The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-07-23

Mr.. Preston. Director OF the Mint. Also
Receives Numerous Requests for In
formation - Circulars Embodying the
Fscts Sought by Isaaircss Being Pre-
pared st the Treasury Department
Questions Answered.
WASHINGTON, July e8-Secretary Car
isle has returned from his short vacation
and finds an enormous collection Of let
tsrs making inquiries with reference TO
the financial and currency question. Ths
secretsry's mail hes for months contained
good many inquiries Of this character,
but within the past few days they have
developed amazingly. These inquiries are
20 numerous and SO closely along the cur
rency line that the secretary gave direc
tion before leaving for the preparation Of
circular which would answer these ques-
tions. When it is put In the form which
he desires it can be sens In response To
the inquiries and thus not only save much
labor, but ut the same time convey much
moro information than would be practica-
BILE II the letters were answered individ.
ually.
G inquiries are coming not only 10 Secre-
sary Carlisle, but to other re presentatives
sf the administration, Is looked upon as
extremely encouraging In the evidence
which it offers that the people are desir
Ing information upon which TO base their
course in the coming election.
Prestos's Msu In Heavy.
Mr.. Preston, director of the mint. is
also In receipt of a daily growing mail
from all sections Of the country devoted to
requests for information on financial top
les. The questions cover every conceiva-
ble phase Of the currency problem and the
inquiries are Of ali shades Of political be-
lief. Most Of them want information
that can be easily furnished, such, for in
stance, as the total amount Of the coinage
Of the last fiscal year, the amount Of gold
and silver in circulation in the United
States, the present value of different
coins, etc. but many Of the questions arc
Of q moro abstruse nature and would tax
the officials to answer them properly.
The bureau is doing all II can to meet
the demand upon IL as an educational in
stitution, and Director Preston says he
could easily dispose of 10000 copies of the
last annual report OF his bureau, II he had
thSih 9irtElDutlOns n rhtntT AuttTtst-
ing showing Is the definitions which
Chairman Jones of the Democratic ma
sional committee gives to four frequently
used currency terms, also the definition
which Director Of the Mint Preston gives
to the same The four questions submit
ted TO both OF these gentlemen by the
Washington SH were as follows:
Questions and Answers
f.u a
silvery
2 What 10 meant by the ratio of 10
to 1.
s. What is meant by bimetallism?
T. What is meant by single standarts
gold or silver
The replies, placed side by side, sare gin
teresting. They are as follows:
1. What Is meant by the free coinage Of
silver!
Chairman Jones-Colnage Of silver with
out charge for mintage, just as gold is
now coined and silver was coined prior To
1873
Director Preston-The right of individ-
uals to deposit standard silver in any
amount at the mints, and have 1t coined
into full legal tender coins.
g. What Ia meant by the ratio Of l6 TO 1t
Chairman Jones--That there shall be
sixteen times as much pure silver by
weight in a silver dollar as there is pure
gold In q gold dollar The true ratio, that
in force just prior to 1873, Is a small frac-
tion under l6 to /, but IL is spoken of in
round numbers as Is ol.
Director Preston--The ratio In coinage
of Ia 10 | means that sixteen ounces of
pure silver coined shall have the sarno
value as one ounce Of pure gold coined
namely te061.
BimetaIlisn Defined.
g. What is bimetallisn! F0'i
Chairman Jones-We mean by bimetas,
lism the use II both gold and silver in
coinage at the same time ~ standard
money
Director preston-Ihs unlimited coin
age of both gold and silver, on private nc.
counI l.ata f.lll Lanai rend..r sains