Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1896-08-06
A SILVER CATECHISM.
he Detroit Free Press publishes the

The Detroit Free Press publishes tbs
following:
In my judgment an association of men
eminent in business and otherwise
should be formed in this city without
delay, whose duty it should be to write
or procure to be written, a large number
of tracts treating solely the question OF
sound money, to contain not more than
1000 words each. and to be printed In
large type and upon good paper. These
should be distributed, or be ready for
distribution by the middle of August,
and copies should be placed in the hands
of every wage-earner and farmer in the
state of Michigan.
They would best subserve the purpose
if drawn up in the form of a catechism,
of which l append specimen:
Q.-What is the fundamental conten-
ton of the free-coinage advocates?
A.-That the amount of money in cir
culation has been decreasing since the
decentralization of silver, and that this
decrease has caused a general fall in
prices.
els it true that the money supply
has been decreasing?
Alt is not.
Q.-What are the facts?
A.-As far as the United States is con-
cerned there has been an enormous in
crease. In 1860 the money in circula-
ton in this country was 42,1O2,477;
in 1872 it was $73S, 3O9,5 $40; by the
treasury bulletin at the beginning of the
present month of July it was 1,509, 1885,
200.
Q.-What does this show?
Alt shows that our money supply
has increased 24O per cent. as compared
with 1860, and 1O4 per cent. as COM
pared with 1872.
Q.-Has the money supply increased
faster than the population?
Avery much faster.
II $50
A.--By dividing the total money in
circulation at each date by the total
population of the country at the same
date, and thus finding the circulation per
capita.
Q.-What does such process show?
A.-The per capita circulation of the
United States ON July 1, 1860, was
at the beginning of July in 1896 it was
$2115.
Q.-But has not the money supply of
the world at large been decreasing?
A.-On the contrary, it has been in
creasing rapidly.
Q.-How is this proved?
A.-By the statistics of new gold pro-
duction.
Q.-How large has this production
been?
A.-The reports of the director of the
mint, which are acknowledged authority,
show that from 1873 to 1894, inclusive,
the worlds total new gold production has
been s., 1926, 1874 900.
Q.-Is this new product of gold in
| creasing or decreasing?
Alt is increasing with enormous ra-
pidity.
Q.-Give the figures.
Ain 1873 the worlds gold produc-
ton was $96,20O,0OO; in 1880 it was
| S1O6,436,S00. In the year 1890 it was
$11S,S49,0OO. In 1894 it was $3.50, $685.
100. For 1895 the exact total is not yet
compiled, but is closely estimated at
| $199, 100000
Q.-What does this mean?
Alt means that the amount of gold
annually added to the worlds money
| supply has more than doubled in the last
twenty-three years.
Q.-But has not the issue of silver
with full coinage privileges cut down the
total annual addition to the worlds me-
tallic money supply?
Alt has not.
| Q.-Why?
Am 1873 the worlds gold produc-
| ton was 500, 100000; it's silver produc-
| ton, $S1, 100000; total, $17S,0OO, 900.
Last year the production of gold alone
was $199,5OO,0OO