The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1889-08-03


Foreign Investments in the United States.
For ne Meltgeaeer.
There is a deep seated prejudice In
this country against the idea OF foreign
combinations Of capital buying up indus
trial establishments and other enterprises
here and there throughout the land.
Many announcements OF such purchases,
real and projected, appear in the news
papers Of late, and with such frequency
have they appeared that the public Is
no doubt getting the idea that foreign
capital is at work swallowing up q vast
amount OF property in this country with
great voracity and at a rapidly inCreas-
ing speed.
There have undoubtedly been some
investments on the part Of foreigners Of
late in industrial enterprises In this
country. Several brewcries appear 10
have been bought in the East and West,
and ono or two iron works, but we doubt
II outside Of these any considerable NUM-
Der OF purchases can be verified. We
hear much OF negotiations for mines,
cotton mills, wooden mills, iron works,
etc., but the rumors are possibly as ten
to one for every actual bona tide trans.
action.
These investments are mostly credited
10 English capital, because 1t is known
that England having recently refunded
her debt at a lower rate OF interest (2A
per cent. instead Of 8, as formerly q con.
siderable amount OF dissatisfied capital
has been paid of and become available
for investment elsewhere.
Some of this capital has sought In
yestment in the United States and II is
probably English capital that has alb.
sorbed a number OF the breweries that
have been sold 90 well as some OF the
mines and iron concerns. But In i'd
dition To English capital q certain
amount OF Continental capital has also
come this way for Investment. Still the
aggregate Of all these investments has
not been enough to prevent large ship
ments Of gold to Europe thus far this
year.
II half the rumors aloat Of large pur-
Chases by foreigners were true foreign
exchange would have been in such ex.
supply for months past as to
have precluded all pretext for shipping
gold. When commercial bills Of OK.
are plenty coin does not go
abroad 10 settle balances, any more than
currency would be shipped to New
York from Wheeling by express when
TRAITS can be bought for the same or less
expense.
Surprising, however, that 7 was true
hat very large Investments have been
made by foreign capital In the bust
ness interests ofthis country, what Of it
What particular harm does u do nsP
suppose, 10 rinstance, that the Wheeling
Dreweries had been thus absorbed by
capital, or that a nail mill or two
lad been bought here, what harm would
lave resulted to this community In any
possible way?
Would not the result be Just that
much capital added 10 our ex.
sting capital2 The people who might
out would have Just that much
money 10 90 into something else In our
nidst-something, II YOU please, that
would employ labor and build up the
ommunity-and OF course we would all
10 benefited by the influx. We world
III be glad To see a million or two Of
Money added 10 the capital Of this com,
nunity inasmuCh as It would tend 10
Emulate some new enterprises that
would give greater variety 10 our pur.
uits.
The fear Of a great soon coming war
n Europe no doubt tends 10 quicken
le natural desire OF foreigners 10 Ia.
'est In d country like the United States,
Where there Ii no danger Of war and
There Investments promise better TO.
urns than Ia Europe. Still foreigners
% not forget that they have paid llber.
lily for their experience as Investors In
hiB country. They have sunk untold
Millions In railroads and other invest.
nentS. The holders OF the Virginia
Ieht are largely Foreigners aud certainly
hey do not consider themselves Sub.
scts Of congratulations
Foreign capital has irrigated many
Of this country aud enriched them
| the expense Of ctedulous investors,
Ne therefore have no reason ~ yet 10
teoomo exercised Ia regard 70 these
umored investments Of additional for.
Ign capital,
EcoSoltY and strength arc peculiar 10
SatsapAtllla, the only tnedicine