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
The first thing of note that next happened among the Robinson Crusoe
people was a great and unexpected revival in business. Money began
to grow abundant. Societary circulation was never so active. Every
thing that was offered for sale speedily found a purchaser, and,
demand increasing, prices rapidly increased also. It was also noticed
that a few persons who never did any regular work, but speculated
and gambled all the morning, and took pleasant sailing excursions
every afternoon, had, especially, plenty of money, which, as patriotic
citizens, desirous of making trade lively, they were always most ready
to part with for other commodities. The shop-keepers, the farmers, and
the mechanics, all also finding that they had more money than usual,
all also felt impelled to buy something, and prices took a fresh start
upward, so that a bushel of wheat that could previously have been sold
for one hundred cowries easily brought one hundred and fifty, and even
two hundred. But, on the other hand, the farmer, instead of being able
to buy, as before, a plow for two thousand cowries, now found that he
had to pay double, or four thousand; or, in other words, the cowries
had only about one-half the purchasing power they possessed before.
But for a time every body was jubilant. Was it not evident that
the value of every man's possessions, measured in cowry money, had
greatly increased--and what could be more natural than that the shrewd
adventurers who had been the authors of these golden days should be
highly honored, invited to speak before cowry clubs in all parts of
the island, and be even talked of for the chief offices, which still
continued to be filled by Robinson Crusoe and his man Friday? The
continually augmenting prices--measured in cowry money--of all
commodities, or, what is the same thing, the continually diminishing
purchasing power of the cowries, at last began to attract attention,
and this in turn induced distrust; so that the price of a bushel
of wheat, which had been at first one hundred cowries, and then two
hundred, rose to three, four, and even five hundred cowries. Another
remarkable circumstance noticed was, that, as prices increased,
the wants of trade for cowry money also increased proportionably,
which want the adventurers who had been the means of giving the
island its increased volume of money took care to supply by bringing
additional quantities of cowries as they were needed. It was also
observed that, as distrust increased, there was also a remarkable
increase in societary activity; for every body desired to change off
his cowry money for something else. [3] Persons who were in debt made
haste to pay their debts, and every body was ready to lend cowry money
to start all sorts of new enterprises. A company was organized, for
example, with a capital of ten million cowries, to explore the wreck
of the original ship which brought Robinson Crusoe to the island; and
Public-domain text, read in full here on John Shaqi.
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