It’s only a paper moon,
Sailin’ over a cardboard sea,
But it wouldn’t be make believe,
If you believed in me!

Yes, it’s only a canvas sky,
Hangin’ over a muslin tree,
But it wouldn’t be make believe,
If you believed in me!

Without your love,
It’s a honky-tonk parade,
Without your love,
It’s a melody played in a penny arcade!

It’s a Barnum and Bailey world,
Just as phoney as it can be,
But it wouldn’t be make believe,
If you believed in me!

< instrumental break >

Without your love,
It’s a honky-tonk parade,
Without your love,
It’s a melody played in a penny arcade!

It’s a Barnum and Bailey world,
Just as phoney as it can be,
But it wouldn’t be make believe,
If you believed in me!

Music by Harold Arlen
with lyrics by Vincent Rose and E.Y. Harburg