The Coeur d'Alene press. (Coeur d'Alene, Idaho) 1892-1907, 1896-08-22
Brown University.

Providence, July "A. 1885.
Ny Dear Brown-I was delighted TO re-
csive your letter OF the sSh. and will en-
deavor to answer your questions in their
order as well as l can.
do.
believe Sc
do not think so. People would not
heard or export gold in face Of move
ment certain to cheaper gold. Il seems
to me rather likely that the rehabilitation
OF silver by Us would be the occasion OF
setting free vast amounts OF gold now
bearded for military and Other purposes.
= This is partly answered under the
last. Further. there would be no Influx OF
foreign silver. Undoubtedly free coinage
by Us would increase the total amount OF
silver produced. but the new silver could
not be mined at so low marginal cost
as at present prevails. The marginal
cost would on the contrary increase with
the output so that all tendency from this
source to lower the gold price OF silver
would be negatived. The very prolific
silver mines now are very few.
s Quite the reverse. After = possible
hrst shock our credit would improve after
free coinage. 1t IS our present course
which must speedily lower our credit.
How long could a man or a firm continue
ID have credit who borrowed each year
TO pay q large portion OF his running ex-
penses? Yet on a gold basis this course
Is inevitable. and that is al this moment
the reason why foreign lenders are shy
OF our securities. There must be a change
II We would avoid bankruptcy. With free
coinage every industry would look Up,
and even II We lost our gold. our prospsr-
lty would invite IN English capital just as
Japan's prosperity now causes II TO rush
there.
Never since slavery days has the press
IN the parts Of the country familiar TO me
displayed such disregard for truth and
such stubborn obtuseness to the most OBJ
vious considerations as It does at pres
ent on the silver question. This means
that the money power seated in London,
but with representatives in New York.
Philadelphia and Chicago. Is determined
70 continue the appreciation Of gold and
determined. therefore. that the facts shall
not be known. The bankers and the press
are almost entirely under its influence.
think the money question at the pres
ent time the great question Of civilization.
Yours with kIndesl regards.
E. BENZ. ANDREWS
Less than two years ago President An
drews was quite firm in the conviction
that 1t would be most unwise for this
country 10 reopen its minis to free coin
age Of both metals without European CO.
operation, but fuller stu-y OF the subject
has led him, Ike the late VI. CeruuschI.
and many other honest students OF this
subject. to the Inevitable conclusion that
the United States can solve the probe N
OF btmetallIsm single-handed, and that it
is the most pressing duty Of every patri-
ot!c citizen 10 aid In achieving that re-
suit In the present campaign by voting
for Bryan and Sewau.
The reasons given by President An
dIews for his present advocacy Of !nde-
pendent action on the part Of our govern
ment in this very important matter are,
in our judgment, absolutely unassa.lable,
and his high rank as an educator and a
political economist should give his letter
quoted above great weight in the pending
discussion Of the coinage question.
What he says about the mendac.ty Of
the eastern press controlled BY the money
power Is both true and timely. and 1t can
not be repeated too often or too yehs-
meutly.