Robinson Crusoe's Money;: or, The Remarkable Financial Fortunes and Misfortunes of a Remote Island CommunityWells, David Ames
General
Robinson Crusoe's Money;: or, The Remarkable Financial Fortunes and Misfortunes of a Remote Island Community
Wells, David Ames
Currency question -- United States; Money
Again, one of the principal objects for which money was devised and
brought into use was to serve as a measure, or standard, for estimating
the comparative value of other things. But it seems hardly possible
to conceive of a person desirous of using money for such purpose,
selecting an article to measure values which in itself possesses no
value, or costs no labor to produce, any more than he would select
as a standard for measuring length something which had no length, or
as a standard for measuring weight something which had no weight. The
people of the island must have been unusually stupid if they did not
from the outset, therefore, clearly see that nothing can be reliable
and good money under all circumstances which does not of itself possess
the full amount of the value which it professes on its face to possess.
CHAPTER V.
HOW THE PEOPLE ON THE ISLAND AND ELSEWHERE LEARNED WISDOM.
But while any commodity possessed of acknowledged purchasing power or
value may be used as money, the experience of the islanders and every
other people must have soon taught them that some commodities are much
better adapted to this purpose than others; or, rather, that the use
of certain commodities as money, while they may answer the purpose,
nevertheless entail very serious disadvantages. And the details of
the manner in which this information has been acquired by experience
constitute one of the most interesting chapters in the world's
history. The experience of the islanders was somewhat as follows:
At the outset they agreed to use cowries--a pretty shell picked
up on the beach, and which the women all desired to have and use
as an ornament. These shells were not, however, plentiful; and,
in fact, it was found that it required about as much time and labor
for a man to collect a hundred of them as it did to grow a bushel
of wheat. Consequently, wheat regularly exchanged for cowries (as
money) at the rate of one hundred cowries for one bushel, while the
farmer with two thousand cowries could readily buy a plow, which
was considered equivalent in value to twenty bushels. By-and-by,
some idle fellows that were in the habit of sailing made a long
excursion, and, for the first time, visited a little island on the
remote horizon. When they landed, they found, to their surprise,
that instead of cowries being very scarce on the beach, they were
very abundant. They winked at one another, and said little; but each
man proceeded to gather all the cowries he could, and, returning to
the main island, kept their discovery a profound secret.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account