The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-03
PROF. COIN AND HIS BOOK.
Eli Perkins ExpIodes Several of the
Little Mans Financial Theories.
Minneapolis Tribune.

Minneapolis Tribune.
'On my way through Chicago" said Eli
Perkins, who went through ST. Paul TO
the Pacific coast on the Northern Pacific
yesterday. II stepped into Professor Coins
school. This little man has been teaching a
financial school in Chicago for a year. His
teachings have finally been published in
book form, but | could never understand
what he was driving att
did you find out % asked the Tribune
Yes" said Eli 81 asked Coin point blank
If he was for free coinage
Yes he said, that Is what l teach
Now, CON- | said, what do you mean
oy free conage?
Coin was silent.
DO you mean by free coinage that YOU
want men or governments to go on coming
silver dollars as they do in China, Mexico,
japan, and Asia, not guaranteed by gold
where these dollars are only worth AZ cents
The same as bullion?
may as well have bullion. Such money when
coined is worth no more than commercial
par silver That wouldn't change matters
Then you want 1t fixed SO that any
man can take Al cents worth Of silver 10
Our nints "a piece as big as cur dollar and
awe 1t stamped 100 cents in gola?'
:. Yes, taat is what | want. mat is what
teacn III my book. / Want commercial
oar silver renlonesized. 1t has gone uorTn
say below l6 TO /: that is, sixteen ounces
OF silver are reaiiy worth, commercially
about half as inucn as one ounce or gold
Ae want al the silver dug and III the mines
put back tie came as the United States
collar, ~ to /. NO beating around the bush
Very we'll / said. Now we can reason
together how many people in the world
are using debased silver, or Accent dol
We'll. l,2oo.oOoooc This includes Next
co. Japan, South America, Africa. and
nu, many neo,le have mr. gold ,,nder
their coined si,ver.' / asked.
:. Why, said coin, only so9ooo, 900; This
includes the United states, England, France
Germany, Austria and Italy
How much have these half-civilized At
cent,dclIar nations ISL, iost2, | asked
lost half their wealth. If a man was worth
elCQo in Mexico or China. twenty years ago
ne Is worth SAT now. That is plain
Has any American. Englishman or
Frenchman-or any citizen of civilized ma
tions--,ost anything?
they haven't lost cent Our good gov
eminent has Put a gold dollar under every
same in England; German. Italy and
France, too. and COO civilized people
And the l.2o0 100000 haif-clvilized peo-
pie have lost half their wealth. you say?
. Tt would seem. So said Coin, scratch
ing something behind his ear
Now. Coin I said when | went
around the world last year, ] saw China
men. ana Japanese. and Mexicans. and
sAlFlcdss ldfiiiE Odi <Ait@SitIah SilNSA dOildTS
at par They called them worth 100 cents in
gold. They paid tea freights from China
with them, paid their passage to San Fran
cisco with them. and the bank of Hong
Kong and Shanghai took them the same as
greenbacks or gold. Do you think any one
on earth has lost a cent handling Ameri-
can dollars%
.N-n-no' stammered Coin.
Now Coin / said. look me in the eve
and answer this question. If the United
States had the free coinage you want-that
is. if every one could take piece of silver
as dig as a Mexican dollar to mint and
get a dollar with gold under 1t what would
be the result?
Coin was silent again.
wouldn't the Mexicans. Hindoos and
Chinese and the rest OF the half-ciyilized
nations bring their commercial dollars.
worth AZ cents, to mint and get one
dollar good as geld? Wouldn't ECO 900, 900
people unload the debased silver of the
world on us? Wouldn't we be bankrupt in
a year,?
II wasn't thinking of that said Coin.
trembling al the thought OF such a disaster
Il was thinking how much more money our
own silver mine kings would make. Their
wealth would be doubled, wouldn't IT,
Yes, Coin,' / said, and the price of
cent cotton would be doubled IL the gov
government has more right to boost IN
silver than il has to boost up corn and
coal and cotton and iron by selling biz
lions of bonds and giving those people the
proceeds 70 that they could rake big prof.
its until the pualc credit burst The gov
ernment Is 40 respecter OF persons The