United States -- Politics and government -- Fiction
To quiet the murmurs of the good people of the land, additional millions
were placed to the credit of the Department of Public Works, and harbors
were dredged out in one month only to fill up in the next, and new
systems of improvement of interstate waterways were entered upon on a
scale of magnitude hitherto undreamt of. The Commissioners for the
distribution of public moneys to farmers so impoverished as to be unable
to work their lands, were kept busy in placing “Peffer Loans” where the
need of them seemed to be the greatest, and to put a stop to the
“nefarious doings of money-changers and traders in the misfortunes of
the people,” a statute was enacted making it a felony punishable with
imprisonment for life, for any person or corporate body to buy and sell
government bonds or public funds, or deal in them with a view to draw
gain or profit from their rise and fall in value.
But try never so hard, the Government found itself powerless to check
the slow but steady decline in value of the people’s dollar. By
midsummer, it had fallen to forty-three cents, and ere the fair
Northland had wrapped itself, like a scornful beauty, in its Autumn
mantle of gold, the fondly trusted coin had sunk to exactly one-third of
the value of a standard gold dollar. People carried baskets in their
arms, filled with the now discredited coin, when they went abroad to pay
a debt or make purchase of the necessaries of life. Huge sacks of the
white metal were flung at the door of the mortgagee when discharge was
sought for a few thousand dollars. Men servants accompanied their
mistresses upon shopping tours to carry the necessary funds, and leather
pockets took the place of the old time muslin ones in male habiliments,
least the weight of the fifteen coins required to make up a five dollar
gold piece should tear the thin stuff and spill a dollar at every step.
Public-domain text, read in full here on John Shaqi.
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