Foreign capital and credit come here and control our most important industries through the ownership of stock in various incorporated companies. They gather enormous profits in this way. and when losses occur their liability is limited by the favoritism of our laws to the stock subscribed. and if that is not paid up the creditors are remitted to foreign countries and their courts for their remedy. To thus crystallize foreign credit and capital as the competitor of home labor and property under such exemptions is to create a more dangerous enemy in our midst than if we could import the pauper labor of all Europe. When such concerns fail there is no adequate remedy left to their creditors. and their employ6s are liable to suffer greatly while the employers may still roll in wealth. We can not help thiis condition of affairs. because the States may invite foreign capital to invest in the stocks of corporations chartered by them. and to come here and manufacture goods under the bounties given by Congress that they could not import except at high rates of taxation.
Identified stereotypes
European labor is described as 'pauper labor'.