate
and home monopolies have been temples
to grasp the industries of the country,
has been over done here. True statesman
ship would have kept the barrier OF pro
tection at point nearer the actual differ
! enee between the cost OF production her
and abroad. True statesmanship demand
that the barrier be lowered TO that poin
now, before the policy OF unreasonable en-
eouragement 10 syndicates, trusts and mo
nopolies has worked irretrievable mischief
Another thought suggests itself in ,hl
connection. IL free trade has ruined Eng
: land as advocates Of a high tariff woul
n have Americans believe when an election
4 Is pending, how does IL happen tina, Eng
II lishmen have money and to spare vi,
II which to buy up American -four mills
c breweries, lead, gold end silver mines, COZ
y per mires and salt works, almost withou
a without limit As ruined country Ems
A land presents a strangely anon alous cor
dition Of things.