“I am well aware from the experience of my sojourn on earth that the people of earth, as a rule, are yet very superstitious, uninformed and fanatical on the money question. The masses of your people, as I have said before, are worked so hard, and they therefore have very little time and desire for philosophical thought of any kind; but notwithstanding all this, I shall attempt briefly to examine and compare our and your money systems with the above essential features of a just and convenient medium of exchange. Of course we all understand, when we think for a moment, that any system of money that possesses the features of _justice_ and _convenience_ in the highest degree is the most perfect. Let us then begin the examination. “1. As to material, our money or medium of exchange, as I have told you before, is made out of paper which costs comparatively nothing, which is very convenient commercially, and which is sufficiently durable; while you make your money largely out of metals, the production of which costs you an immense amount of comparatively unproductive labor, and furthermore _coin_ is very bunglesome to handle. Two hundred dollars in silver is almost a load to carry. Thus most of your money is _costly_ and lacks _convenience_. “2. As to security, our money is always secured and backed by the immense negotiable wealth of a strong, peaceable community, and in an average we never have more money in circulation than there is actual negotiable wealth on hand to redeem it with, while your national security is often very uncertain. Thousands of people lost by taking Confederate money during the American Civil War; and if the South had been victorious, the greenback would have been worthless. Your security is thus very faulty. “3. You have seen that we have entirely eliminated all credit from our financial world. No individual, family, or community buys on credit; all have plenty of money to buy with, while the volume of your money is often so small and so monopolized that perhaps most of your business is transacted on time, which involves a great deal of uncertainty and injustice. In the first place, the business man under your credit system is not certain of his pay; he must always be on the look-out not to sell to poor payers, and in the second place the annual losses which the business man sustains by failure to pay, must be taxed to the goods he annually sells and must therefore be paid by those who _do_ pay. In this manner a person who pays must _indirectly_ pay for the goods the delinquent fails to pay for _directly_.