The Breckenridge news. (Cloverport, Ky.) 1876-1955, 1897-07-14
Gold and Prosperity.
tFrom the Louisville Post.l


In the Louisville Dispatch, which is
just now appearing in the role of Mrs.
Darlington in an effort to sweep back the
waves OF prosperity, we find much to il
lustrate the lack OF information on which
faith in free silver rests 30 serenely. In
a recent issue it says:
"While the goldbugs are talking
about the increased production of
gold, they forget that there has been
an increased production of people,
and that the population and business
of the United States are growing fast
er than the supply Of gold"
The per capita theory, the idea that
the financial question turns on the
amount of money each person has allot-
ted him by the statistic:an, is the source
OF grave errors, so it is sometimes wise to
answer fool according to his folly.
According to recent estimates, the gold
production in America will reach $685.
100000.
In 1885 it was $92,0OO,OOO. Here is an
increase OF 60 per cent in the gold pro-
duced. In 1885 the population was but
$4,000, 900; it is today 100000. The
increase in population is but 30 per cent.
But let it be considered the gold pro-
duced does not perish; it is stored
wealth. 1t does not disappear as popula-
tions disappear in generation it does
not disappear in year like the wheat
crop or the coal production; it accumu-
lstes.
Since 1873 the American product of
gold has exceeded 5000, 900, 900, thus in
creasing enormously the money of re-
demption, so-called.
But take the world at large. The
years production Of gold is estimated at
$240, 100000. II exceeds the years OF the
California production. In 1874 the
the worlds annual production of gold
was $780, 10000. The produce is now.
two and half times the product of
1874.
Does any silver statistician suppose
that the worlds population has in that
time increased $50 per cent, or one-fiith
OF $50 per cent ? II 30, he ought to be
nominated for Vice President on tick
ct with Bryan.
Since 1873 TO 1897 the worlds product
of gold has reached the enormous figures
of So, 200, 100000. This is certainly equal
to 70 per cent of the worlds supply at
that time.
But, it is said, we have made gold the
sole primary money; hence scarcity.
The annual product OF gold in 1897 is
$24O. 100000.
In 1873 the total value Of gold and sill
yer produced in the world was $l7S,O0O
600.
That is, the production OF gold in 1897
is SO per cent greater than the combined
production OF gold and silver in 1873,
when, according to the ignorant, gold
was made the primary money.
Hence this statement II gold be the
only primary money, the annual supply
Of primary money is greater by s3 per
cent than the annual supply OF gold and
silver was in 1873
And, il we struck down in 1878 half
tie money in the world, silver, we have
since made good that lcs', producing
enough gold to take the place OF the
stricken silver.
But 10 go further, 1t can be said there
Is more silver money in the world than
ever before more silver doing the work
Of exchange than ever before more pa
per, reasonable on demand in gold and
silver, more and better banking facilities,
and more devices 10 give vitality and
activity TO the money Of the world than
ever before more readiness In exchange,
more utility 10 all forms Of money and
less loss, less expense on account OF ex-
shange.
The whole volume OF statistics is an
annual refutation OF every argument,
'ound or unsound, on which rests the
iemand for free silver.