of merchants and bankers, in fact all classes of business, were well represented. Journalists, however, predominated. Coin stepped on to the platform, looking the smooth little financier that he is, and said:
"I am pleased to see such a large attendance. It indicates a desire to learn and master a subject that has baffled your fathers. The reins of the government will soon be placed in your hands, and its future will be molded by your honesty and intelligence.
"I ask you to accept nothing from me that does not stand the analysis of reason; that you will freely ask questions and pass criticisms, and if there is any one present who believes that all who differ from him are lunatics and fools, he is requested to vacate his seat and leave the room."
The son of Editor Scott, of the Chicago Herald, here arose and walked out. Coin paused a moment, and then continued: "My object will be to teach you the A, B, C of the questions about money that are now a matter of every-day conversation.
THE MONEY UNIT.
"In money there must be a unit. In arithmetic, as you are aware, you are taught what a unit is. Thus, I make here on the blackboard the figure 1. That, in arithmetic, is a unit. All countings are sums or multiples of that unit. A unit, therefore, in mathematics, was a necessity as a basis to start from. In making money it was equally as necessary to establish a unit. The constitution gave the power to Congress to 'coin money and regulate the value thereof.' Congress adopted silver and gold as money. It then proceeded to fix the unit.
"That is, it then fixed what should constitute one dollar, the same thing that the mathematician did
