Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1875-09-23
Farmer Samuel and Farmer Jonathan.

Farmer Samuel-Neighbor, / want to
buy that colt of yours.
Farmer Jonathan-Very well; the price
is 800.
T. S.-Here are ten bills of mine for ten
dollars each, payable on demand which
will be just as good as gold to you, or in
fact better, for they are not so heavy to
carry about.
F. J-But when will you pay them?
F. S.-Whenever you please will
give you hundred-dollar bond for them
any day, and that will be still better, for
it is to bear interest at the rate OF per
cent day Only think how fast you will
make yourself rich at that rate, Neighbor
Jonathan.
F. J.-But how is this interest to be
paid?
F. S.-Why, have made smaller due
bills, and can at any time pay you the In
terest.
F. J.-And how is the bond itselfto be
paid?
F. S.-Quite promptly. I will give you
whenever you wish.
F. J.-But where am l to get anything
for these pieces of paper Uncle Samuel
f. S.-What else do you want, iona
than? You can pass these to your neigh
bOrs for what you want, and get similar
ones from them when you sell anything.
Don't you see that this is the best curren-
cy in the world?
f. J.-But am | never to get anything
but pieces of paper for what sell?
+. SIS not that paper perfectly Sc
cures Am l not good for all promises
Have l not magnificent farm that would
pay for all the paper | issue hundred
times over?
F. J.-Put if / should want to get gold
for these notes could | sue you and sell
ensugh of your farm to pay me?
F. S.-Oh, no; my farm is held under
the Homestead law and cannot be sold.
You can never get gold that way; but the
paper is far better than the gold. If you
must have gold, however, you can go to
the fellows in Wall street and pay them
anywhere from Ii to 30 or 90 per cent. for
it, as the rapacious and bloated bullionists
may choose to demand.
f. AFTER all, then, am only to get
somewhere from $40 to 800 for my colt.
F. S.-You need never make any such
loss just be content with the bits ofpaper
and never mind the gold.
F. J.-But if / want to buy some lumber
In Canada, or sugar from the West Indies,
or broadcloth from England, will they
take your due-bills?
F. SIN that case you will have to get
gold to pay with, whatever 1t may cost.
F. J. Figuring up)-Then if, when you
have issued great many bills, gold should
rise to 90 per cent. premium, your paper
would only bring 6625 cents worth in
those countries, and so my lumber, or SUI
gar, or cloth would cost me half as much
again as it should.
F. S.-But you need not buy away from
home. Get your lumber in Minnesota,
your sugar in Louisiana and your cloth in
New England.
FJ-But would I get any more for my
paper dollar from them than from people
abroad?
F. 81 cannot say you would.
f. J.-Then these articles at home are
just made as dear by being paid for in pa
per as it would cost to buy the gold to pay
for them abroad. In other words, where
ever buy can only get the 50 or 6625
cents worth for my paper dollar, accord
ing to the premium on gold.
Now honestly, Uncle Samuel, would it
not be better, seeing you are so rich and
have such magnificent farm, to raise the
800 in gold upon it at once and pay me
for my colt in honest money that will pass
anywhere at its full face value? This
proposal to twist around and pretend
to pay, when you don't really pay one
cent, either of principal or interest, could
never come to good. Believe me, this
lodging might do for awhile, but by and
by your irredeemable paper bills would
take their place beside the old Continental
bills, of which a buShel would not buy a
loaf Of broadly. 7. Witness.