Griggs courier. (Cooperstown, Griggs Co., Dak. [N.D.]) 1885-1902, 1896-07-24

pEOuuCGlOu udOl0 TO decrease.
A. On the contrary, all experts
in the American, Australian and
South African gold fields look for
afurther and very heavy increase
over the present rate of produc-
tion.
@. But has not the disuse OF
silver with full coinage facilities
cut down the total annual addi-
tion to the world S metallic money
supply? A. 1t has not.
| @. Why? A.. In 1873 the
worlds gold production was $780,
100000; it's silver production
S81.8o0,0oO: total. s178, 100000.
Last year the production of gold
alone was S199. 100000.
Q. Was not the combined annu-
al production of gold and silver
larger than this in the "bonanza
days? A. 1t was not.
@. What was the highest re-
cord of that period? A. Between
1856 and 1860. the worlds aver
age annual production of gold
was S134. Os3,OOO of silver. S37,-
618,, 900: total. S171.7O1,O00. or
less, by $27, 100000 than last
years's 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 con-
tracing? A. That it is utterly
false as applied to the world at
large, and especially so as applied
to the United States.
I @. Isl true, nevertheless, that
the price of wheat and many 9th
er farm products has fallen
heavily? A. tits.
9. How are such declines, in
wheat for instance. to be ex-
planned? A. By the enormously
rapid increase in grain growing
area throughout the world.
Q. Has this increase been es-
pecially rapid since 1872? A.
The increase in grain growing
area in this period, especially in
North America, South America
and Asia. has never been APP
preached in any equal period in
the history of the world.
G. How do we Judge of actual
competition in the sale of wheat?
A. By the supplies thrown annu-
ally on the worlds great distri-
buting markets.
@. What market in particular:
A. England, where most of the
buying nations go to purchase
their grain.
Q. What are the figures? A..
AS recently as 1880. Great Britain
imported for consumption and
re-export, IS, ,261, 924 cwt. wheat
"a large increase over the pre-
ceding annual average. In 1895
it imported 81, 1,749,955 cwt.
@. What has made possible
this remarkable increase in wheat
production? A. The exceeding
ly rapid development of trans
portation facilities in newly cul-
tivated grain countries; among
them India, Russia. and the Ar
gentine Republic.
@. Has there been an increase
in the United States itself? A.
An enormous increase.
9. How large? A. In 1875
there were 26,3S1,512 acres of
wheat cultivated in this country;
in 1891 there were 1885, ,897. an
increase of so per cent. The
| yield in 1875 was 292.136.0O0
bushels, a heavy increase over
proceeding years. In 1891 the
| yield was Gil, 100000. Even last
year, with a greatly reduced
acreage and a par tial crop failure
the yield was 467. 100, 900. bushels
@ Has the yield Of other crops
increased correspondingly? A.
It has.
Q. Give instances: A. The
cultivated area of corn in the
United States in 1871 was 24,091,
137 acres; in 1891 it was 6.204,
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 average annual yield of
oats have doubled since 1871.
Our cotton crop in 1894 was SO
per cent greater than in any
year prior to 1887.
@. Was decline in grain and
cotton prices, under such condi-
tions, inevitable? A. AS newt
able as a decline in the price of
clothing, or furniture. OF books,
or steel rails, or pins, when com
petition in their manufacture
has extended enormously.
@. Would free coinage help
the producers Of grain to a larger