The Globe-republican., 1896-08-27

/ @. What was the highest record OF
that period: A. Between 1856 and 1860
the worlds average annual production
of gold was 34,OS3 900; of silver, $37.-
61S.OOO; total, $171, 7O1 900. or less. by
81, SOC. 900. than last years production
of gold alone.
@. What are We to say, then. of the
argument that the money supply, since
silver free coinage was abandoned, has
been contracting? A. That it is utterly
false as applied to the world at large,
and especially SO as applied to the
United States.
@. Is it true, nevertheless, that the
price of wheat and many other farm
products has fallen heavily? A. 1t is.
@. How are such declines in wheat
for instance, to be explained? A. BY
the enormously rapid increase in grain
growing area throughout the world.
@. Has this increase been especially
rapid since 1872 A. The increase in
grain-gr0wing area in this period, es-
pecially in North America, South
America and Asia, has never been ap-
preached in any equal period in the
history of the world.
@. How do We judge Of actual COM
petition in the sale of wheat? A. BY
the supplies thrown annually on the
worlds great distributing markets.
@. What market in particular? A.
England, where most Of the buying ma
tons go to purchase their grain.
@. What are the figures? A. As re-
| Gently as 1880 Great Britain imported
for consumption and re-export, 55,261,-
924 hundredweight of wheat-a large
increase over the preceding annual
average. In 1895 it imported 81, 1926
hundredweight.
@. What has made possible this re-
markable increase in wheat production?
A. The exceedingly rapid development
of transportation facilities in newly
cultivated grain countries; among them
India, Russia and the Argentine Repub-
lie.
@. Has there been an increase in the
|
| increase.
@. How large? A. In 1875 there were
1851 So acres OF wheat cultivated IN
this country; in 1891 there were 49,
GIG, S97. an increase of so per cent. The
Weld in 1873 was 292, 136, 600 bushels, a
heavy increase over preceding years.
In 1891 the yield was Gil, 100000. Even
last year, with greatly reduced acre
age and a partial crop failure, the
| yield was 467 100000 bushels.
@. Has the yield Of other crops in
| creased correspondingly? A. 1t has.
@. Give instances. A. The cultl-
waited area of corn in the United
States in 1871 was 34,091 49, acres; in
| 1891 it was 76,204, SIS; increase, 124 per
cent. The yield of corn last year
| was more than double that OF any
year prior to 1875. Both the acreage
| and the annual average yield Of oats
| have doubled since 1871. Our cotton
crop in 1894 was 80 per cent greater
than in any year prior to 1887.
O. Was a decline in grain and cotton
prices under such conditions inevi-
table? A. AS inevitable as decline In
the price of clothing. or furniture, or
books or steel rails, or pins, when COM
| petition in their manufacture has ex-
| tended enormously.
O, Would free coinage help the pro-
| ducers of grain to a larger profit under
such conditions? A. Not in the least.
@. Why not? A. Because if the NOM
| iral price of grain were to rise through
imitation of the currency. the price OF
everything else would rise also, and
the farmer would be relatively no bet
ter off than he was before.
@. Do the free coinage advocates
use in their speeches these statistical
| facts which we have examined? A.
They do not.
O. Can the subject be understood
without examining them? A. 1t can
not. The whole question rests on these
facts regarding money and produc-
ton.
@. Why do the free coinage speakers
not use these facts and figures? A. Be-
cause the facts and figures are against
them.
@. Is there any dispute over the truth
of the figures quoted in these answers?
A. They are undisputed even by free
coinage men. They are taken from
the reports of the United States treas
ury, of the department of agriculture,
of the director of the United States
mint. of the United States bureau OF
statistics, and of the British board of
trade, all of them in their respective
spheres, the highest known authori-
ties.