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
circumstances, or arbitrarily and easily changed by the devices of
those who desired to get their living without working for it.
But this experience of the islanders in reference to the originating
and using of money, although curious, has not been exceptional; for the
records of history show that men almost everywhere, in going through
the process of civilization, have had a greater or less measure of
the same experience. One particularly noteworthy illustration of this
is recorded in the "History of New York," by Diedrich Knickerbocker,
and in the manuscript records of the New York Historical Society. It
was in the days of Dutch rule--1659--in New Amsterdam (afterward New
York), when the common money in use was the so-called Indian money,
or "wampum;" which consisted "of strings of beads wrought of clams,
periwinkles, and other shell-fish. These had formed a simple currency
among the savages, who were content to take them of the Dutch in
exchange for peltries."
William Kieft was at that time governor, and being desirous of
increasing the wealth of New Amsterdam, and withal, as the historian
relates, somewhat emulous of Solomon (who made gold and silver as
plenty as stones in the streets of Jerusalem), he (the governor)
determined to accomplish his desire, and at the same time rival
Solomon by making this money of easy production the current coin of the
province. "It is true, it had an intrinsic value among the Indians,
who used it to ornament their robes and moccasins; but among the
honest burghers it had no more intrinsic value" than bits of bone,
rag, paper, or any other worthless material. "This consideration,
however, had no weight with Governor Kieft. He began by paying all
the servants of the company, and all the debts of the Government,
in strings of wampum. He sent emissaries to sweep the shores of Long
Island, which was the Ophir of this modern Solomon, and abounded in
shell-fish. These were transported in loads to New Amsterdam, coined
into Indian money, and launched into circulation."
"And now for a time affairs went on swimmingly. Money became as
plentiful as in the modern days of paper currency, and, to use a
popular phrase, 'a wonderful impulse was given to public prosperity.'"
Public-domain text, read in full here on John Shaqi.
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