"For my own part I shall be compelled to compete in England, having nothing to do in Ireland, and I shall of course transport my staff and labourers across the Channel.
"The railways of Ireland, fostered by English capital, resting on England's security, have given vast employment to my countrymen. But they would do so no longer. Let us give an example to prove my point.
"Before the introduction of the Home Rule Bill the railway stock to which I have referred stood at a premium of 27 per cent. Since the bill became public and has been the subject of popular discussion, I brought out the Ballinrobe and Claremorris Railway--with what result? Not one-seventh of the sum required has been subscribed, although in the absence of the bill the amount would certainly have been subscribed four times over, at a premium of 20 per cent. What does this prove?
"Simply this--that the farmers and small shopkeepers who invest in this class of security will not trust their savings in the hands of the proposed Irish Legislature. The bill, therefore, stops progress, retards enterprise, drives away capital, and the workers must follow the money. That seems clear enough. Everybody here concedes so much. More than this. I can say from my own experience, and from the reports of my agents and engineers in the South and West of Ireland, that the Nationalists do not want this bill. I do not speak of Home Rule, but of this bill only. All condemn its provisions, and universally concur in the opinion that once it were passed it would be succeeded by a more violent agitation than anything we have yet seen--an agitation having for its object the radical amendment of the measure.
"There is a complete cessation of railway work. Already the men are thinking of moving. But this is not all. I am now at a standstill, pulled up short by the bill. What is the effect on England? Under ordinary circumstances I buy largely all kinds of railway material--steel rails, sleepers, fasteners, engines, and carriages. Every year I send thousands and thousands of pounds to England for these things, and surely most of the money goes indirectly into the pockets of English working men, who are now suffering the loss of all this by reason of their apathy in this matter. I speak only as a man of business, anxious for the prosperity of my country. I do not discuss Home Rule; never did discuss it and never will. But I end where I began, and I repeat the bill will ruin Ireland, will be bad for England, and I will add that the British Government will soon be compelled to intervene to stave off Irish bankruptcy. Home Rulers are now becoming afraid of the bill; artisans, farmers, and labourers think it a good joke. They relished the hunt, but they don't want the game.