Omaha daily bee., 1890-01-05
John Bulls Bullion.

BEE. II have interviewed q number of the
leading capitalists Of Washington as to the
effect OF the invasion of English capital
which has been going on to such an extent in
America during the past year. Within the
last six months the English have invested
millions of dollars in all sorts Of American
industries from breweries TO iron works, and
the question as TO whether these investments
are 10 result in Anglo-American monopolies,
whether they are TO affect the relations of
labor and capital and whether they are
likely to involve us In international compli-
cations with England are subjects of 6 reatin
terest. Som of the men interviewed, how
ever, appreheud no danger aud say that Eng
land may send on her money and America
will see that it is put where it will do the
most good. Others think the effect of their
Investments will be disastrous.
SENATOR SHERMAN OBJECTS TO SUCH INVEST
MESTs.
Senator Sherman, ex-secretary Of the
treasury, and one OF the leading financial
thlnkers Of the United States, was found in
Als committee room at the capitol. He said:
1.-THE English are now seeking invest
ments In every part of the world, and the ag-
gregation of capital in England is wonderful.
Z Their money has been gathered from all OF
So four quarters of the earth made from en-
tesprises of every kind. There is so much of
1t that the interest on a large part does not
exceed 2 per cent. And a great part of it Is
4 more or less dormant. The English capital
( isto have discovered that in America there
are great enterprises increasing aud expand
uingln a wonderful degree, and their obser va
4 ton and experience shows them that certain
. Investments here yield from b TO.
Z 8 per cent and more. The diff
ference between this and the low rate in
: England is q very great temptation to Eng
a fish investors and theu are awaiting them
selves of such Investments to an extent al
most unknown in business operations. l
think the effect of such investments upon
our own country is injurious. Much of the
American capital which will thus be relieved
from employment will seek investment in
visionary speculations and this will very
likely disturb the market with useless sup
plies and may in tie end produce panic and
disaster.
s. SENATOR CoCKRELL's VIEWS.
met Senator Cockrell of Missouri in a
street car going out to the capitol, and asked
HIM as u whether any English capital had
been invested in his state. He replied:
''Yes, they have been buying. up. some of
our breweries in st. Louis, and l think they
will probably make money out OF them.
From what / can learn they are making
their investments in a legitimate way. They
investigate the books of the concerns they
Duy 1Or q nall-uOZeu years uaCh tuU UdSe
their calculations upon the profits the
works have paid during this time. Ii
they think they will net them six per cent in
the future they are satisfied to pay a proper
tomato sum for them. They don't expect
the high rates of interest that we do, and IT
they run their establishments carefully l
don't see why they should not prosper"
.Do you think such an investments are to
the interest of the people OF tho United
States!" 1 asked:
II can't say as to that" replied Senator
Cookreil. 1T depends on who controls
them and how they are run. If they should
get cantrol CT our manufacturing establish.
ments and should monopolise our protected
industries so that they should supply just
enough and no more than our present de-
mands without attempting TO make supplies
Tor expectation, l can see where they might
make the condition OF our foreign commerce
even worse than 1t now ID. They might
have their English branches which nigh,
supply the demand for the rest of the world,
and thus push England to the front and hold
America back. In such a way the use Of
foreign cheap labor could be nti
abroad and they could be kept up here to the
high tariff basis. So far as see they have
mot been watering their stock. An this Is
in their favor, for the watering Of the stock
of business enterprises is one of the curses
of the country.
WHAT A n d MILLIONAIRE THINKS
. Senator Stanford is one of the Creates
capitalists in the United States. He i:
worth nearly 500, 000,0 JO and is a man Of
ideas.
IL found him at his home on Farragu'
square. He said:
j ''At first thought the idea Of the Englist
investing in and controlling large establish.
ments IN this country Is repugnant and
have not liked IT. apprehend. however,'n
danger from it. The English are payInl
good prices for everything they buy and thi.
capital is at once reinvested and oul
volume of invested money IS thus increased
We have room for plenty OF money. Gu
country Is still in the infancy of its develop
ment. and the situation is not as it would b,
ii we had a sur plus of capital. 1 don't thinl
such investments will result in Englisl
monopOlies in America. Aud the momen
they take on this character and attempt 4
raise prices, American competition will RUS
in and crush them. American brains an
money making capacity are certainly equa
to those Of the English and l think that W
can hold our own.
"But will not snch investments caus
inter- national Complications
II cannot see how international compiled
lions can arise from such investments,
said Senator Stanford. 81 do not
however, believe In allowing fol
and in the United States.
SENATOR PHILErUs sAwYER-A LUMBER NIL
LIoNAIRE.
Senator Sawyer of Wisconsin Is anothe
great capitalist. Starting life as q lahore
he now owns millions of dollars worth {
pine land and lumber mills. The fence
about his Texas farms are miles IN exten
and he is the possessor Of a gold mine nes
Washington. He is a practical bushes
thinker aud when ] asked him as to til
effect of English capital upon America, h
replied;
II have not thought much on the suoiec
but / can see no harm in England sending I
all the money she has 10 spare. We have
great country with immense resources yet
be- developed. The money receive
well invested by Americans. ar
the whole will be at any ra
but o drop in the bucket. 1t will be a
sorbed by our people ana Will tend to o,
advantage. / do not apprehend that ar
international troubles could possibly ART
from it. In the west we need all the mont
we Gun get, aud we are ready TO let Americi
brains and ability take its chances
eventually controlling any sums which a
sent here by England"
SENATOR PADDOCK
10 another senatorial millionaire. He tel
me that while he has given the subject sou
thought he has not as yet formed a settl,
Judgment of the probable effect of these il
vestments upon the business, political al
social conditions Of the country. Says h
Indeed the best evideuce-that whi,
49, A.l.- he a.,.A brntab a.nAriau ~