The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-09
How Educational and Church Work
Would BE Affected if the PopO-
Gratis Had Their Way.
INDIANA POLITICAL NEWS
SECOND OF THE JOINT DEBATES be-
TWEEN HARDY AND MIERs.
The SentinePs "Strunge Vision" a
FaIxe-Congressman HanIy at Col
faX-Campaign Rallies.

On Saturday the Indianapolis Sentinel
printed the following paragraph under
Madison, Ind, date:
A committee acting for the local Bryan
free-slver club, has extended an invitation
to President Fisher. of Hanover College, to
Tsbar ne enanfIY daIiyered most
excellent address in favor of free silver in
the town hall of Hanover, and his many
friends are anxious to hear him address
larger audience. He has been a lifelong
Republican, but openly declares in favor
of the Chicago platform, and says he con-
siders it part of his duty TO use his in
nuence toward q successful result of the
election of Mr.. Bryan AS the fall term of
week, the local silver club will be fortunate
if President Fisher can spare the time Tor
an address to it's many members. 1t is re-
ported that in case President Fisher con-
sents to address the club, notice will be
sent all prospective students come and
hear the address of their popular preSi-
dent.
In the Journal of Monday DR.. Fisher de-
| nounced this statement as a "monstrous
| falsehood" adding: MY views have been
| published, and remain they WERE The
| statement alluded to by DR.. Fisher ap-
peared in the Madison Courier of Aug. 4.
| A reporter for that paper asked Dr. Fisher
| if he had any objection to making public
| his views upon the money question, to
which the Doctor replied:
NO provided you say that I speak not
| as a partisan, but as one who believes that
| the welfare of the country Is Just now
| hazarded. As the president of one of our
| highest institutions of learning, l am
How is that? How does the matter es-
| pecally concern the colleges was asked;
Because our funds are nearly all loaned
upon mortgages that run for several years,
| as rule. 1t under free coinage the value
| ceded by men of all parties to be the in
| evitabe result-our Incomes, IS colleges,
ayfa of tha
| an income of $4,000 per year from invest
| ment of our enjoyment at the presemd da6
| if the deprecia ton amount to 80 per cent.
How most of our colleges could so on un-
| der these circums tanceS is not apparent.
| OF course, slowly the rate of interest
| would be advanced, but under existing law
| which, under the depreciation, would
| be only worth about per cent. at the
| that there would be just so per cent: depre--
| citation. No man knows the exact extent
of it. but the tendency. in all probability;
| silver in the coined dollar
WHO WOULD SUFFER.
.If the colleges continue their work under
| these conditions, on whom must the depre-
| citation fall?''
"On the teaching force and on the other
| employees of the institution, down to the
| janitor poorly paid as most of them are
| even now. All salaried employees of every
them the burden must remain. All our OIL
der citizens. who remember the deprecated
| currency of the war. will at once under
| stand this. Salaries re slow to advance at
| all, and never did advance in anything like
| the proportion Of the depreciation. Next
| to them, | think, the man who depends
| his wages would suffer most for a time, un-
til business enabled employees to increase
| the pay. People with small incomes from
| invested funds, widows, orphans, pension
ers of all sorts. like colleg y, would be able.
| with difficulty, to make ends meet, If they
could do it at all. College people could
| hope for little relief inside of long years.
You say that college funds are largely
| loaned on real estate security, especially
| farms. Do you think that these farmers
and others want to pay in deprecated
Il am Ioath to think so. AS rule. farm
ers are bred to honesty. | am sure that
| these debtors to the colleges have no rea-
| son to complain of their treatment. Money
| is loaned to them on long time. Renewals
| are easily obtained if interest is paid.
! Foreclosure is always avoided if it is pos
| sitle, without violation of trust. Colleges
| do not want land, and are not land sharks.
| / should be sorry to think that such debt
| ors would entertain the idea Ct legally les.
| sening the amount of their obligations by
| a deprecated currency. Of course there
| are always some men who will get out of
payment even dishonesty, if they have
chance"
| borrow on mortgage from colleges there is
no great disposition to fan In With with the de-
| "As to this have no direct informant don.
| But / have not yet lost faith in the Amer
| lean farmer or in the mass OF the Amer
| iCan people so far as to believe that If they
| are shown what is right and honest they
| will go against it. have seen a good many
triunnphs of the popular will for right
| eousness among these, slavery and the
| spoils system in office, and l know no rea-
| son to doubt the rectitude of the popular
| decision the money question, If light is
| diffused in the proper way. Confidence in
| the people is the cornerstone of our govern
| ment The danger is that blinded and ex-
cited by bad times and low Iriees. the
| masses should not wait to see before they
act. -x...1~
How would the proposed free coinage
of silver affect the benevolent ard mission
ary operations of the churches2
| 1T is a pity that such a question needs
! to be asked So far as possible, let us keep
| craftsmanship away from our church affairs.
| But in this case it would be folly to
look ahead. l. am afraid, let say,
therefore, that the result would be dis
astrous. There is likelihood that con-
tributions would increase in proportion to
the depreciation of money. Curtail-
| ment of salaries reduction in the number
/ istry, and to their widows and orphans
must follow. Foreign missions would he
likely to suffer most of all. All moneys
transmitted TO the countries in which our
foreign missionaries are laboring are, as a
rule. in the shape of exchange in London.
That, of course, means that 1t must be
sent abroad in the equivalent of gold. If
our contributions are made in silver ex-
change in gold al heavy premium would
reduce them so enormously that ] shrink
from an estimate of the effect. I say all
this with the proyiso that until the expert
ment OF free coinage IS tried no man
judge by great economic principles that
are recognized as scientific. and by the ex-