Semi=weekly graphic., 1896-06-13
A CIRCUS DOLLAR.
IT PERFORMS A WONDERFUL FEAT IN
 PAYING DEBTS.

Illustrates the Rapidity With Which Good |
 Money cau CIreuiste--Apd That Quality [
 Is Mare Important Than Quantity.
 In his recent great speech in congress i the Hen. James T. McCleary, of Minne- sota, told the following story to illustrate the fact that quality of money is more important than quantity and that the power of even small amount of good i money to circulate rapidly. pay debts, settle balances and to facilitate ex- changes is almost limitless:
 When I was a small boy, 1 saw some | thing that I shall never forget. It was at circus. The clowns and some other employees arranged themselves in cir cle. Let us say that there were 20 of them in all. No. l said to No. ?, "I owe you $2; I'll pay up as soon as can ? No 3 made this statement to No. 3, No. to No. 4, and so on around the circle, No. 90 saying it to No. l. No. 1 showed his hands into his pockets, and with look of pleased surprise pulled out $1. Turning to No. ?, he said: ''I didn't know that l had that dollar Here's SO much on account. No. 3 took the dollar, and with similar language passed it on to No. 3, and so 1t went around the ring. No. 20 passed 1t to No 1, who received it with a smile and started to put 1t into his pocket, but in- stead he turned to No and said, T didn't expect to be able to pay you the balance so soon, but here it is. D And so it went around the ring, finally coming back to No. 1, 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. It was not forgotten, however, and to the man older grown and charged with the serious considera- tiOn of the affairs of a great nation it il- lustrates the profoundest truth i'll finance What is that truth? It is this: Under proper conditions the working power of dollar is beyond all human computation.
 Twas very much surprised to hear this afternoon man so prominent as my friend from Tennessee MT. McMiilinl speak as if money paid for taxes was lost to circulation 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 1 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 l 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 mere.
 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? Underwhat 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. 1 Why was this2 Simply because it moved promptly.
 i Now, let us examine the matter lit tie more closely Why did it move SO? Why was each one so prompt to pass the dollar on? Because he felt good-that IS, he felt honest. He felt that when he owed money and had it ill his pocket the only proper thing for him to do was to pay up. Moreover. each had confidence 1 in the other There was q feeling of re- spect and good will among the men in that ring. This is one of the conditions under which money does its work most effectively
 What is the other condition? Why was each man willing to accept the dol lar ill payment of what was coming to him? Because he knew that it was a 1 good dollar He knew that whenever he wanted to use it, whether 1t might be that day or not for ten years, it would be just as good as when he accepted it.
 Suppose, on the other hand, that each of the men had dollar in his pocket, Dub tildb they illbtIuSlSu bdCn OlueTl edCu fearing that if he let go Of the dollar that he had he might not soon get an- other, although money was due him, and suppose that each was afraid to ac- oept the money of the other, fearing that it might not be good when he wanted to use it. that it would depreci- 1 ate or his hands-what would be the result? Why. of course, each would keep in his pocket what money he had, and each would continue to owe the other that is, the money would accomplish nothing
 In other words, sir with good money and mutual trust $l did the work of $40 while with questionable money and distrust $20 could accomplish noth- ing. In other words, the quality of money is immensely more important than it's quantity
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 m.