Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1896-08-08
A SILVER CATECHISM.

The Detroit Free Press publishes the
following:
In my judgment an association of men
eminent in business and otherwise
should be formed in this city without
delay, whose duty ii should be TO write
or procure to be written, a large number
of tracts treating solely the question OF
sound money, to contain not more than
1000 words each, and To be printed IN
large type and upon good paper. These
should be distributed, or be ready ioI
distribution by the middle of August,
and copies should he placed in the hands
of every wage-carner and farmer in the
state of Michigan.
They would best subServc the purpose
If drawn up in the form of a catcchlsm,
of which | append Il specimen:
Q.-What is the fundamental contcn-
ton of the free-coinagc advocates!
A.-That the amount of money in cir
c~ulation has been decreasing since the
characterization of silver, and that TINS
decrease has caused a general fall III
prices.
Q.-Is it true that the money supply
has been decreasing?
At is not. -.
Q.-What are the facts?
A.-As far as the United States is con-
ccrned there has been an ormou in
crease. In 1860 the money in circnla-
ton in this country was S412, lo2,4Li;
Ill loI- IL was GtpD,b''''f' ~ 'hN
treasury bulletin at the beginning of the
present month of July it was $l,5O9, TO-
300.
Q.-What does this show?
Alt shows that our money supply
has increased 30 per cent. rs compared
with 1850. and 10i per cent. as com
pared with 1872.
Q.-Has the money supply increased
faster than the population?
Avery much faster.
GLOW do you prove this?
A.-By dividing the total money in
circulation at each date by the total
population of the country mt the same
date. and thus finding the circulation per
capita.
Q.-What does such n process show
A.-Thc per capita circulation of the
United States on July |, 1850, was
S1i.0G; on July |, 1872, il was $3.50;
AT the beginning of July in lS6 it was
$21.15.
O.-But has not the money supply of
the world at large been decreasing?
A.-On the contrary, it has been in
c~rcasing rapidly.
GLOW is this proved?
A.-By the statistics of new gold pro-
duction.
Q.-How large has this production
been?
A.-Thc reports of the director of the
mint, which are acknowledged authority,
show that from 1873 to 1894, inclusive,
the worlds total new gold production has
been 1920, 1874 900.
Q.-ls this new product of gold in
c~reasing or decreasing?
Alt is increasing with enormous ra-
pidity.
Q.-Give the figures.
Ain 1873 the worlds gold produc-
ton was 500, 100000; in 1880 it was
S1O6.4 36, 500. In the year 1890 it was
$~11S,Si9,0OO. In 1894 it was S1S0.626.-
100. For 1895 the exact total is not yet
compiled, but is closely estimated ut
$1g9, 100000.
Q.-What does this mean?
Alt means that the amount of gold
annually added To the worlds money
supply has moro than doubled in the last
twenty-three years.
Q.-But has not the issue Of silver
with full coinage privileges cut down the
total annual addition TO the worlds me-
tallic money supply?
Alt has not.
Q.-Why?
Am 1873 the worlds gold produc.
ton was Sg6. DOC. 900; it's silver produc,
ton, $S1, 100000; total, S1IS.0OO.0O q
Last year the production of gold alone
was $199, 100000.