The representative. [volume] (St. Paul, Minn.) 1893-1901, 1896-03-18
PAPER MONEY THE BEST.
A Forcble Reply to Schoolmaster McCleary
Sophistres-H Arguments Riddled.

FOrcible Reply to SchOolmaSter McCleary' S
Sophistries-HisA Arguments Riddled.
Editor Representative:
A quid off the financial plug seems to
keep swelling in a fellows mouth, and
he has to stop "chawin'' and spit out a
chunk every little while; but Mr.. Nc
Cleary evidently did not experience this
while writing his book on finance. OF
course, it is barely possible that his mouth
was too dry to swell anything from hav-
ing too frequently wet dried y his whistle
with the sparkling fluid, having such a
strong affinity for saliva. After splitting
out number of chunks, the following is
what have left for quid:
Uncle Sam hands Mr.. Carlisle dollar
bill and this bill is simply evidence that
Uncle Sam is obliged to Carlisle, or that
Carlisle has a claim against Uncle Sam.
(for evolving that ''endless chain" idea
perhaps. And, of course, this bill is also
measure of Uncle Sans obligation to
Carlisle, just as AS note, held by B, is a
measure of AS obligation to 8.
Now then Mr.. Carlisle exchanges his
claim against Uncle Sam with Mr. A for
bottle of champagne and hands Mr.. A
the dollar bill to serve merely as evidence
and measure of Uncle Sans now Obliga-
ton to Mr. A, and now, happy Carlisle
holds the champagne instead of the dol
lar and his claim against Uncle Sam has
been satisfied so far as he (Carl:sle) is
concerned. Mr.. A now holds a claim
against Uncle Sam, the evidence and
measure of which is called money and is
on a little piece of paper that Mr.. A also
holds And so, in manner precisely like
%
merely as an evidence and measurement
record of an obligation of Uncle Sam,
passes this article, which is on the sur
face of little piece of paper and called
money Gold? O. yes; it could be on
the surface of a little piece of gold, but
should not! Because gold is altogether
too expensive commodity TO print, write,
stamp, or mould little evidence upon,
when paper Or tin is just as good. The
idea that a note can be created (printed,
written, stamped, OrmOuldeO on nothing
but gold Finally, the dollar bill reaches
Mr.. q, having passed clear down the al
phabet; and. now, of course, Uncle Sam
is obligated to Mr.. q for what we VIII call
the Carlisle claim, and Mr.. q holds the
dollar as proof of the same. No, Mr.. Nc
Cleary! that paper dollar does not say
anything about a Carlisle claim, but it
does prove that Uncle Sam is now in Mr..
rs debt in the same amount he was in
Carlisle's debt, when Carlisle held the
dollar :stead of the champagne, which is
all any fairminded, honest man can wish
or ask for Uncle Sans obligation to
Carlisle was of intrinsic value, backed by
the entire wealth of the nation, and has
continued as such while the dollar bill
has been chasing it, so to speak, clear
J,@Lo hot ~ IL
Sans obligation to Mr.. q is Of intrinsic
value Now, then, we will complete the
circuit by letting Mr.. import an article
against which Uncle Sans tariff laws
will make Mr.. obligated to him Uncle
SAM in the same amount he is obligated
to Mr.. q, and Mr. z whips out the dollar
and, as the phrase goes, pays the tariff.
Yet, in that very transaction, Mr.. and
Uncle Sam implicitly agree to let each
obligation redeem the other, Uncle Sam
receipting Mr. 2, and Mr.. z handing
Uncle Sam the dollar to receipt him; and,
so it is, the dollar does not pay the tariff
at all, and neither would the gold dollar
handled in the same way: but, in both
cases, Uncle Sans obligation to Mr.. z
would pay the tariff.
The circuit is now completed. Uncle
Sam has recovered, or redeemed, his note
and the note evinces that he has re-
deemed his intrinsicly valued obligation,
originally in favor of Mr.. Carlisle; and
Uncle Sam has also reaped the benefit of
floating clear through the alphabet nom
interest bearing one dollar obligation, or
debt land this IS benefit that should be
enjoyed by no one but Uncle Sam. And.
so it is, money, merely record Of Uncle
Sans obligation, circulates from Uncle
Sam around among his citizens and back
to him on ian endless chain," ''intrin-
sicily valuable" !. e.. Uncle Sans obuga-