The Indianapolis journal., 1884-11-29
ARCHBISHOP PURCELL's DEBTS.
The Unpaid Debt in the Cincinnati Diocese
An Unfortunate Affair for the Church.

The Unpaid Debt in the Cincinnati Diocese
An Unfortunate Affair for the Church.
Baltimore Special
Archbishop Elder, in speaking of the Purcell
Indebtedness in the archdiocese of Cincinnati to
your representative, to-day, said in further ex-
PLANTATION that the money received on deposit
was not borrowed by the Very Reverend Ed
ward Purcell for the purpose of building churches
or carrying on works of religion, as stated. 1t
was deposited with him for the benefit of the
owners, and so far were they from looking upon
it as a fund for building churches that very
often they would come to him to draw out what
they wanted to contribute to such purposes, He
continued: '"The great influx of deposits began,
l am informed, during the financial panic of
1887, when there was almost universal sus-
pension of payments, and an almost universal
distrust of banks and of men engaged in ordi-
nary business. Once begun, 1t continued re-
ceyng new impulses in new financial crises
which have occurred since then. The
people thought he would keep their..money safer
than a bank or merchant Moreover his notes
bore per cent, interest. They gave him their
money for safe keeping, and for the sake of the
interests, which he paid up to the time of his
failure He loaned out to men of business in
whom he had confidence, in order to draw from
them the interest which he was engaged to pay.
This confidence was very often mistaken, and
the assignee holds large amounts of notes from
such men, which never can be collected. he did
sometimes use small portions of the money for
churches. and other works Of religion, but what
ever sums can be ascertained TO have been used
for these purposes have been, and will be, freely
acknowledged and paid The most of them have
been paid and none of them have ever been re-
pudiated The matter was thoroughly examined
in the Dctrict Court of Cincinnati, last year.
An immense amount of testimony was taken
and exhaustively discussed by the ablest counsel
in the city. The court was unanimous in the
conclusion that the churches and other instltu-
tions of the diocese, with three exceptions, had
been established and conducted by contributions
from the people; that any of them that had re-
ceved loans from the deposit account of Father
Purcell had repaid them, or had given proper ac-
acknowledgement for their payment in due time.
With regard to the three pieces excepted" con-
tinued the Archbishop, 'the court was divided,
but the majority ruled that they were indebted
to the assignee. and Master in Chancery was
appointed to ascertain the respective amounts.
Whatever these may be they will, of course, be
paid. So much as regards the question of this
being debt of justice, binding on the Catholics
of Cincinnati. With regard to other claims, not
of Justice, but of charity to the suffering of
good will to the creditors generally, of respect to
the memory of Father Purcell, and of the vener
able and sanity Archbishop, his brother, and Of
the zeal for religion, l have. already made a
statement of what has been done and what we
propose to do"