Seventeen Talks on the Banking Question: Between Uncle Sam and Mr. Farmer, Mr. Banker, Mr. Lawyer, Mr. Laboringman, Mr. Merchant, Mr. Manufacturer — John Shaqi
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
That promise, or agreement, can mean but one thing, and that is
that you will pay the bearer five times one dollar, or five times
twenty-five and eight-tenths grains of gold, nine-tenths fine.
Now, it must be perfectly clear to you, indeed, the conclusion is
incontrovertible, that that $5.00 United States Note, by which you
agree to pay me $5.00 cash, can't be the $5.00 itself.
MR. FARMER: No, by jocks, I know that is true. Tom Jones gave me a
written agreement to deliver me a horse last Monday morning. I sent
my boy over with his written promise for the horse, and he refused to
deliver the horse. Certainly, his promise was not the horse; that's
perfectly clear to me, for I did not get the horse, and that's the same
kind of a deal that this United States Note is.
MR. LABORINGMAN: Yes, but Uncle Sam is no such flunker as that.
MR. BANKER: Well, he flunked from 1862 until 1879, for about seventeen
years, and he came within an ace of flunking again in 1894. He is
liable to flunk any time it suits him, if he should get into a tight
place.
UNCLE SAM: That's so, and the misfortune and the shame of it is, that I
am left in a position where I am compelled to flunk.
MR. BANKER: I agree with you, but that only adds additional proof that
this $5.00 bill, which is your promissory note, your I.O.U., or old due
bill, given for boots, mules and ammunition during the war, is not
money at all, but a mere promise to pay money.
As you have just said, it is most unfortunate that you have been left
in this position by your boys who have been going to Congress for the
past fifty years, apparently without the intelligence, or courage, to
relieve you of this disgraceful situation.
UNCLE SAM: Well, if these United States Notes are nothing but
my promissory notes, or due bills, agreeing to pay money, it is
self-evident that they are not money. You have completely satisfied me
on that point. Mr. Banker, how much of that kind of stuff have I got
out?
MR. BANKER: $346,000,000.
UNCLE SAM: Great Scott, I presume if I should get into trouble with
some first-class nation, and have to go to war for a few years, and
the people began to wonder whether I was going to pull through and pay
my debts, that is to doubt my ability to stand the bill, and all that
$346,000,000, then that $5.00 United States Note would not pass for
$5.00.
MR. BANKER: Precisely so; that very note passed for only $1.75 at one
time in 1864, or only 35 cents on the dollar.
UNCLE SAM: Well, I wish Congress would get busy and pay these things
off, so that I would be prepared for business, if anything should turn
up compelling me to fight.
Public-domain text, read in full here on John Shaqi.
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