The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1896-10-23
FOR FREE COINAGE,
Views Of President Andrews Of
Brown University.

NEW YORK. Aug. l5.-The World's
Denver tCol.) special says: The Rev.
Henry w. Pinkham. pastor OF the First
Baptist church here and friend OF
President Andrewso of Brown university,
recently wrote to Mr.. Andrews, asking
these questions:
1. Do you favor the free coinage OF
silver at the ratio OF 10 to by the
United States without waiting for aid
from other nationsy
2. Could the United States, having
adopted such free coinage, maintain the
practical parity OF the gold and the
silver dollar
3. Would not free coinage by the
United States alone lead TO complete
displacement OF our gold, Why noti
A. Would not the effect OF the recent
increased production OF gold as com
pared to silver be counterbalanced in
the event Of free coinage by the stimulus
thus given to silver mining and by the
influx of foreign silver
g. Would not the advantages OF free
coinage be more than negatived by the
injury TO our credit, thus causing
withdrawal OF foreign capitalf
In reply, President Andrews has
written:
MY Dear Pinkhsm-l was delighted
to receive your letter of the 9th, and
will endeavor to answer your questions
in their order as well as can.
81. i do.
80. / believe so.
20. do not think so. People would
not hoard or export gold in face OF
movement certain to cheaper gold. II
seems to me rather likely that the re.
Mobilization Of silver by US would be
the occasion OF setting free vast amounts
of gold now boarded for military and
other purposes.
"a. This is partly answered under
the first. Further, there would be no
influx of foreign silver. Undou btedly
free coinage by us would increase the
total amount Of silver produced, but the
new silver could not be mined at so low
a marginal cost as at present prevails.
The marginal cost would be on the con-
trary increased with the output, so that
all tendency from this source TO lower
the gold price OF silver would be mega
lived. The very prolific silver mines
now are very few.
- Quite the reverse After posi-.
BILE first shock our credit would improve
after free coinage. 1t is our present
course which must speedily lower our
credit. How long could q man or a
firm continue 10 have credit who Dor
rowed each year to pay a large portion
of his running expensesi Yet on gold
basis this course is inevitable, and that
is at this moment the reason why foreign
lenders are shy OF our securities. There
must be a change il we would avoid
bankruptcy. With free coinage every
industry would look up and even IL we
lost our gold our prosperity would invite
in English capital, just rs Japan's pros
perity now causes 1t to rush there.
Never since slavery days has the press
in the part OF the country familiar TO
me displayed such disregard for truth
and such stubborn obtuseness to the
most obvious considerations as it does
at present on the silver question. This
means that the money power seated in
London. but with representatives in
New York, Philadelphia aud Chicago,
is determined to continue the apprecia-
tion of gold. and determined therefore,
that the facts shall not be known. The
bankers and the press are almost en-
tiralv tindar ifs inflnanca I think fha
money question at the present time the
greatest OF civilization"
+. BENJAMIN ANDREWS.