The daily morning journal and courier., 1895-04-04
LECTURE ON BIMETALLISM,
EDWARD ATKINSON IN THE UNI- TERSTTT ExVENsIoN COURSE.

AA AhSAA T A<hA q COC fLS Es
 A History of the Question From the Earliest
 Times-The Origin of MOney-Discussior
 of Various Views-some Questions for
 Binn netaIlists.
 lecture on "Bimetaflisnl" was de- livered last evening at Warner hall bys MT. Edward Atkinson of Boston, under the auspices of the New Haven center of the University Extension.
 MT. Atkinson is a well known author- ity of national fame In his lines of thought. He was introduced by A.. Maxcy Hiller, and after allud1ng to the history of the use of money in its crud- est forms he spoke substantially as Rol- lows:
 We have had long and bitter strug- gle over the free coinage of silver, yet coinage had nothing whatever to do with the question at issue. Mr. Atluin- son said that he could never clear away the obscurity with which this enhieat has been clouded even by the concep- ton of coinage of what Is called bi- metalhsm, until he separated the con- ception of coinage from that of legal tender in his mind
 The conception of bi-metallists of the force by which money circuiates 1t entirely at variance with the conception of those who advocate the single stands ard or unite of value made of gold to which all other coins must be sub- sidiary, who are known as mono-metal4 lists. Suppose the written or statute law may possess great influence when exefted in acts of legaa tender, it is almost invariably a pernicious infiu- ence. From the dawn of monetary his- tory to the present time, decrees or acts of legal tender have been uttered or en- acted ither for the purpose of scaling down debts or for forcing debased coinage into continued circulation or for collecting a forced loan of which we have two modern examples in our own country.
 The arguments of bi-metaIlists are based wholly upon the quanttativs theory of money Lest it should be de- nied that the bimetallic theory rests wholly upon the force of legal tender one phrase from its ableet advocateg Henri Cernuchi, should be renlemberady His dictum is, "The metal is the body of money; the forced currency is it's soul"
 In 1860 this country was on safe and solid basis of the gold unite or standard of value. The people of the north were prosperous and we'll em- ployed, except for the dark shadow of the then impending conflict. In that wonderful work upon Prices and Wages" compiled by Commissioner Wright, under the orders of the senate, prices are established upon a unite of one hundred in 1860 and upon that unite of comparison we may trace both the influence of forced currency of the legal tender notes and a benefiS cent influence of return to the gold standard in such way that he who runs may read. There is one claim made by the reasonable men among the bimetallists which may be conceded it has any real ground or not4 It is alleged that if only coin made of gold is endowed with the force of full legal tender while silver in deprived of that force such an interference of law with the free choice of medium of payment will tend to create purely arr tificial demand for gold, making it rel& atively scarce, while at the same tim4 depressing silver.
 Whether or not this position is ten- able need not be considered because 1t Is a perfectly simple matter to con- cede free coinage at all mints and'full legal tender force to either kind of coin.
 Mr. Atkinson concluded his address with six questions which he has repeat- edly put to President Francis Walker 1f the Massachusetts Institute of Tech- lologN, which have never been answer ed.
 At the conclusion of the address some lime was occupied in the speaker ana ;wering questions on the subject asked oy various members of the audience. Mr. Atkinson illustrated his lecture by several charts, showing the difference II gold and silver value wages, and prices of commodities in the last few ears and showed by his comprehensive ak that he had made an exhaustive study of the subject.
 Ex-Congressman Warner, who was to be present, was unable to Cppear. Among the audience was not ced some of the most intelligent peo- ,le in New Haven, who seemed much pleased with the able discourse.