The Big Stone post. (Big Stone Gap, Va.) 1890-1892, 1890-10-10
THE M'KINLEY BILL.
what shrewd Business Men in the North
Think OF 1t, and tho Effect 1t VIII
Likely Have Upon Southern
Enterprises.
WE HAVE THE BEST OF IT.

WAsurScroy, DC, Oct 9.-Sevcral prom
inent Englishmen were in this city during
the discussion OF the Mckinley bill and
wee exceedingly anxious that it be de-
feated or modified. In several interviews
they had with newspaper correspondents
they took the ground that it would inJure
our trade abroad But one, who has finally
CONCLUDED to establish Il branch manufac-
firing enterprise in this country, admitted
to-day that the effect of the bill would be
70 force the establishment of other English
cpternrises in America. "Eour country,
said he. "has been our best. market; but
under the new law VIC shall not be able to
supply Won longer, as it will he impossible
for us to compete with your home indus
tries. But rather than lose yeur custom
we shall establish branch plants and get
the benefit of your protective duties"
The idea that the English objected to
the measure because il would hurt our
foreign trade and give them the advantage
of being without a great competitor IN
South America, was an absurdity, though
the free trade papers have been silly
enough to base objections to the bill upon
such statements.
The fact is the bill, though objcctiona-
bic in some respects, will proye of great
benefit TO the country and particularly to
the South 1t will not only protect the
Southern mineral section from the inju-
rious competition of the low-priced labor
of Europe, hut it will have the effect of
bringing deal of English and German
CAPITAL to that section 1t also gives con-
fdencc TO Northern capitalists, and you
NAV expect heavy investments from New
York, Massachusetts and Pennsylvania.
There will be less difficulty in securing
money for Southern enterprises from the
money ccnters. Prominent manufacturers
and capitalists who have been much in
Washington recently take this view OF it,
and say the hostility of Southern repre-
senta,iyes to the bill was in direct conflict
with the interests of their constituents.
"Adopt Il measure like the Mills bill, >"
said Il shrcwd Northern protective demo-
crat and manufacturer, the other day, land
every industry in the South would he par
alyzed. The South has great advantage
over the North, because of its cheap raw
material and the proximity of the coal, to
the IRON but that advantage would be
overcome il the duty were removed from
iron and coke We could get iron from
Cuba and Spain, where frst-class miners
get only from 30 to 40 cents per day, and
we could get coke made by labor equally
as cheap, or cheaper. Our plants are in
close proximity to the scaboard, and If
the duty were removed we could hold our
own with the South. But neither North
or South could stand out agant the for
eign product made by such cheap labor.
Altogether the South has, by odds, the
best of the situation under the Mckinley
bill, though her representatives are making
such an cutlery against it. The leaders
started the clamor and the undcrlings
have taken it up; but it is all political
clap-trap and done for party effect. 1t
seems to Inc a great pity that Southern
politics should he in such direct conflict
with Southern interest The two should
60 together, as they do in the North"
There is certainly u feeling of relief and
security among all the capitalists have
met since the passage of the bill, and
have seen quite Il number. They feel now
that there is no danger in putting their
money in Southern lands and Southern
furnaces, or in any other section where
the profits from investments are depend
ent upon the continuace of protective
duties.