The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1896-08-08
A SILVER cATECHISM.

The Detroit Free Press publishes the
following;
In my judgment an association of men
eminent In business ana otherwise
should be formed in this city without
DELAY. whose duty IL should be 10 write
or procure TO be written, large number
of tracts treating solely the question or
sound money 10 contain not more than
1000 words each. and 20 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 subserye the purpose
II drawn uD in the form of catechlsm,
Of which | 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 general fan IN
prices.
Q.-Is II true that the money supply
has been dccreasingt
A.-lt is not.
Q.-What are the facts?
AIS far as the United States is con-
ccrned there has been an enormous in
crease In 1860 the money in circula-
tion in this country was S442, PAT;
in 1872 il was Sf3s, 3O0.540: by tina
treasury bulletin at the beginning OF the
present month of July IL was $1,000, TO-
300.
Q.-What does this show?
Alt shows that our money supply
has increased 30 per cent. ms compared
with 1860. and 1Oi per cent. as COM
pared with 1872
Q.-IIas the money supply increased
faster than the population!
Avery much faster.
Q.-llow do YOU prove this?
A.-By dividing the total money in
circulation NJ 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.-Ihe per capita circulation of the
United States on July /. 1860. was
$l4.O6; on July 1. 1872, il was $lS.T0;
az the beginning of July in 1896 il was.
Q.-But has not the money supply OF
the world at large been dccreasingg
A.--On the contrary, il has been in
creGsing rapidly
Q.-Ilow is this proved?
A.--By the statistics of new gold pro-
ducton.
Q.lIow large has this production
becny
A.-The reports Of the director Of the
mint. which are acknowledged authority,
show that from 1873 TO 1891. inclusive,
the worlds total new gold production has
been S2,j2G, S31. 800.
q. lis this new product OF gold in
creasing or decrcasingg
Alt is increasing with enormous ra-
pidity.
Q.-Giyc the figures.
AIN 1873 the worlds gold produce
ton was 500 100000 in 1880 il was
SlO6,136,S00. In the year 1890 il was
Sl1S,Si9,00O. In 1891 IL was $1S0G26,-
100. For 1895 the exact total is not vet
compiled. but is closely estimated at
$l99JOO.000.
Q.-What does this mean?
Alt means that the amount OF gold
annually added 10 the worlds money
supply has more than doubled In the last
twenty-thrce years
o.-B.t has moi tine Issue OF silver
with full coinage privileges cut down the
total annual addition TO the worlds me-
tallic money supplyg
Alt has not.
Q.-Wh-?
An 1873 tho worlds gold produc-
ton was $0G, 100000. It's silver produc-
ton. SS1, 100000: total. SiTS.0OOO 600.
Last year the production of gold alone
was sos. 100000.