The E-Sylum:  Volume 7, Number 1, January 4, 2004, Article 13

ABRAM PIATT ANDREW

And speaking of Andrew, there is a short biography of him
at http://www.ku.edu/carrie/specoll/AFS/library/APAbio.html,
which was taken from the National Cyclopedia of American
Biography and updated by his sister. Some excerpts:

"Mr. Andrew predicted the panic of 1907 in an article
published in the New York "Journal of Commerce" on Jan. 1,
1907."

"In August, 1909, Pres. Taft appointed him director of the
mint, and during the year of his administration the organization
of the several mints and assay offices was radically overhauled
and the number of employees reduced by more than 530 from
a total of 1,300, thereby accomplishing an annual saving of
more than $320,000. In June of the following year he became
first assistant secretary of the treasury, resigning in July, 1912."

His numismatically-related writings include "Hoarding in the
Panic of 1907" and "Substitutes for Cash in the Crisis of 1907."
The latter is a great reference listing more than 200 substitutes
for money used at that time, which we now generally refer to as
1907 Clearing House Certificates.

Andrew's work has influenced later writings on the subject,
such as this 2002 article from the University of Missouri -
St. Louis: http://www.umsl.edu/~nabe/buol1.pdf

  Wayne Homren, Editor

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