St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-05-28
THE ARCHBISHOP OF ST. PAUL.
VOICES HIS OPINIONS ON
ECONOMICS.
DANGER IN FREE SILVER.
CHEAP MONEY CRAZE A THREAT.
ENING IMPEDIMENT TO
PROSPERITY.
ERRORS OF LABOR LEADERS.
Considered as n Second Mennce fo
the Prosperity Now at
Hand,

Archbishop John Ireland returned
nome yesterday, after an extended
business and pleasure trip in Chi
cago and through the East. While
absent the archbishop visited the
prominent money men of America,
and investigated thoroughly the finan-
cial condition of the country. He
learned the opinions of the leaders
on both sides of the free coinage
question, and to a Glob reporter
at his residence last night logically
expressed his earnest convictions not
only on this important matter, but
the other pertinent issues of the day.
including the present and future con-
dition of the laboring man, social dis
turbances and the possible impede
ments to a future prosperity. He
spoke forctbly and eloquently. He re-
CARDS the proposition to have silver
restored as a menace to all present
and future prosperity. He placed the
silver craze as the first serious inn
pediment in the way of business re-
vival. Secondary to that, he placed
labor troubles. He was particularly
severe on the few irresponsible So
called labor leaders, whose only oc-
cupati0n seems to be making social
disturbances, while their poor sub
jeots are left to bear the burdens
necessarily resulting from these up
heavals. His remarks will be read
with interest not only in st. Paul,
but all over the country, for there is
probably not public man more in
harmony with all classes of people.
He takes no middle ground" says
the Chicago Herald, "and unquali-
fiedly condemns the present agitation
and what is proposed to be brought
forth from it," The archbishop is
looking very we'll and was much
pleased with his trip. He said:
A DECIDED REVIVAL.
What 1 especially noticed during my
Eastern trip is the revival of conf
dence in the business world and the
manifest signs of a dawning era of
prosperity which shall soon come to the
country. The rise in stocks and bonds,
the price of wheat the advance OF iron
and other staples, reopening of facto-
ries, additions made to the wages of
men, are all facts to be taken into
consideration when making a forecast
of the future. improvements have al
ready lasted too long to permit the
idea that they are merely temporary.
1t is clear that foreigners are buying
largely our stocks and bonds. Here
tofore they had lost confidence in
American securities and were selling
rather than buying. Now confidence
has returned, foreign capital needs
outlets and it naturally looks to the
United States If the the coditions OF
the country at all warrant confidence.
Men who have their hands upon the
purses of the country have spoken to
me most hopefully and told me in
their opinion we are on the eve of
great prosperity. The resources of
America are immense and only our
own folly can bring and retain hard
times.
1--WE have learned during the last
three years most valuable lessons. We
are less extravagant, there is a cessa-
ton of dangerous political agitations.
The last congress which showed such
utter incompetency is out of existence,
and although the future congress may
De more uHttTl SUN llS HleiuDtio
were elected out of consideration for
their business ability, and it is sup
posed they will show a common sense
of which their predecessors were ut
terly devoid.
"The supplies in all industrials has
given out" continued the archbishop,
"enterprising men are tired of idleness,
so that the country will now likely go
on to strong activities.
GAS to our own Northwest, besides
the general conditions of the country,
we have the hopeful sign of good crops
and high prices for our products. Men !
in the East look to the Northwest as
the most hopeful part of the country.
We of the Northwest do not estimate
to a sufficiently high standard our adj
vantages. This is the great agricul-
tural region of America. "a,
HILLS DEAL A GOOD THING. I
"The reorganization of the Northern
Pacific, which seems to be an assured
fact, will also be a great factor in
the prosperity of the Northwest and
OF its commercial center, the Twin
Cities. The Great Northern and North
ern Pacific must and will succeed. and
they cannot succeed without the Twin
Cities growing and developing to a
very large degree. have every conf
dence myself in our cities. Six weeks
ago stocks and bonds went begging
for a purchaser in New York. Now,
those who sold them or did not buy,
are angry with themselves. So will it
be in ST. Paul and Minneapolis in a
few months with those who now part
with their property at low prices.
ITO our property owners who have
held out so long through the late de-
preston" said the archbishop earnest ,
ly, 81 have no hesitation in saying
they should hold out little longer, IL /
possible, not selling at sacrifice, and
the time will come when their perse-
vering patience viii be rewarded"
The archbishop at some length gave
his views on the possible obstacles in
the way of good times.
among the possible impediments to
prosperity to which we may come"