The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1896-08-18
MONEY QUESTION
IN A NUTSHELL
straightforward Questions and An
SWerS on the Political
Situation.
HE WHO RUNS MAY READ
Aoasy Of the united States largely Ia
eraSed-kOrld'S Production OF
Gold Is Enormously
Enlarged.
From cold or silver -

From cold or Silver"
The purpose Of this series Of ques
tious and answers is to put. in simpl,
form. the problems raised by the free
coinage controversy With a plain an
swer to each. All statistical facts giver
are Transcribed from official puhlica
tions, and list OF all authorities uset
Is published at the end Of the Cate
chism.
Question-What is the fundamental
claim OF the free-coinage advocatesg
Answer-They claim that the amount
OF money in circulation has been de.
creasing since the decentralization OF
silver. and that this decrease has caus-
ed a general fall in prices,
OILS it true thar the money supply
has been decreasing?
Alt is not
Q.-what are the factss
A.-So far as the United States is
concerned. there has been an enormous
increase In 1850 the money in circu-
lation in this country was s44s. l02, Al;
in lS72 it was s5SS. SOs,SIs; by the treas
ury bulletin at the opening Of the pres
ent month. It was Sl.Ssl. l.sS4.2SS
o.-what does this show?
Alt shows that our money supply
has increased 40 per cent as COM
pared with 1860. and lOs per cent as
compared with 1879.
o.-Has the money supply increased
faster than the population?
Avery much faster.
o.-How do you prove this?
A.-By dividing the total money in
circulation at each date by the fetal
population at the same date, and thus
finding the circulation per capita
Q.-what does such a process show?
A-The per capita circulation OF the
United States on July l. 1850 was s14O6;
on July /. iS72. it was $3.50; at the
opening OF the present month in 1896
it was s2LsS
o.-But has not the money supply OF
the world at large been decreasing?
A.-on the contrary. it has been in
cressing rapidly.
Q.-How is this proved?
A--By the statistics Of new gold pro
duction.
o.-HOw large has this production
been?
A.-The reports Of the Director Of
the mint. which are acknowledged ay-
thority, show that from 1873 to 1894 in
elusive the worlds total new gold pro-
duction has been S2,526.SS49OO.
Q-Is this new product Of gold in
ereasing or decreasing?
Alt is increasing with enormous
rapidity.
Q.-Give the figures.
AIN 1873 the worlds gold produc-
tion was Sss, ,2co. 900; in 1880 it was SlOs,-
4Ss.S0O; in the year 1890 it was Sis. .s49,-
900; in lSsi it was Sls0,626. 100; for the
year 1895 the exact total is not yet COM
piled, but it is closely estimated at
s1ss. 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.-Is not this annual rate Of pro-
duction liable to decrease?
A.-On the contrary, all experts in the
American, Australian, and South AZ
rican gold fields look for 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 1873 the worlds gold produc-
ton was $4,000. 900; its silver produc-
tion sS1.sOO 900; total. S17s, 900. Last
year the production Of gold alone was
$19s, 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
S134,OS3,OOO; of silver, 3a761sOOO; total,
$171,7O1,OOO, or less by $27,sOO, 800 than
last years production Of gold alone.
Q.-What are we to say, then Of the
argument that the money supply, since
free coinage was abandoned, has been
contracting?
A.-That II is utterly false as applied
to the world at large, and especially so
as 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,
for instance, to be explained?
A.-By the enormously rapid increase
in grain-growing area throughout the
world
Q.-Has this increase been especially
rapid since 1872?
A-The increase in grain-growing !
area in this period especially in North
America, South America, and Asia, has
never been approached in any equal
period in the history Of the world.
Q-How do we Judge Of actual com
petition in the sale Of wheat?
A.-By the supplies thrown annually
on the worlds great distributing mar
kets.
Q-What market in particular?
A.-England. where most Of the buy
ing nations go to purchase their grain.
Q.-What are the figures?
A.-As recently as 1880, Great Britain
iunDOrtpd for copgurpptfon and -, 90.