The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1907-11-08
Oil Fine Is Taken Seriously
Across the Waters.
THAT Is WHAT GOULD SAYS
Conditions In This Country Sound, and
People Need Have No Fear of
Outcome of FURRY.

New York, Nov. George Jay
Gould, returning on the steamer
Kronprincessin Cecilie, from six
months automobile tour of Europe
discussed freely the European view of
the recent financial crisis in this
country.
"Our credits are in bad way
abroad" said Mr.. Gould ''The people
of Europe received an awful scare and
they are still nervous and afraid of .oul
securities. But their view is all
wrong. Our country is alright, our
resources were never stronger, our
roads were never buster Industry
everywhere is humming. We have
simply got to get together and put
our shoulders to the wheel to re-
store confidence.
'In this connection, l want to say
something of Mr.. Morgan. He is a
trump and he has saved us from great
Disaster
Industrial conditions in America be-
ing in such good shape, Mr. Gould
was asked his opinion as to the cause
of the uneasiness in Europe.
81 believe, without hesitation," he
said shat the terrible sentence inn
posed upon the Standard Oil company
is the largest factor. To the people
of Europe the fine looks like practi-
cal confscation. They fear to put
their money in the big concerns with
the Standard Oil verdict dangling be-
fore them. The fine imposed by
Judge Lands has immeasureably hurt
us. The fright that gave investors
on the other side was tremendous.
"But as 1 say, the conditions in
this country are sound and we already
are ON the road to restored confidence.
The trouble is that our currency is
all out of Joint. 1t would be a
feather in Roosevelt's cap if he should
call an extra session of congress and
secure the adoption of much needed
currency reforms. Just what the
character of the new legislation should
be, l am not ready to say. l have
no pet plan of my own.
1--WE always have scarcity of
money in the fall and it has simply
been little worse than usual. Then,
too, there is a currency shortage all
over the world, and this has made
it bit difficult for us to get the
heavy supply of cash necessary to
move our crops.
''The recent scare was unwarranted
and will be overcome. In fact it is
overcome now. But the Standard Oil
sentence was one of those things
which always hurt the innocent peo-
pie. They have to suffer- l am in
clined to believe the people of Europe
were justified in their alarm. If one
corporation can be treated as was the
Standard Oil, the same thing might
happen to others and investors are
not anxious to sacrifice their money"
Asked if his railroads would con-
tinue their opposition to the 2-cent
laws in some of the states, Mr.. Gould
said:
at is Improbable to carry passen-
gers at so low rate, and in some
of the states we might better put the
cars away and close up the passenger
stations
As to the telegraph strike, Mr.. Gould
said:
'The strike was most i'll advised,
as the men have been quick to dis
cover. The operators had but re-
Gently received an increase in salary.
showing disposition on the part of
the Western Union to better their
condition as rapidly as circumstances
would permit.
"No, 1 have no concern over the
strike whatever. 1 would ordinarily
let it take its course through proper
channels, but as matters stand there
is absolutely nothing with which l
could concern myself if l were so
inclined"