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: From what you have said, Mr. Banker, and what Uncle
Sam admits, I guess we all agree that the United States Notes, or
Greenbacks, are not money at all, but just ordinary debts, or demands
for money, and therefore cannot themselves be money, of course. But
what have you to say about this National Bank Note here? How does this
differ from the United States Notes or Greenbacks? Don't you admit that
this is some sort or kind of money?
MR. BANKER: I do not. It is no more money than the United States Note.
Just read what it says:
MR. MANUFACTURER: I will. This is what it says:
"_The First National Bank of New York will pay the bearer $5.00._"
Mr. Banker: Don't you see that that bill is a mere I.O.U. of the Bank,
nothing but a promise to pay five times twenty-five and eight-tenths
grains of gold, nine-tenths fine, to the bearer? It does not differ in
the slightest degree from the United States Note except that one is
the promise of the First National Bank of New York, and the other the
promise of Uncle Sam to pay $5.00. You can no more say that a promise
of a bank to pay money is money than you can say that a promise of
Uncle Sam to pay money is money. Both are debts, and both are demands
for money, and therefore neither can be money.
MR. FARMER: Gentlemen, while I must admit that Mr. Banker has
completely, yes, absolutely, gotten away with the United States Notes
and National Bank Notes and convinced us that they are not money at
all, just watch me choke him with this silver slug, weighing 412-1/2
grains, and bearing two invincible superscriptions.
_First_: "In God we trust."
_Second_: "United States of America, One Dollar." Mr. Banker, what
have you to say about our Silver Dollar? Do you mean to tell me it is
not money? That's what I want to know. Think of it, this dollar of our
daddies not money.
MR. BANKER: Well, Mr. Farmer, if you'll follow me for half a minute, I
will only have to ask you whether you yourself think it is money; and I
will abide by your own decision. But, what I would rather do is to put
it to a vote of the crowd, and if it is not unanimous I'll give it up.
Public-domain text, read in full here on John Shaqi.
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