Los Angeles herald., 1890-03-23
THE PHILOSOPHY OF THE ENGLISH SYN
DICATES.

DICATES.
The American people have been some
what stupefed at the magnitude OF the
Investments of English syndicates in the
industries of the United States. A New
York journal has devoted special atten-
ton to the details of this eccentric move
ment, and has ascertained that in the
comparatively brief period covered by it
$20S, 600 900 have been placed in the
leading cities OF the United States.
Englishmen were ready purchasers of
our securities during the war, and they
made large money us a result, but this is
an entirely different proposition. Then
the investor knew that great nation
was behind our bonds, and his conf
dence was encouraged by the mobiliza-
ton of great armies and the glamour of
frequent Union victories. Before he
could lose his money the republic would
have 10 be dismembered; and even then,
in the adjustments following the war,
he was certain of protection to
some Fextent at least. But the
present movement Of British capital
is absolutely without guarantee OF any
kind. Much OF it has been placed in
breweries, and the adoption of prohib-
tory law in any Of the States which
have been the theater of English III
vestments would absolutely annihilate
this capital without recourse. The facts
tn hut
single journal, The Age Of Steel, has
undertaken to give the philosophy OF
this new English departure, 1t says
that the mania for the investment OF
English capital this side OF the Atlantic
has deep and profound significance.
1t is something more than financial
speculation and personal enterprise.
When money has to leave home and mi
CRATE for investment, it is logically evil
dent chat it is idle or risky where it is,
and seeks wider and more prospective
outlook.
The migration of British gold is a con-
fession of industrial and commercial
change, and the rising OF new nation
to supremacy.
Europe today is standing on a volcano
The final explosion is simply a matter OF
time, or some precipitating event. On
that eruptive occasion, it will be a
matter OF revolution in the methods of
government. The people are coming to
the front, and the rights, both social
and industrial, long denied, will be the
momentous consideration.
In England the symptoms are beyond
question. They are cropping outin all
directions, and their eventuality can be
anticipated without guess or query.
Public opinion in England is slow and
certain on vital questions. The people
are conservative in the processes OF de-
velopment, but never retrograde when
once certain idea has crystallized into
national conviction. 1t has reached
it's present freedom by degrees, and what
it has OF that precious article it holds
tenaciously. No nation in Europe is on
par with Britain in its present status OF
freedom, security and sacredness OF
| individual conscience, and there is
no immediate need OF governmental
change, but so much the more
absolute certainty of its being realized
when demanded. The progress of the
masses in intelligent conception OF po-
litica and industrial justice will place
them eventually at the head of European
advance in these directions, but the
music of change has no charm for timid
and suspicious capital, and its migra-
ton is confession of its apprehension.
Add to this the conviction of the mod
ern Shylock that commercial suprem-
acy is changing hands, and you can
read his reasons in his investments.
The balance of power and the star of
empire are moving westward. Com
merce gravitates to the largest load
stone, and Great Britain must eventu-
ally surrender its commercial royalty to
a hemispherical nation. The establish
ment of, republican government is here
an unprecedented success, in it's prom
ise of perpetuity and its basis OF truth
and justice. Capital is not timid in
such conditions OF security, and it is an
indication of faith in government and
future on the part of English investors
that they are shipping their gold across
the Atlantic.