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

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, q 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 LOT
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
III drawn up in the form of "A catechism,
of which | append a specimen:
Q.-What is the fundamental contcn-
ton of the f~ree-coinage advocates!
A.-That the amount of money IN CIR
culation has been decreasing since the
demonstration of silver, and that this
decrease has caused a general fall in
prices.
Q.-Is it true that the money supply
has been decreasing?
Alt is not. .
Q.-What are the facts?
A.-As far az the United States is con-
cerned there has been an enormo IN
crease. In 1860 the money in circuln-
ton in this country was S442,l02,4lI;
in 1879 it was $73S,309,5 $40; by the
treasury bulletin at the beginning of the
present month of July il was Sl,J0J,I2 TO-
300.
Q.-What does this show?
Att shows that our money supply
has increased 30 per cent. as compared
with 1860, and 1O4 per cent. as com'
pared with 1872.
Q.-Has the money supply increased
faster than the population?
A.-Nery 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 at the same
date, and thus finding the circulation per
capita.
Q.-What does such n process showl
A.-Thc per capita circulation of the
United States on July |, 1860, was
S14.06; on July /, 1872, it was $3.50;
at the beginning of July in 1896 it was
$21.15.
Q.-But has not the money supply of
the world at large been decreasing!
A.-On the contrary, il has been in
c~reasing rapidly.
Q.-How is this proved?
A.-By the statistics of new gold pro-
duction.
Q.-How large has this production
been?
A.-Tbe reports of the director Of the
4 Illhts NlNtH art NhltN ltNEti dbilNllss
show that from 1873 10 1894. inclusive.
the worlds total new gold production has
been 50, 1874 900.
Q.-Is this new product of gold in
creasing or decreasingI
Alt is increasing with enormous ra-
pidity.
Q.-Giye the figures.
Ain 1873 the worlds gold produc-
ton was $96, DOG, 900; in 1850 il was
S1O6.43 500. In the year 1890 it was
$11S,S49,0O0. In 1894 it was S1S0,626,-
100. For 1895 the exact total Is not yet
compiled. but is closely estimated at
800, 100000.
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-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?
An 1873 the worlds gold produc-
ton was $96. 200,0 600: its silver produc-
ton, SS1, 100000; total, S1IS,000.O00.
Last year the production of gold alone
was $3.50, 100000.