The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1889-08-20
ENGLISH CAPITALISTS N TIE UNITED
STATES.

The investment of capital is an
expression Of confidence, not only IN
some particular business. but in the
stability Of the country. The Lon
don Illustrated News estimates that
Englishmen have invested not less
than five hundred million dollars IN
American railway bonds. But this
j. only one item OF investment
British capital Is now seeking IL
vesmsnJs IN brewerIes. -four mills.
mines, and IL other great enter
prises which premise - pay mod
crate dividends The volume OF
this money drift has largely IN
creased during the last few years. Is
there any visible reason for this in
flow q capital from Great Britain
other than the desire for profitable
investment Now and then one may
read IN English publications sharp
criticisms on the instability Of re
publican Institutions in this coun-
try. II these vera TO be accepted as
lust the inference would be that
everything was unstable. that the
great geographical divisions of the
country were hostile TO each other.
and at no distant day there wonld
be political chaos.
Now. II this view were a Just one.
or had in it any element Of truth.
British capitalists would not be
sending over their money by mil
lions for investment in this country.
They have al present. according to
recent estimates. not less than q
thousand millions invested IN vari-
Gus enterprises in the United States.
Probably about one half OF this Is in
railway bonds ard shares. Tor the
reason that, while these are not in
all cases the safest securities. the
interest and dividends are. in most
instances, large John Bull likes a
solid security. but viii accept one
less solid IN consideration Of larger
returns. There Is at this date more
British capital seeking investment IN
the United States. probably. than at
any former period in the history Of
the country. Ii a great enterprise
is set or foot there IS no trouble in
securing foreign capital There Is
not a good mine n the whole
nor one that promises to be
good. the owners Of which could not
secure foreign capital.
II times of great political dis
turbanee. or when revolutionary
are visible. capital eYpe
riences the first tremeT Capitalists
are prOverbially cautious and timid.
The political disturbances in Ireland
may have something to do with the
drift Of British capital
the impression that q great
European war is pending may have
bad much more to do with this 1
money drift The situation in /
Europe is less assuring than ii was
six months ago. Russia a few days /
ago disfranehised the Lutheran
Church ia that country because it /
was essentially German in origin /
and sympathy No less than 1900, |
300 communists were. by decree oi /
the Gar uuchurched, Perhaps the /.
political significance Of this act has /
been overTsted, II a great Euro. /
pean war were 20 occur az no dis 4
liant day, while there would be some /
great opportunities Tor the employ /
ment Of capital in quick turns, 4
stocks would tumble.
The one Thousand millions which |
British capitalists have invested in
he United States. and the other
that are coming, is a fact
counter 70 all The adverse
criticism on the institutions Of this
tits John Bulls testimony
hat Republican institutions are 10
" trusted. III he thought otherwise,
lis money would not be sent here for
permanent investment, He is send
ng more money 10 this country at
his time than TO any other in the
world. and this. too. when all Europe
5 menaced BY the danger of war, the
and the end of which not
be wisest can forecast. While q few
oreign critics are busy IN trying 10
rove that things are IN a bad way
iere, the increasing volume of Eng
ISL capital seeking investment Is an
foreign judgment in favor
{ stability. II S. +. Bulletin. r