The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-05-27
A PRELATE AGAINST SILVER.
Archbishop ireland sees the FaIIacy
of the White Metal Pleas.

Chicago, May 26-Archbishop Irelaui of
St Paul returned yesterday from a trip
to the east and left al O'Clock last night
for his home
Inc archbishop was asked what might
prevent the tide Of prosperity. evidently
now just setting in, from reaching its
greatest hight, and in his reply TO the
question he fully defined his position on
the silver question. He said: THE present
silver agitation might check the period
OF prosperity, which it seems is about
setting in for US. 1 speak advisedly. af-
ter reflection, and feeling that I may be
criticised for what 1 say. But it is the
truth, and what does it matter whether
/ say 1t now or later
Without entering into the merits OF
the intricate and difficult questions in
VOWED in discussion of the silver phase
or craze, l would say that so long as there
Is no International agreement between the
great governments of the world-the COM
mercial natious-an attempt on the part
OF the United States to return to free
coinage OF silver would be fatal to our
business prosperity
The United States is largely a bor-
rowing nation. A new country I'M
developed is necessarily a borrower
OF the older nations, and that must posi-
lively be taken into consideration when we
lightly speak Of changing the form of our
financial basis. 1t is out of the question
that we by ourselves can create a silver
basis to be accepted by the balance of the
world, willy nilly. We are an integral
part of the general commercial world, ex
tending over every continent, and what we
propose or what is proposed by those who
favor silver IS only feasible on the sup
position that the whole commercial world
agrees with us to accept a bimetallic stand
ard
What we borrow we must receive from
abroad, and the foreign capitalists will NOT
invest in our millions of securities If they
are to be paid back for their advances in
silver when they can buy the
bullion of that metal at Soc
They simply will not do it, and it is an
absurd folly to imagine that we can com
pei them to do so. 1 have said that we
are necessarily one part of the CONNER
cial world, and whether we like il or
not, we must harmonic with the other
parts of that world, far outnumbering us,
and If we do not, we alone must bear the
consequences. We can only hope to MAIN
tain our prosperity by maintaining with
them a cordial aud honorable entente.
This to me is the simplest phase of the
silver question. 1t is the easiest way of
considering what we should and should
no do. The way is very plain and clear.
We are in no position to stand aloof nor
to restore confidence in our business insti-
tutions, except by agreeing, as we have in
the past. as to our financial basis in the
marts of the world where we meet all
that is in competition with us, and all of
which will positively refuse to accept our
proposed silver basis as that of the whole
world. I do not see how there can be any
question of the fact involved In my state
,F lar Of hot
cial world toward US, from whom we must
borrow money If we desire to advance and
to attain the eminence, which it appears
we should have with wisdom on the part
of our rulers and prudence in the po-
! litical action of our people,