Seventeen Talks on the Banking Question: Between Uncle Sam and Mr. Farmer, Mr. Banker, Mr. Lawyer, Mr. Laboringman, Mr. Merchant, Mr. ManufacturerFowler, Charles N. (Charles Newell)
History
Seventeen Talks on the Banking Question: Between Uncle Sam and Mr. Farmer, Mr. Banker, Mr. Lawyer, Mr. Laboringman, Mr. Merchant, Mr. Manufacturer
Fowler, Charles N. (Charles Newell)
Banks and banking -- United States; Currency question -- United States
MR. MANUFACTURER: Mr. Banker, did I understand you to say that the
four gold coins you have mentioned, the two and a half, the five
dollar, ten dollar and twenty dollar gold pieces constitute all the
money that there is in the United States?
MR. BANKER: That is precisely what I said, and I stand ready to prove
it. Yes, to demonstrate it absolutely, and if I don't convince everyone
of you that I am right, I'll eat all the other stuff you call money
that you can bring me.
MR. LAWYER: Here is a gold certificate, isn't that money?
MR. BANKER: Mr. Lawyer, please hand me that certificate. Here is what
it says on its face: "_This certifies that there have been deposited in
the Treasury of the United States of America Ten Dollars in Gold Coin
payable to the bearer on demand_." It is perfectly evident, Mr. Lawyer,
that this is nothing but a warehouse receipt for ten dollars, stored
in Washington subject to the demand of the holder. There is just the
same difference between that and the gold coin as there is between a
trunk and a trunk check. You would not hold up a trunk check, and tell
me that it was a trunk. This certificate is no more money than a trunk
check is a trunk.
MR. LAWYER: You are right, Mr. Banker. There is nothing so absolutely
essential in our talk, as illustrated by this incident, as the use of
correct, exact language. And I am very glad that you have impressed
this fact so indelibly upon our minds at the outset.
MR. FARMER: Did you say, Mr. Banker, that all the money there was in
the United States were the gold coins? Then you said that if you didn't
convince the rest of us that that was the fact, you would eat all the
other stuff that we call money that we would bring you. Now, it seems
to me as though that was just one of your smooth, slick tricks of
getting what we have got in our pockets, as usual. How does that strike
the rest of you boys? Now, I have a few silver slugs here, Mr. Banker,
that will keep you busy chewing until you pass over, if you try that
game on us.
MR. BANKER: That is all right, Mr. Farmer, but you wait until you hear
me out.
Now, let us agree upon one fact, and that is this, that Uncle Sam over
there is not making or coining any other pieces of gold than the four
pieces I have just described, and that none of the one dollar or fifty
dollar pieces are now in circulation. Do you all agree that that is a
fair assumption under the circumstances?
UNCLE SAM: Yes, that is a perfectly fair assumption that all of the gold now
in circulation consists of the four pieces I am now making, the two and a
half, five, ten and twenty dollar pieces. But, if they constitute all
the money I have in circulation, I am mightily fooled, and it is high
time I was put right.
MR. BANKER: Well, that is what I am going to do. I am going to put you
right, for you have not only been fooled yourself, but you've been
fooling the people long enough as well.
Public-domain text, read in full here on John Shaqi.
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