The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1896-08-15
THE CATECHISM
AS IT IS NOW
straightforward Questions and An
SwerS on the Political
Situation.
HE WHO RUNS MAY READ
AOasy Of the raited States Largely In
ereassd-korid's Production OF
Gold Is Enormously
Enlarged
HE WHO RUNS MAY READ
From Gold or Silver. "

From Gold or Silver"
The purpose Of this series OF ques.
ilons and answers IL % put. In simple
form. the problems raised by the free.
coinage controversy with a plain an.
awcr TO each All statistical facts given
are transcribed from Official publica.
tionA. and n list of all authorities used
IN published At the end Of the Cate
chism.
Question what is the Fundamental
claim Of the free-eoinage advoeates1
Answer--They claim that the amount
Of money IN circulation has been de-
creaAing since the demonetiEation OF
silver. and that this decrease has caus.
cd a general fail In prices.
o.--is II true that the money supply
has been decreasing
Alt IL not.
Q.--what are the facts?
A.--so far as the United States Il
concerned. there has been an enormous
increase, In 1850 the money in eircu.
lAtlon In this country was sitl.i Al
In 1879 It was t7Ss. 800, ,54s; by the treas.
ury bulletin at the opening OF the pres
cnt month Il was 1851. .ssL2s3.
Q.-what does this shown
Alt shows that our money supply
has Increased 40 per cent a. com
pared with 1860, and lOs per cent Al
compared With is7?.
o.-Has the money supply increased
faster than the population?
Avery much faster
Q.-How do you prove this?
A.-By dividing the total money In
circulation at each date by the fatal
population at the same date. and thus
nnding the circulation per capita.
Q.-what does such a process show :
A.--The per capita circulation OF the
United States on July /. 1860. was iiAo6;
on July /. 1879. II was ilS.T0: at the
opening Of the present month In 1896
Il was S2l3S
o.-Dut has not the money supply Of
the world at large been decreasing?
A.-on the contrary. II has been in
creasIng rapidly.
Q.-How is this proved?
A.-Ey the statistics OF new gold pro-
duetlon.
o.-How large has this production
been?
A.-The reports Of the Director OF
the mint, which are acknowledged au-
thority show that from 1873 TO 1894 In
elusive the worlds total new gold pro-
duetion has been s2.526s3ISOO.
o-Is this new product OF gold In
creasing or decreasing?
Alt Is increasing with enormous
rapidity,
o.-Give the figures.
Ain 1873 the worlds gold produc-
ton was 500 zoo, 900; In 1850 1t was ;lOe..
4S6, 500; in the year 1890 It was slls, s,sls.-
900; In 1894 II was $3.50. O.s2s. 100: for the
year 1895 the exact total is not yet COM
piled, but II is closely estimated at
slss. 800. 900.
o.-what does this mean7
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.-Is not this annual rate OF pro-
ductlon liable to decrease?
A.-on the contrary, all experts in the
American, Australian. and South AZ
rlcan gold fields look for a further and
very heavy increase over the present
rate OF production.
Q.-But has not the present disuse
Of silver with full coinage facilities cut
down the total annual addition to the
worlds metallic money supply
Alt has not
Q.-Why?
AIN 1878 the worlds gold produc-
tlon was 500. 100000; its silver produc-
ton sSl,S0o,0 900; total. $17S,000.0O Last
year the production Of gold alone was
slss. 100000.
Q.-Was not the combined annual
production OF gold and silver larger
than this In the bonanza days?"
Alt was not
Q.-What was the highest record Of
that period?
A.-Between 1856 and 1860 the worlds
average annual production OF gold was
slS4. 4.0Ss,OOO; OF silver, sS7,6lS,0OO total,
sl71 900, or less by $27,S0O,SOO than
last years production OF gold alone,
Q.-What are we to say, then OF the
argument that the money supply, since
tree coinage was abandoned. has been
A.--That II is utterly false as applied
10 the world at large, and especially so
IS applied to the United States.
Q.-It is true, nevertheless. that the
price of wheat and many other farm
products has fallen heavily?
Alt Is.
Q.-How are such declines, In wheat,
'or instance, to be explained?
A.-By the enormously rapid increase
n grain-growing area throughout the
yorid