First: "In God we trust."
Second: "United States of America, One Dollar." Mr. Banker, what have you to say about our Silver Dollar? Do you mean to tell me it is not money? That's what I want to know. Think of it, this dollar of our daddies not money.
Mr. Banker: Well, Mr. Farmer, if you'll follow me for half a minute, I will only have to ask you whether you yourself think it is money; and I will abide by your own decision. But, what I would rather do is to put it to a vote of the crowd, and if it is not unanimous I'll give it up.
Here is a 1 cent piece, bearing one of your invincible superscriptions, "United States of America, One cent." We have more to trust God for in one of these cents than we have in your Silver Dollar, and therefore it was a grave oversight when Uncle Sam left off the other invincible superscription, "In God we trust," since this piece of bronze is worth only about one-thousandth part of a one-hundredth part of our Gold Dollar, or .0011890. Here is one of our nickels, bearing the same invincible superscription, "United States of America, V cents," which is worth about two-thousandths of one-hundredth part of a Gold Dollar, or .0026743. Here is a 10 cent piece, worth about 4 cents, or .04456, and here is a 25 cent piece, worth about 11 cents, or .11141. Here is a 50 cent piece, worth about 22 cents, or .22283. Here is the sacred dollar of our daddies, worth about 47 cents, or .47651.
Now, all these pieces of metal belong to the same class of coin from the cent to the dollar included, and are merely token coins.
Mr. Merchant: Well, what is a token coin?
Mr. Banker: A token coin is a piece of metal bearing the stamp of the Government, and passing at its face value, though the metal it contains is worth less than its face value.
This definition covers every piece of metal coin Uncle Sam makes except our gold coins, which are worth just as much and no more in the form of coin than they are in the form of metal, or gold bars. Now, Mr. Farmer, I want you to understand that the silver dollar is included in these token coins.
Mr. Manufacturer: Well, please tell me why do people take these pieces of money at their face value, when they are worth so much less than they pretend to be?
Mr. Banker: For the very simple reason that Uncle Sam over there redeems all the coins, smaller than one dollar, when presented to him in sums of five dollars or more, and because it is made the duty of his Secretary of the Treasury to maintain the face value of our silver dollar with our gold dollar by exchanging gold dollars for silver dollars, if anyone asks him to do so.