Pioche daily record. [volume] (Pioche, Nev.) 1872-1876, 1875-12-04

The discussion on currency ut the East
takes some amusing shapes. In the
New York Nation of October IA, the
Rev. L. X. Beecher, whom the Nation
describes as harmless lunatic. asks yhy
some currency may not be made to re.
volvs in the manner OF what he calls
" closed circles Of exchange" which he
illustrates by grocer issuing in the pur.
chase OF milk tickets which he receives
in pay of groceries. Mr. Beecher thinks
such general system might be legalized
and the ticket made legal tender. Mr..
David A. Wells replies as follows: "Sup-
pose go on certain Saturday to e.
mira, to hear Mr.. Beecher preach. Time
hanging heavy while waiting for Sunday
to come, l stroll on Saturday evening to
Smiths pleasant gambling saloon to
have little amusement, and being at
the same time on frugal thought intent
l conclude to risk but five dollars for my
evenings diversion, and so bet but fifty
cents at time on the green cloth. To
enable me to do this get fve-dollar
greenback exchanged at the cashiers
desk for ten red ivory counters, or chips,
as they are technically called; and after
playing to my hearts content I leave,
and Sunday morning finds me at Mr..
Beecher's church. i acknowledge that
my conduct is rather inconsistent; but
it is not my conduct that we are
looking after just at presently The ser
mon plesses me so much that at its close,
when a collection is taken up to help pay
Mr.. Beechers well.earned salary, I de-
termine to contribute; and finding one
of those red chips received in exchange
the night before in my pocket, put it in
the hat. When the money comes to be
delivered to Mr.. Beecher, he very natur-
ally expresses some surprise at finding
this strengthening visitor nestled in
among the bank notes, the fractionals,
the cabbage leaves and the milk tickets,
and asks what it all means.
ITO this I may be supposed to re.
spond that the chip is currency, 'revolv-
ing perfectly in the close circle of the
faro bank, and fulfilling within that cir
Gle all the offices of money, independ-
emily of gold, Mr.. Beecher has only to
go, after church, to Smiths saloon, and
present the red chip have given him to
Jones, the cashier. and Jones will either
allow him to bet with it or, if the bank
was not cleaned out the night before or
seized by the police. will probably re-
deem it in q fifty-cent script But, nv
dear sir, responds Mr.. Beecher, I am a
minister, and l don't want to be seen
going into saloon 1 answer Il sup
pose it would be dsagreeable to you, but
you can give this chip to the milkman,
the grocer or the tax-collector. They
understand all about these close circles
of exchange; they will take it,. But
am not 10 certain of that says Mr..
Beecher. How will they, any more
than |, know what its value is, or
whether it will be redeemed in anything
else? Don't trouble yourself about that
matter, rejoin; 1 have fixed all that
l happened to be member of Congress-
last year, and, after devoting two weeks
earnest study to the subject of finance
was not able to see any more than you
now are, that there is any unwisdom or
injustice in requiring citizens to recog-
nize treasury notes and gambling chips
the one Of which is legal tender to the
Government and the other legal tender
to the faro bank-as a legal tender also
in the settlement of private accounts
more than this, the ivory chips are
prettier than greenbacks, and more con-
venient for carrying; and what better de-
vice can there be for indicating their diff
ference in value than by a change in their
color; they have also in perfection another
attribute of really good money inasmuch
as they are non-exportable; and if we
take into consideration the number of
fights, feuds and murders that take place
in the gambling soloons. think that we
are fairly entitled to claim for the chips
that they are battle.born and blood.
stained So / accordingly persuaded
the National Legislature to pass law
making Treasury notes, gamblers chips
milk'tickets, and every other instrument
ality of exchange which is capable O
revolving perfectly in a closed circle, lie
gal tender in payment of private debts
You see it now, don't you, Mr. Beecher?
Il rather think do, responds Mr.. B.
but at the same time l wish that wher
you next come to hear me preach ant
feel that 1 have rendered you service
and strengthened you up to further goot
work in Washington, you would give m,
something that don't belong to a CLOSED
circle OF exchange something that
shall not feel obliged before accepting
} to examine statute book, read my Bible
consult the resolutions of the last politi
cal convention, or wait the news of ar
election in Ohio, to decide whether I hat
better take it, and, if do take it, how
much can get for it.