Say, it's only a paper moon
Sailing over a cardboard sea
But it wouldn't be make-believe
If you believed in me

Yes, it's only a canvas sky
Hanging 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 phony as it can be
But it wouldn't be make-believe
If you believed in me

But it wouldn't be make-believe
If you believed in me

Copyright: BMG Rights Management, Downtown Music Publishing, Royalty Network, S.A. MUSIC, Spirit Music Group, Universal Music Publishing Group, Warner Chappell Music, Inc.
Writer(s): Billy Rose, E. Y. Harburg, Harold Arlen