St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-09-10
GLOBE TOWER SHOTS.

Senator Washburn, as the fruitage of 2his
study of institutions abroad, learns that
the Americans who go abroad are mostly
Idiots who do not go to study institu-
lions, " but to go ''swashing round" An in
terview published in the Minneapolis Times
with President Northrop, of the university,
who returned from a European tour just after
the senator, confirms the senator's rather
startling statement. The president says in
reply to the question of the reporter il ne
heard anything about the Mckinley bill in
Europe: Il should say l did. IL is the black
beast of the English people One hears about
it on all Sides for it is the general impression
among the English people that there should
be perfect free trade between the two coun-
tries and not until that time is reached Will
the commercial relations of the two countries
be complete. However, occasionally you will
ind an Englishman who confesseS that pro-
lection has been the best thing for Am erica
Did the observance or these things change
your politicalabelief?" asked the reporter.
Not at all; although 1 believe in pro-
lection for the present, think that free trade
is the ideal, but this country is not at present
in a condition for it to go into effect 1t
needs to be built up thoroughly by means of
the production of cur own industries" The
president goes IS washing around" the eco
HOtLAC HutSliOn III l1dL ldSG SGILGuC5 Ill
manner to make it clear that he is one OF the
class whom the senator had in mind.
Somebody is making a very nice thing out of
the treasury purchases of silver bullion. On
the I'd the treasury bought 679,0)O ounces au d
paid for it prices running from 1925 to 9S.40
cents an ounce though the commercial
price quoted was 9775 cents. On the samo
day the price of bar silver in London was
As lilo pence an ounce. The treasury paid
1875 cents an ounce for what bought more
than the London price AS we are exporters
ofbullion, the normal condition would be
lower price here than in London, just as
wheat is lower. The treasury paid on its
September purchase SI43T more than the
London price.
At the London price of silver on the I'd our
buzzard dollar the one President Harrison
says sis good for a dollar anywhere" was
worth on that day. anywhere over our bound
aries, 69.9 cents. That is, to put it in con-
crete shape, if man stepped on to our end
of the suspension bride with 100 silver dollars
in his POCKET they would shrink to S639)
when he reached the Canadian end. Harrison
probably meant almost anywhere"
Perhaps as significant an indication of the
financial situation as any may be found in
the payments of customs in New York For
August they were $95lS,000 less than the
same month last year, but Of the $40, AGO, $50
paid out but 2 per cent was in gold, u. 6 in
gold certificates, nothing in silver coin So in
silver certificates and the rest in treasury
notes.
There is an unpleasant difference in the
statements of facts made by the officers to
gather facts for the government and those
editors OF Republican papers whose occupa-
ton it is to gather facts to support McKin-
leyism. The difference seems to be irreoon-
cilable. For instance, Chicago dispatch
says that Mr.. Stewart and his assistants who
have been in that city for several weeks col
lecting statistics of wages and prices, whole
sale and retail, for the senate committee
which is investigating the workings of the
Mckinley act, have finished their work
They find that prices have advanced on many
articles, while wages have not advanced save
where the iron and steel workers had a slid
ing scale and the glass workers q strong
union. Marshall Field d Co. and James H.
Walker & Co. are given as authority for the
statement of advanced values of goods. But
against the statement of these mere theorists
we have the assertion of such practical bust
ness men as the tariff writer of the Miuneap-
oils Tribune that Except on three or four
articles everything on the list has Decreased
from 80 to 20 per cent