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
There was a very wise man on the island who objected to the use of
gold as money, for the reason that he felt afraid that the poor old
women who wanted to feel certain of having always something of reliable
value in their possession would fill their old stockings with it and
hoard it. [12] But he was soon shut up by some one asking him, why,
if the old women wanted to keep something by them perfectly secure
against a rainy day, and slept better nights because they knew they
had it, they shouldn't be allowed that privilege? and if there could
be any possible reason why any one should object to the old women
hoarding gold, except that he wanted to cheat and wrong the poor by
compelling them to keep their hard-earned savings in something whose
value was not certain, and which might have no value whatever when
it came time to pay the doctor or the undertaker?
When the people on the island first began to use gold as money, they
carried it around with them in the form in which it was first found;
the fine dust or scales inclosed in quills, and the nuggets in bags;
or they melted and hammered it into large lumps and bars; [13] and,
as the purchasing power of the gold was always proportioned to its
weight and purity, every body carried round with him small scales
and tests with which he proved the gold before making exchanges with
it (the same as is customary at the present day in China). But this
method involved great inconveniences; and although the statement of a
person of recognized honesty that he had proved the value of the gold
he offered in payment was generally accepted, it was nevertheless
recognized that there was no more unfairness or discourtesy in the
claim of the grocer to test the quality of the money of his customer by
scales and acids, than there was in the claim of the customer to test,
by tasting, the salt and sugar of the grocer. As might be inferred,
therefore, it often required a good deal of time to complete the most
ordinary exchanges, and people everywhere complained about it and
wrote letters to the newspapers. Merchants who were very cautious
and particular, irritated their customers, and got the reputation
of being very exacting and distrustful; while merchants who had but
little capital and wanted to get business, advertised they would take
gold on the simple word of their customers. But it was observed of
the last, that, owing to being constantly cheated, they all, sooner
or later, failed. At last the difficulty was remedied by a series of
happy circumstances.
Public-domain text, read in full here on John Shaqi.
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