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
If a man was a Pagan, he felt that in no way could he so honor and
symbolize the god he worshiped as to fashion in gold the image of
that which he imagined; if he was a Christian, he chose gold for
the fabrication of his symbolic vessels and ornaments, as, of all
material things, the one which was most typical of purity, beauty,
durability, and worth. If a great government or a people desired
to commemorate the deeds of a hero or statesman, it impressed their
effigies in medals of gold; if a maxim was enunciated which by general
consent embodied the best rules of life, it was called golden; if
a law or precept was thought worthy of being kept in ever-present
remembrance before the people, it was emblazoned in letters of gold;
while for speech, prophecy, or poetry, this same metal has ever been
a never-failing source for the finest of comparisons and the most
attractive of figurative illustrations. In short, from the time of
its first discovery, among all nations, in all countries, with the
ignorant and the learned, the savage and the civilized, the rich and
the poor, the humble and the powerful, gold has always been, of all
material things, the one which most men have desired most; the one for
which, under most circumstances, they have been willing to exchange
all other material possessions, and for the sake of acquiring which,
even part with immaterial things of greater value--honor, creed,
morality, health, and even life itself.
Gold so becoming an object of universal desire to the people on the
island, and made exchangeable for all other things, it soon acquired
spontaneously a universal purchasing power, and from that moment
became Money.
This purchasing power was at first by no means fixed or constant. So
long as there was but a small quantity of gold, its purchasing power
was large. As the quantity extracted from the rocks or washed from
the sands became greater, and the wants of the people became more and
more satisfied, its purchasing power or value decreased; and if the
supply had continued, and the demand had been limited to the wants
of the island exclusively, its value in time would have undoubtedly
been no greater than copper or iron, and possibly not so great. But,
very curiously, an abundant supply did not continue. That which was
obtained first and with little labor proved to be the result of the
decay and washing of the rocks through long ages; and when the readily
accessible or surface deposits became exhausted, as was soon the
case, the conditions determining the supply of gold became altogether
different. On the one hand, there was no lack of gold. Instead of being
a very scarce metal, as was for a time supposed, it was found to be
so widely disseminated that the chemists and metallurgists readily
detected traces of gold in almost every extensive bed of clay and
sand they examined. [10]
Public-domain text, read in full here on John Shaqi.
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