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 people, on their side, responded most cheerfully. Some gave one
thing and some another. Some gave service as soldiers, laborers, and
artificers; others contributed timber for canoes, cloth for tents,
iron for spear-heads and guns, corn and flour, hay, medicines, and
money--in short, all sorts of useful things, the results of previous
labor and economy on the part of the individual contributors. In
return, the contributors received back from the Government a promise,
expressed on paper, to repay the commodities borrowed, or their value
in money. These promises were of two kinds. In one the promise was
made definite as to the time of its fulfillment, and the amount or
value of the promise carried interest. These were called bonds. In
the other, the promise, although definite, specified no particular
time for making it good, and its amount or value was not subject to
interest. These latter, from the circumstance that they were written
on blue paper, were popularly termed "bluebacks." When the people got
the bonds, they put them carefully away, for the sake of the interest
that would accumulate upon them; but when they got the bluebacks,
they were at first at a loss to know what to do with them. They were
in some respects unlike any thing they had ever seen before; and yet
there was a very close resemblance between them and the certificates of
deposits of gold in the public repository, which they had now been in
the habit for some time of using as currency. And as the one promised,
on the part of the Government, to pay money equally with the other,
there seemed to the public to be no good reason why one should not
be used as the representative and equivalent of money as readily as
the other.
Public-domain text, read in full here on John Shaqi.
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