Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-06-23
ANEW BOND OF UNION
The English Capital That is Being
Poured Into the Country
is A SURE GUARANTEE 0F PEACE.
Large investments Already Made and
More Are Contemplated.
CAUTIOUs AS WELL AS ENTERPRISING
Is A SURE GUARANTEE OF PEACE.
CAUTIOUS As WELL AS ENTERPRISING
,co,nrspoSpExCr OF THE DISPATCH.

Wiman. the Canadian-American fnancier,
and head of the commercial rating firm OF
r. g. Dun & Co., said to the writer: "En-
rlish capitalists are investing heavily in
American industries They have put at
least $780, 600, 600 in them within year and
if they continue they will soon control many
of them" Mr.. Wiman smiled as he spoke,
but he was nevertheless in earnest, and he
confirmed it by further remarks of a like
tenor. Mr.. WIman is interested in many
of the schemes in which English capital is
concerned, and is therefore in a position to
speak with authority He sails on June q
to confer with English capitalists in regard
to new Investments of an important nature.
The steady trend in the direction of the
United States of British capital is unmis-
taxable, +" says Mr.. Wiman. EVERY mail
brings indications of this character, fact
which is testified to by almost every man at
all prominently connected with business and
financial matters on the other side. There
is "ast accumulation of money in Great
Britain which above all things in the world
needs an Understanding power. Years OF
successful accumulations, to which all the
civilized world has been contributory in the
unceasing payment of interest, has resulted
in
A PLETHORA OF FUNDS.
"while the accumulation has been steadily
increasing the opportunities for its employ
ment have been diminishing. European
national loans have hitherto absorbed large
", but France, Germany. Austria and
Belgium have become very rich and are
now competitors in lending money, while
investments in Russia, Turkey, Egypt and
other countries have reached the limits of
safety. Land in former days absorbed
largely and paid literally for borrowed
money, but competition from Russia, India,
Austria and America in grain and cattle
have destroyed the profits of the English
farmer, so that the employment of money on
interest is out of the question.
"The consequence of the foregoing is that
there is a necessity for an investment outlet
which most naturally and proftably turns
in the direction of the United States. The
spectacle here presented is of government
reducing its indebtedness with a rapidity
unequaled in the worlds history, at the
same time possessing a surplus in its treas
ury beyond any parallel. Further, in spite
of taxation necessary to achieve such a re-
suit, the country is in the highest degree
prosperous. 1t is true that competition in
railroads and industrial enterprises is a
luxury so expensive as to threaten to
ANNIHILATE THE PROFITS,
but it is in Just this condition that English
capital comes TO the rescue and by co-opera-
tion and combination, rendered possible by
large amounts of money, makes the oppor-
tunity for large returns. The result of
economies, abandonment of wasteful meth
DDS and curtailment of production is the
possibility of profits which, to the average
English investor, are almost beyond the
dreams of avarice. The purchase OF numer-
Gus breweries and combinations of various
industrial establishments now in process of
purchase are indications in this direction.
Fully S5O,0O0,0O have sought invest
ment in breweries alone within a year.
Steady streams of money pour into farm
lands in the South and Southwest and into
mortgage companies, and the encourage
ment which has been given in England for
the supply of all the money necessary for
the unifcation of the salt interests, even up
to SIS, ,000, 900, is sign of the growing ten
dency of money in this direction. Mr..
Blaine's statement that England is plas-
tered over with trusts is literally true.
Combinations of this character are by no
means so unpopular there as here, owing to
the meagerness of the market and excessive
competition. They are therefore quick to
take advantage of the opportunities pre-
sented here for safety, profit and perma-
nency of investment in industrial combina-
tions.
THE QUESTION AS TO WAR
between the United States and Great Brit
ain never enters the mind of the British in
vestor, and it would be we'll for the United
. States as for Great Britain if by some legis-
lative arrangement the relations between
Canada and the United States could be so
adjusted that pending difficulties could be
put forever out of sight and thus prevent
the possibility of conflict between the En-
glish speaking nations of the earth.
''In view OF all the foregoing it would not
be surprising if British money to the extent
of hundreds of millions were diverted in
this direction; and, further, if most i'm
portant industrial revolution regarding
combinations and competition should i'm
pend in this country As to whether the
control of great industial establishments
would Of necessity pass into English hands
because of their large investments nothing
has yet transpired to indicate a decided
tendency. Hitherto purchases of breweries
on this side have mainly assumed shape in
England through English incorporated
companies.
"This transfer of property in the United
States to English corporations has been
somehow achieved without reference to the
fact that aliens cannot hold or convey real
property in various States, notably New
York. A change, however, impends in the
form of English proprietorship by the
vendors of property availing themselves of
the general laws in the different States.
One of the benefits of this will be that
stock of English holders can be trusted in
the hands of American representatives, who
will thus hold perpetual proxy"
A wELL-KNowN FACT.
The fact that English capital is invested
In many ways in the United States is known
to other men besides Mr.. Wiman. A
wealthy merchant said: English money
is not only factor in our industries, but
also in our politics. While am not in a
position to furnish legal proof. and, there
fore, do not dare to have my name men,
toned, / am morally certain that Eugland's
agents are to be found in the lobbies of our
Congress and many of the Legislatures.
These agents are not Englishmen, but
Americans paid by English gold. I could
name some Of them, and if did it would
make q most tremendous sensation. They
are nearly all prominent, with regulations
for patriotism. The English capitalists con-
troll the new Salt Trust and some of our best
tin mines, they are interested in our rail-
roads and they own large quantities of val
liable lands, and lately they have mani
tested desire to branch out into many
other investments.
''While the Salt Trust is nominally partly
American it is really under British control,
and no one knows this better than Mr..
Wiman, who is himself holder of the
stock. English capital is even going into
our factories and stores. Do YOU think that