The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-07-30
FREE COINAGE CATECHIsM.
Questions and Answers Which Appeal
to the Understanding.

! From the New York Evening Post
Q. Where are the latest official figures
OF the worlds gold production? y. In
the Mint Directors estimate for 1896
published last week. since this Cate
chism was begun.
U. What does this estimate show the
worlds present annual gold production
to be? A. $220, ,O0O. 900, or $l7 ,OOO, 900 more
than in 1895.
q. Compare this total with previous
periods? A. The worlds average an
nual production of gold. between 1870
and 1880, was $ll5.OSl 500; of silver $9l.-
S57. $40; total SOC. .S39. 900, or less by $lS.-
OOO.OUO than this years estimated pro-
duction Of gold alone. AS lately as 1884
the worlds combined production of gold
| and silver was less by $l3.OOOO 900 than
| Its present production Of gold alone.
q. Does this $220 OOO, 900 of new gold
| come freely into circulation? A. 1t
T, does.
Z. How can you prove that fact? A.
BY the annual coinage statements of
the leading gOld-producing and gold
importing nations. all of which show u
steady increase. BY the amount of gold
In the worlds great depository banks.
| which has increased with equal rapidi-
ty These are perfectly trustworthy
| signs.
.. Is 1t not true that most of the new
supply is 'cornered" by the Roths-
childs? A. There is not the slightest
reason for suppoSing such thing.
q. But If the worlds gold supply has
been increasing so rapidly, and Is not
"cornered." why has 1t grown harder
every year for our government to main
tain its own gold reserve? A. Because
of the free silver coinage movement in
this country.
q. How can that movement affect our
gold reserve? a. First. by forcing so
much new silver and paper money into
circulation that nobody pays gold any
longer to the government. Second, by
the threat that the free coinage party
will redeem the government notes and
bonds in silver only, which causes hold
ers of the notes to present them now for
gold
q. Why should such holders present
their government notes for redemption
now? A. For the same reason that
made people, in the old state bank days.
rush in for redemption the notes of u
bank which was likely to stop payment.
z. Are there not other nations than
our own whose currency requires a
large gold reserve? A. There are.
Q. What nations. for instance? A.
q. Do not these countries have the
same trouble with their gold reserve as
our Treasury does? a. Not in the least.
The gold reserve in each of these three
countries is larger than necessary, and
is constantly increasing.
Q. Why is their situation so different
from ours: A. Because there has been
no doubt Of the money standard in Ger
many, France or England.
q. But has not the United States al
ways had especial trouble in getting
gold for its currency? A. 1t has not.
Q. When did 1t get gold easily? A.
Between 1884. when the gold standard
was adopted. and 1861. when paper
money was substituted and the gold
standard abandoned.
G. Did gold flow in readily at any
other period? A. 1t did.
Q. When? A. After the resumption
Of specie payments by the United States
in 1879. which was accepted by the world
as our readoption of the gold standard.
q. What followed that resumption Of
specie payments? A. Within two years