The morning star and Catholic messenger., 1879-02-02
ARCHDIOCESE OF c1Nc1NNAT1.
SEMI OFFICIAL REVIEW OF THE FINANCIAL
TROUBLES.
Cincinnati Catholic Telegraph.


Ever since the failure of several banks
of this city created panic among bank
depositOrs, large number of those who had
entrusted their savings to the caro- of the
Vicar General of this diocese became
seized with the contagion. Though the
diocese is fully able to pay all its indebt-
edness, to discharge all its pecaniary obli
cations without mortgagiDg any congregs-
tionsl property, it vas impossible to CON
vince the excited minds of depositors that
their money was perfectly safe and would
be repaid in due time ts the last dollar.
The excitement began at time when it
WAS impossible to convert property or
notes into cash without incurriog heavy
losses. 1t could not be done without sac
rificing what many years of toll on the part
of Very Rev. E 1ward Purcell had acquired
in the interests of religion. For forty
years be had carried the burden of the
debts of this rapidly growing diocese.
When institu tious of charity were needed
he furnished the means gathered by his
hnauclal ability TO baild them. When re-
ligious communities sought help to open
schools and academies the came hand gen
eroCsty extended to them material support.
Some of them have gratefully remembered
this liberal aid in the day of diocesan dis
tress. When church treasures were empty,
and creditors grew clamorous, again and
again, during the forty years of the fnau-
cial administration os this remarkable
priest, pastors aud trustees applied to him
for relief and were never refused, when it
was possible to graut their request. To
day, as far as We. know, there is not a
mortgage on a single parish church of this
diocese. Deots there are, but they are
comparatively small-a mere clothing
when we consider the wealth, the number
aGd the unfailing generosity of the Catbo-
lica of this diocese. If this healthy condi-
tion of our many congregations is due in
RI fhn a~h hon lnao oh ifxy nfk hill
dren of the faith, it is due also in large
part to the able, sagacious and hard work
ing financial agent of the venerable Arch
bishop. Nor is this all. 1t is the proper
time TO refresh the memories of thousands
on another point connected with the great,
ceaseless work of our venerable superior.
Forty years ago, when the tide of emigra-
ton began to bring Catholic settlers to this
city and State, extreme poverty was asso-
ciated with the name of Catholic. These
emigrants brought with them hopeful
hearts and strong arms. Bdt they brought
with them no money to enable them to
complete in business with nou-Cathoiics
who had money or a circle of moneyed
friends willing to assist them. day
thousands of those Catholic emigrants or
their children are living in most comfort
able circumstances. In the city they have
purchased homesteads; in the country
they are the owners of rich farms. HQnd
wealthy citizens of tue State.
II the records of most of these families
we're read, it would be found, that the
foundation of this widely distributed
wealth among the Catholics of this diocese
was laid by the hands of the Vicar Gene.
raj. When hundreds could offer no secur-
ity and would have vainly looked for as
distance in any other direction, he loaned
them to provide a home for themselves
and their children. Some have repaid this
generosity with ingratitude others have
indeed felt the pressure of it's claim in the
day of distress, and have given in the same
measure in which they received.
During forty years the Vicar General of
this diocese, laboring solely for the inter-
ests of religion, never had the slightest
financial trouble. All obligations were
promptly met-sn debts incurred by the
diocese were liquidated. This condition of
things would have continued, ifdepositors,
alarmed by the failure of banks, bad not
been carried away with senseless fear,