a bimetallist, and we will write a paper on "Bimetallism Simplified" showing how we can create a mono-bimetallic standard. The "mono" is the essence of Mr. Lepper's scheme; the bimetallic part of it is sophism and green cheese. In his argument Mr. Lepper simply proposes to measure gold _by itself_; and to measure silver _by gold_! That is all there is in it. He seems not to know that anything measured by anything other than itself is not primary money, and cannot be. Gold, when coined and made legal tender, is primary money when measured by itself. Silver when coined and made a legal tender is also primary money when measured by itself. Anything coined and made a legal tender is primary money when measured by itself. It is thus that Mr. Lepper creates a bimetallic system of money. He proposes to keep it up in the same manner. He simply assumes that gold is an unfluctuating, eternal standard, and that silver is a fluctuating, impossible standard. He agrees that silver may be used as money and even coined on a basis which assumes that it shall not be used as money and not be coined at all, except by the measure of gold! His factitious and absurd device is therefore not bimetallism, but monometallism on a basis of gold. He might substitute pewter for silver in his scheme, and it would be just as good; he might substitute putty or plaster of paris, and his plan would work as well. Such a scheme is not bimetallism at all. It is monometallism pure and simple. I have, in a private way, pointed out the fact to Mr. Lepper that his plan is not what it pretends to be. I have tried to show him that what he proposes is simply a delusion of goldite hocus-pocus. As a matter of fact, THE ARENA has not the space to be devoted to the dissemination of such literature as Mr. Lepper's article. I did not wish to subject the writer of "Bimetallism Simplified" to this castigation, but he would have it so. It is no doubt an entertaining business with Mr. Lepper to work his elaborate scheme for pretending to do a thing, and not doing it. Practically, I might urge upon his attention the fact that what he proposes will satisfy nobody; certainly it will not satisfy the McKinley administration. That administration does not propose to do _anything_. It proposes to stand still, in the midst of much bluster, hoping all the time that the gold standard will become more and more fixed on the American people, and that the "silver delusion" will subside.