San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1896-06-15
4 CIRCUS DOLLAR.
IT PsRFoE;' 5 4 WONDERFUL FEAT IN
PAYING DEBTS.
illustrates tie Rapidly With Which Good
Money Can Circu,ate--And That Quality
Is More Important Than Quantity.

Is hOTN Important Ouantitys
In his recent great speech in congress
the Hon. James T. McCleary, of Mime
sofa, told the following story to illustrate
the fact that quality of money is more
important than quantity and that the
power of even a small amount of good
money to circulate rapidly, pay debts,
settle balances and to facilitate ex-
changes is almost limitless:
When was a small boy, saw some
thing that / shall never forget. 1t was
at circus The clowns and some other
employees arranged themselves in cir
Gle. Let us say that there were 20 Of
them in all No. 1 said to No. 2, 81
owe you So; I'll pay up as soon as
can" No. made this statement to No.
8, No. 8 to No. 4, and so ON around the
circle, No. 20 saying it to No. l. No.
showed his hands into his pockets, and
with look of pleased surprise pulled
out 81. Turning to No. 2, he said: II
didn't know that / had that dollar
Here's so much on account. No. 2 took
the dollar, and with similar language
passed it on to No. 8, and so it went
around the ring. No. 90 passed it to
No /, who received it with smile and
started to put it into his pocket, but in
stead he turned to No. and said, II
didn't expect to be able to pay you the
balance so soon, but here it is. % And so
it went around the ring, finally coming
back to No. /, who with satisfied
smile put it into his pocket.
To the little boy who looked as l did
thirty odd years ago this was simply
the funny work of clowns, to be laughed
at and forgotten. 1t was not forgotten,
however, and to the man older grown
and charged with the serious considera-
ton of the affairs of a great nation it il
lustrates the profoundest truth in
finance What is that truth? 1t is this:
Under proper conditions the working
power of dollar is beyond all human
computation.
Twas very much surprised to hear this
afternoon a man so prominent as my
friend from Tennessee Mr.. McMillinl
speak as if money paid for taxes was
lost to circulation. l have often heard
men speak as if they thought that there
must be as many dollars in existence as
there are dollars worth of business to
be transacted. What would farmer say
to an agent for bushel baskets who
should attempt to convince him that he
needed as many baskets as he expected
to raise bushels of crop? The farmer
would feel that his intelligence had been
insulted, and justly so. He knows that
he can use the same basket over and over
again, and the quantity measured in
given time will depend on the speed
with which the one handling it works
And then, if properly used, it is ready
to do as much more. ....
So with the yardstick, the pound
weight and the dollar Each can do an
almost infinite amount of work if prop
erly used. What are the conditions of
highest efficiency in money? Under what
conditions can given amount of money
do the most work? Let us examine our
illustration.
The dollar in the circus ring did the
work of $40 in five minutes and was
Just as capable of accomplishing as much
more in the succeeding five minutes.
Why was this? Simply because it moved
promptly.
Now, let US examine the matter lit
tie more closely. Why did it move so?