MR. BANKER: Uncle Sam, you will remember that you have $346,000,000 of United States Notes to pay. You have also $563,000,000 Silver Dollars to redeem, and there are $750,000,000 National Bank Notes, making a total of $1,659,000,000, all resting on your $150,000,000 of gold in the reserve of your Treasury. UNCLE SAM: Yes, but I don't have to pay those National Bank Notes, do I? MR. BANKER: Well, Uncle Sam, it's this way, you know, you have to pay them out of a 5% fund created by the bankers, but the bankers can turn right around and ask you to redeem the United States Notes which you pay them for the National Bank Notes, in gold. UNCLE SAM: Mr. Banker, tell me another thing. If these silver certificates are nothing but warehouse receipts calling for silver dollars, and the silver dollars are nothing but token coins, then all these silver certificates are nothing but token or subsidiary coins in another form. MR. BANKER: That is literally true. UNCLE SAM: And you say I have $563,000,000 of silver dollars out good for nothing but token or subsidiary coin? MR. BANKER: Precisely so. UNCLE SAM: Now, what I want to know is this. How much of this silver is needed today to supply the people with the token or subsidiary coin, up to and including the $2.00 bills; that is, the $2.00 bill, the $1.00 bill, 50, 25, 10 and 5 cent pieces? MR. BANKER: There are in circulation today about $400,000,000 of these various forms of subsidiary or token coins, or about $4.00 for every man, woman and child in this country. UNCLE SAM: What is the total amount of silver in the country then, of all kinds, silver dollars and pieces of silver less than one dollar? Tell me that. MR. BANKER: There are, as I just said a moment ago, $563,000,000 of silver dollars and $147,000,000 of silver pieces less than one dollar, or a total of $710,000,000. UNCLE SAM: Well, well, you frighten me, for at the rate of four dollars each, the amount necessary for the convenience of the people, I am stacked up ahead for at least fifty years, or until we have about 200,000,000 of people; for you say we have all told $710,000,000 of silver coins in the country now. I want to tell you gentlemen, right now, that I want to get out of this hole, and I want to keep your mind steadily on that point as we go along. The whole situation is a most embarrassing one. Tell me how much gold coin we have scattered about everywhere over the country? MR. BANKER: There is about $1,850,000,000 of gold available in the country. UNCLE SAM: Then I am confident there is great plenty for the present, if we can devise some plan, or scheme, to avail ourselves of it.