Is a shrinking money supply environment painful for an economy? During the great depression the money supply in the US fell by about a third. It is my suspicion that any economy with a falling money supply will generally be doing badly but of course I could be wrong. So I was wondering if the were any examples in any countries (preferably not going back to ancient times) where an economy has had a steadily shrinking money supply but has been doing well with respect to other economic variables like unemployment?

EDIT: I am interested in theoretical answers to this question too.

EDIT: there are multiple measures of a money supply - so I should say that I am referring to any measure which includes notes and coins as well as "demand deposits" a.k.a. "credit" a.k.a. "cheque book money" (so many names for the same thing!).
The closes answer will be country with extremely low inflation such as Nordic countries, Kuwait, Brunei. But they are not a good example, as the money supply are "balance" with their heavy surplus from natural resources exploitation.  

On the other hand, there is plenty of example for "Dutch disease" : excessive foreign exchange that lead to massive future spending with too little on future transformation.

IMHO, there is no "real answer" for this, unless you like in a world with 100% economist. Due to human nature to exploit system, all economy ideology deems broken once it is brought up. Macro manage economy with money supply are one of those.  I am not sure what you try to achieve. Inflation is not the silver bullet for "growth". Nor the so call "ripples effect" from the rich really effective. 

(update)
Keynesianism ciritised European Union below 2% inflation rates lead so "slow growth". Some even suggest country like Greek detach from the Euro and go all out to print money to "stimulate growth". That is a terrible idea of attempt to use monetary policies to solve economy structural issues. 

Is shrinking money supply environment painful for an economy?.  Even with a clear scope, there is no clear answer. 

Some economist argue that "deflation" will cause people "not to spend", to support "inflation" is good because it will force people to spend. This is counter-intuitive against human behavior : human will acquire stuff that they to fulfilled their desires and needs. 

There is no concrete example of "retract economy" under stagnation or deflation.  Due to diversity of human behaviour, some people will hoard the money and go to graveyard without spending all of it. Some will go grab new TV, subscribe to streaming services, etc.