Lyric discussion by little_englander 

Cover art for Archives of Pain lyrics by Manic Street Preachers

Correct me if I'm wrong, but recording technology didn't exist in 1888. One of 'Jack the Ripper's victims' indeed.

The song is pro-capital punishment. As Zed92uk said, it's a reaction against the glorification of serial killers: something the Manics, ironically enough, participated in when they wrote 'Patrick Bateman'.