The representative. [volume] (St. Paul, Minn.) 1893-1901, 1894-03-14
SILVER IN NEW ENGLAND.
Bimetallism Finds Powerful Ad.
vOcateS i'm the East.

Bimetallisn Finds Powerful Ad.
vOcates in the East.
The Outlook, one of the ablest and
most influential publications of its
class in the country, prints a strong
letter from President Andrews of
Brown University in favor of bimet-
allism, and lends unequivocal editOri-
al endorsement to the letter. The
letter and editorial notice are given
below. 1t is encouraging to the peO-
pie that their interests find fearless
friends in the very strongholds of
the money power:
''The fear that the free coinage of
the pr esent silver dollar, by several
nations even, would result in dol
lar not at par with gold is SO widely
prevalent that we most heartily well
come to our columns remarkably
clear letter from President Andrews,
of Brown University, showing in
what manner the worlds uncOined
silver bullion could be added to the
currency without producing anything
approaching Imitation. Indeed, we
quite agree with President Andrews
in his opinion that it would not, in
the long run, give to the world that
expansion of it's currency which it's
increasing commerce demands.
The same point was, on Saturday
last, put before the readers of the
New York Evening Post" by Presi-
dent Francis A. Walker, of the In
stitute of Technology. In reply to
the POSTS" attempted ridicule of the
idea that the government can make
silver circulate ''above it's market
value" President Walker replies
that no one proposes to make any
commodity circulate ''above it's
market value" but that bimetallism
proposes to influence the market value
itself. "That such an effect can be
produced" he says, "and that to an
enormous degree, no one but bigOt
now denies. Lord HerSchell's gold
and silver commission of 1868, COM
posed of six mOnOmetallists and six
bimetalliSts, unanimously signed the
proposition that it was the operation
of the French law of 1903 which, for
seventy years, maintained an approx
mate parity of gold and silver, at the
market ratio of Is 1-2 to |.
Whenever lalU sets on economic force IN
motion, 1t can and ariU and must effect
rdlues. That the French law of 1903,
by giving every debtor the option to
pay in either metal indifferently did
set in motion an economic force of
tremendous reach and scope, is now
freely admitted by every man on
either side of the Atlantic whose
opinion is entitled to the SLIGHTEST
consideration" Through President
Andrews and General Walker the
Bimetallic League of Boston is con-
Quoting campaign of education
which may bring the educated opin-
ion of the East, outside of purely
money centers, into harmony with
the prevailing sentiment in the West
and South
The following is President An
drews letter:
TO the Editors of The Outlook:
In paragraph favorably noticing
the organization recently formed in
Bost ton for the promotion of interna-
tional bimetallism, The Outlook for
February II expresses the view that
"were it an immediate question
whether the minis of three or four
great nations should be open to the
free coinage of fifty cents worth of
bullion into legal-tender dollars, they
[some members of the organization
would probably shrink from it, and
accept the opinion that it was dis
honest initiation" This statement
conveys an entirely erroneous impress
sion, implying that part of the gen.
tlemen leagued to promote interna
tiOnal bimetallism would deprecate
the immediate adoption of that sys-
TEN. No sentiment of such tenor
has been expressed in any meeting of
those gentlemen, nor has one of them
ever suggested the necessity or the
propriety of change in the ratio
between the metals when the nations
begin again the free coinage of silver.
All those gentlemen we'll know that
were bimetallic league formed, con-
tanning England and the United
States, the bullion in silver dollar
would be worth much more than fifty
cents before single silver coin could
be struck. Nor, phenomenally low
as the gold price of silver is, would
there be any danger that imitation
would follow international free coin
age, provided Great Britain were
party to this. Outside the Treasury
NAA