The times. [volume] (Richmond, Va.) 1890-1903, 1896-07-19

The "Post" Continues Its instruction on
the Currency Question.


@. Where are the latest official figures
of the worlds gold production? \. In
the Mint Directors estimate FOR 1896
published last week. since this catechlsm
was lfsun.
@. What does this estimate show the
worlds present annual gold production
10 De? a. sZO.o001J, or Su,0O0Oog more
than IN 1855.
Q. Compare this total with previous
periods. A. The worlds average annual
production Of gold between 1870 and
1850, was Sll5Q3l,50J; Of silver s9l,S5l. 500.
total $2i5e39,o0J. or less by $1,000. 900 than
this years estimated production of gold
alone. AS lately as 1854, the worlds
combined production OF gold and silver
was less by Sl3OO00lO than its present
production Of gold alone.
q. Does this 500 10000 OF new gold
come freely into circulation? 4. II does.
q. How can you prove that fact? \.
by the annual coinage statements Of
the leading gold-producing and gold-im-
porting nations, all of which show a steady
increase. By the amount of ,Oii I'm the
worlds great repository banks. which
has increased with equal rapidly. These
are perfectly trustworthy signs.
q. is it not true that most OF the
new supply is "cornered" By the Roths-
chiids? A. There is not tho slightest
reason for supposing such a thing.
.. But II the worlds gold supply has
been increasing so rapidly. and is not
"cornered," why has IL grown harder
every year for our Government TO MANI
tain its own gold reserve? ~ Because
Of the free-sllyer-cOlnage movement ia
this country.
.. How can that movement affect our
gold reserve? A. First. by forcing so
much new silver and paper money into
circulation that nobody pays gold any
longer to the Government; second, by
the threat that tho free-coinage party
will redeem the Government notes and
bonds in silver only. which causes holders
OF the notes to present them now for
gold.
@. Why should such holders present
their Government notes for redemption
now \. For the same reason that
mado people in the old State-bank days
rush in for redemption the notes OF
bank that was likely 10 stop payment.
Q. Are there not other nations than
our own whose currency requires a large
gold reserve? A. There are.
.. What nations. for instance? A.
Germany, France. England.
Q. Do not these countries have the
same trouble with their gold reserve as
our Treasury does? a. Not I'm tho
least. The gold reserve in each OF these
three countries IS larger than necessary.
and constantly increasing
9. Why is their situation so different
from ours? A. Because there has been
no doubt Of the money standard In Ger
many, France, or England
q. But has not the United States al
ways had special trouble in getting gold
for its currency? A. Il has not.
@. When did Il get gold easily? 4.
Between 1884. when the gold standard
was adopted. and 1861. when paper money
was substituted. and the gold standard
abandoned.
q. Did gold flow IN readily at any
other period? 4. IL did.
@. When? A. After the resumption OF
specie payments by the United States in
1879, which was accepted by the world
as our readoption OF the gold standard.
Q. What followed that resumption Of
specie payments? \. Within two years
slli 900 gold was sent to US from Eu-
rope.
q. But surely this gold did not 20
into the Treasury? a. More Of II than
the Treasury needed went in.
q. How do you known that? A. As
early as September 10. 1879. the Secretary
OF the Treasury announced that gold
coin. beyond the needs OF the Government.
had accumulated In the Treasury" and