The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-07-20

@. What is tie fundamental ecnesrtscs
CT the free coinage Ssivccasese A. TIA
fae mount 81 zaoEey IN circulation h&a
been decreasing since TIE 3sraonetixa.io.
OF SILVER. and tsz1 this decrease hA.
caused general fat n prices
G. Is i trsse that the money supply ha.
oee1 decreasing 4 Il S nos-
G. What are the facess \. So far y.
the United States Is Concerned. there Ia.
been 7a enormous increase IN $50 shi
money - circulation in this country was
sss-ise. az n Is. L was s7sS IS SO: by n.
treasury eulissin az the beginning cf ths
present month Of July 81 was l.sse -. "a
q Wat does this show. A. II show:
tnat Cur money supply has increased -
per cent as compared wsth tSsa. and u
per cent as cors1ared with ls-1
- Has the Fno1ey supply incrca sed fast
e. than gae 2op0iafioas A. Very nucs
faster.
Q. How DO goa prove this A. BY IL
Ts6frg tire total money IN circulation a
eacn date BY the total population Of ths
country At the same date ard thus TrGins
She circulation per capita
G. what does SneA a process show
A The per capita circulation OF tks Unit
ed States on Jaly !. ISse. was Sis-ess on july
I. ISL IL was $lSTs. az the beginning o.
July IN fsSs Il was ss1l5-
@. But has net taa raorey supply Of The
world a. large been decresslngT A. Or
the contrary. y has been Increasing rap
Idly.
Q. How Is this provecs A. BY TIE sta
tistics OF the new gold production
q. How large has this production been
A. The reports OF the director OF the ralus
which are acknowledged authority. show
that from 1873 30 1924 Inclusive the worlds
total new gold production has been
sos So 500
q Is this new product OF gold sncreas-
Ing or eecreasingr A. II is increasing
with enormous raps3sty.
.. Give the figures. A In sS7s the
worlds gold production was s.; - 90. IN
1859 IN was sltss 10 $40 IN the year 1879 I,
was Sis.sss. zoe. In 1874 IL was slSa sd Ia.
For 1Sas the exact total is not yet COM
piled. but II Is closely estimated az sss9.-
80. ooa.
O. What does this mean, A. II means
thar the amount OF gold annually added
70 the worlds money supply has more
than doubled IN the last twenty-three
years.
@. Is not this annual rate OF production
liable 10 decreaSee a. On the contrary.
al experts in the American. Australian
and South African gold fields look for a
further and very heavy increase over the
present rate OF production.
Q. But has not the disuse Of silver With
full coinage privileges cut down the total
annual addition TO the worlds metallic
money supply? A. IL has not.
-. Why A. In 1873 the worlds gold
production was So SO eps. It's silver pro-
ductson S.. Se0 aoe; total, si1secoota. Last
year the production OF gold alone was
sle9, 500 Coz
@. was not the combined annual pro-
1uctlon Of gold and silver larger than this
in the bonanza days." A. 1t was rot.
Q. What was the highest record OF that
period? A. Between isss and 1850. the
worlds average annual production OF gold
was 1884, esS, GO. of silver. Sz7,sls. ooe; total
slsl. 10. 600. or less by 81. 600 than last
years production OF gold alone.
q. What are we 10 say. them OF the ar
gufnent that the money supply. since silver
free coinage was abandoned. has bean con-
traetingr A. That it is utterly false as
applied 70 the world az large. and espe-
ciaLy 50 as applied 20 the United States.
Q. Is IL true, nevertheless. that the price
Of wheat and many other farm products
has fallen heavily A. Il Is
Q. How are such declines. IN wheat for
instance. 10 be explained A. BY the
enormously rapid Increase in grain grow
Ing area throughout the world.
Q. Has this Increase been especially
rapid since 1922 A The Increase In grain
growing area IN this period. especially In
has never been approached in any equal
period In the history OF the world.
Q. How do We Judge OF actual compsti-
tioa in the sale OF whsatz A. BY the sup
plies thrown annually on the worlds great
distributing markets.
q. What market In particular, A. Eng
land. where most OF the buying nations
20 10 purchase their grain.
Q. What are the ngures7 A As recent
~ as isSa Great Britain imported. for con-
sumption and rs-export. <. -. s2i cwt- OF
wheat--a large increase over the preceding
annual average. In 1875 Il imported a.7as.
9s5 cvt.
q. What has made possible this remark
able Increase IN wheat production7 A. The
exceedingly rapid development of trans
portaticn facilities in newly cultivated
grain countries. among them India. Russia
and the Argentine Republic.
Q. Has there been an increase in the
United States ftself7 A. An enormous
Increase.
q. How large, A. In 1875 there were
n. 81. So acres OF wheat cultivated in this
country; IN 1891 there were 3s.sis ss7. an
fncrees sc OF 50 per cent The yieli In 1875
was - I2s. 0o0 bushels. n heavy increa Sc
over preceding years. IN 1891 the yield was
GIL 10 Oa. Even last year. with a greatly
reduced acreage and partial crop failure.
the Yield was 80. GO bushels
@. Has the yield Of other crops increased
corresponaiaglyg A II has.
q Give instances. a. The cultivated
area OF corn IN the United States in 1911
was q. sgI ts7 acres: In ISL Il wac IS - SIS :
Increase. ia per cent. The yield OF corn
last year was more than double that OF
any year prior 10 1916. Both the acreage
ard the average annual Yield OF oats have
doubled since 1871. Oar cotton crop In 1874
vas 80 per cent. greater than ia any year
prior TO 1857.
@. Was a decline in grain ard cotton
prices. under sach conditions, insvitabieg
a As inevitable as a decline in the price
OF CLOTHING. or furniture. or books. or steel
RI Is. or pins, when competition In their
manufacture has extended enormously.
Q. Would free coinage help the produc-
ers of grain 70 larger profit, under such
eoraitions7 A. Not In the least
O. Why neIg A. Becease If the nominal
price q grain were to rise through infsa-
ton Of the currency, the price OF every
thing else wouid rise also. and the farmer
would be relatively 10 better of than he
was before-
q. 10 the free coinage advocates use In
their speeches these stats IDEAL facts which
we have examined 4. They % not
@. Can the subject be understood with
whole question rests on these facts re-
gar1ing money and production
q WHY DO the free cosnage speakers not
use these facts ana figureS7 a. Because
the facts and figures are against them
@ Is there any dispute over tire truth
of The figures quoted IA these answers ?
a. They are unsssputed, even ~ free
coinage men. They are taken from me
reports % the United States treasury. II
the department. OF agriculture. os the H.
rector % tire United Stairs mint. OF sAe
T+rsteH States bureau ~ statistics. ard II