The Londonderry sifter. (South Londonderry, Vt.) 1883-19??, 1896-07-24
Instructive Answers to Questions On
rverybody's Lips.
N. Y. Evening Post.


tons and answers is to put, in sim
pie form, the problems raised by the
free coinage controversy, with a plain
answer to each. All statistical facts
given are transcribed from official
publications, and list of all author
tiles used is published at the end OF
the Catechism.
@ What is the fundamental claim
of the frce-coinage advocates They
claim that the amount of money in
circulation has been decreasing since
the characterization of silver, and that
this decrease hes caused general
fall in prices.
Is it true that the money supply
has been decreasing ? A. 1t is not.
@. What are the facts ! A. So
far as the United States is concern
ed, there has been an enormus in
crease. In 1860 the money in circu-
lation in this country was SLAP, 1922
AT; in 1872 it was $738, 1909, $40 by
the treasury bulletin at the opening
of the present month it was $l,52l,
5S4,2S3.
@. What does this show ? A. 1t
shows that our money supply has in
creased 240 per cent, as compared
with 1860, and LOG per cent. as COM
pared with 1872.
@. Has the money supply in
creased faster than the population
A. Very much faster.
@. How do you prove this ? A.
BY dividing the total money in circu'
lation at each date by the total popu-
lation of the country at the same
date, and thus finding the circulation
per capita.
|. @. What does such process
show A. The per capita clrcula-
ton of the United States on July l,
1860, was S1406; on July l, 1872,
il was SIS 20; at the opening of the
present month in 1896 it was S2l.35
@. But has not the money supply
of the world at large been decreasing
A. On the contrary, it has been IN
creasing rapidly.
@. How is this proved ? A. By
the statistics of new gold production
@. How large has this production
been :? A. The reports of the dlrec-
tor of the mint, which are acknowl'
edged authority, show thatfrom 1873
to 1894 inclusive the worlds total
new gold production has been So
526.S34, 900.
@. Is this new product of gold
increasing or decreasing A. 1t is
increasing with enormous rapidlty.
@. Give the figures. A. Ii
1873, the worlds gold production
was $50, 100000; in 1880 it was
S106, 436,S00. In the year 1870 II
was Sl1S,S49, 900. In 1894 it was
$3.50, 626,l00 In 1895 the exact to-
tai is not yet compiled, but it is close
" estimated at s199, 100000.
@. What does this mean A. Ii
means that the amount Of gold an
nually added to the worlds money
supply has more than doubled in the
last twenty three years.
@. Is not this annual rate OF pro
duction liable to decrease F.! A. Ol
the contrary, all experts in the Amer
lean, Australian and South African
gold field look for u further and very
heavy increase over the present rate
of production.
@. But has not the disuse OF sill
YER with full coinage facilities Gu
down the total annual addition to thu
worlds metallic money supply F! A
1t has not.
@. Why A. In 1873 TIT
worlds gold production was S96, 200,
600; its silver production SSl 800,
600; total, SITS, 100000. Last yea
the production of gold alone wa
S199, 500, 900.
@. Was not the combined annua
production of gold and silver large
than this in the "bonanza days 2
A. 1t was not.
@. What was the highest RECORD
of that period A. Between 1885,
| and 1860, the worlds average anhua
production of gold was $134, OS3,0
of silver, S37,6l8,00O; total, SILL,
/ FOL COO, or less, by S27 100000 thai
last years production of gold alone
@. What are we to say, then, 0
the argument that the money supply
since silver free coinage was aban
/ doned, has been contracting A
That it is utterly false as applied t
the world atlarge, and especially s.
as applied to the United States.
@. Is it true, nevertheless, tina
the price of wheat and many othe
farm products has fallen heavily
A. 1t is.
@. How are such declines, il
wheat for instance, to be explained
A. By the enormously rapid in
crease in grain growing area through
| ont tho world.