Robinson Crusoe's Money;: or, The Remarkable Financial Fortunes and Misfortunes of a Remote Island Community — John Shaqi
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 introduction and use of coined money at once gave an impetus
to business, and made the people richer, because it saved time and
labor in making exchanges, and relieved every man from the trouble
and expense of buying and carrying round with him scales and other
tests. The only persons dissatisfied were the scale-makers, who found
their business almost destroyed, and they petitioned the authorities
to have their interests protected by the enactment of a law compelling
all persons to weigh their coins with scales before exchanging, as
formerly they did their gold. But, as every body at once saw that the
effect of such a law would be equivalent to compelling all exchangers
to do useless work, the petition amounted to nothing.
For convenience in speaking and writing, also, each piece of gold or
coin of determinate weight and fineness regularly issued by the mint
received a particular name and had a particular device impressed on
it. Thus, for example, the piece of lowest denomination, containing
25.8 grains of standard gold, which had on it a likeness of Crusoe's
old and faithful servant, was called a "Friday;" a piece of ten times
its weight and value, with a small portrait of the founder of the
island community, was called a "Crusoe;" and a piece of double the
weight of the last, or twenty times the weight of the first, with
a large portrait on it, was called a "Robinson Crusoe" or a "double
Crusoe." Some time after, when the island became generally known to the
rest of the world, it was found that these coins exactly corresponded
in weight, fineness, and value with those adopted in that foreign
country called the United States, and there known under the names of
the gold dollar, eagle, and double-eagle; and after a time, for the
purpose of favoring the development of civilization and assimilating
nationalities by the adoption of a common monetary standard, it was
agreed to discard all local sentiments, and to substitute the latter
names for the former.
CHAPTER VII.
HOW THE ISLANDERS DETERMINED TO BE AN HONEST AND FREE PEOPLE.
Next came the consideration of the laws regulating the exchanges and
the use of money. Some people wanted laws enacted that every person
should be obliged to sell and part with any thing he owned, provided
a nominal or real equivalent in what the State should declare money
should be offered him; and, also, that when any person had bought
commodities and services of another, and had promised to pay for them
after a time, he might fully discharge the obligation by tendering
that which the State said was money, no matter whether in the mean
time the persons in charge of the mint had, for any reasons, taken
out one-half the valuable gold in the coins, and substituted in its
place comparatively worthless lead.
Public-domain text, read in full here on John Shaqi.
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