The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1891-06-09
A GOOD TIME COMING.
d. H. Gilman's Hopes Founded
in the Great Northern.
CAUSE OF MONEY sTRINeENcY.
He Attributes It to Europe, but Ex-
poets Great Crops-Union Pacific
Line to the Sound.

MT. and Mrs. d. H. Gilman returned yesterday
from the East They left Seattle in January,
ana. with the exception of two weeks which Mr.
Gilman spent here In March, they have been
away ever since. Most of the time has been
spent In New York
81 can say this" Mr.. Johnson declared last
evening; Seattle viii soon have relief in the
matter OF transportation. In about two months
the tracklaying of the Seattle & Montana viii be
completed TO the north, giving Us direct connec
ZION over the Canadian Pacific with St. Paul
ana Montreal. i understand that through trains
will then be run.
"The work on the Great Northern is being
steaoily pushed forward. BY the first part OF
next year the track will be completed to spo-
Kane. IL may also be that during this summer
the line across this state may be located SO that
WORK between here and Spokane may be begun.
ine financial outlook in the East is good
Money 10 abundant, though capitalists are not
putting 1t into speculative enterprises or perma-
nent investments. The great trouble has been,
OF course, that the support of the European
market has been Withdrawn from u.s.
Few people realize the amount of European
capital that has come TO this country within the
last twenty years Without foreign capital it
would have been absolutely impossible for US to
have built our railroads and developed our re-
sources as we have done England and Ger
many have DO ught many OF our bonds
1.-THE fact is that at present the European fnan-
ces are much worse than ours. This country
Is all right. but suffers in sympathy with Europei
You must remember that the failure of the
Earrings was the biggest crash of the kind in the
century. But the world is now 80 rich, and the
matter was handled so well by the English fnan-
ciers, that the effect was very light compared
with what 1t would have been ten or twenty
years ago. Then such failure as that OF the
Barings would have meant almost universal
ruin. 1t is true that the foreign losses today are
heavy, but wealth is accumulating SO fast in
England and the Old World countries that year
or two will wipe out all these losses.
"But meanwhile foreign capital is being with
drawn from this country, as you can see by the
heavy gold shipments abroad. This Withdrawal
of capital cripples us somewhat, but the gold
shipments will stop in the fall We have the
prospect from every part OF the country of one
OF the heaviest crops ever known. Unless some
unforeseen blight comes very soon, the yield
viii be enormous On the other hand, it is
an ascertained fact that the European
crops are short. In consequence large amounts
OF our breadstuffs will find q good market
abroad, and the gold will come pouring back.
"The conditions are much as they were in
1879, when there was such a general forward
movement in every branch of industry and en-
terprise throughout the United States So
look for return of confidence by the first OF
January, and a bull movement which shall
carry us all along toward great prosperity"