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
All exchanges must, however, in the first instance, have been made
directly, or, as we term it, by barter; so much of one commodity
or service being given for so much of some other commodity or
service--corn for cloth, furs and skins for knives or tobacco, so
much labor in building a house for so much skill in constructing
a canoe. But in all this method of exchanging, which, while it is
the most ancient, is also one which still extensively prevails in
even the most civilized societies, there was no place for the use
or intervention of money; and consequently, also, there was no such
thing as price; for price, as before stated, is the purchasing power
of any commodity or service expressed in money.
But the people on Robinson Crusoe Island soon found out by experience
that there was an obstacle in the way of carrying on all exchanges
according to the principle of direct barter, so serious in its nature
as to constitute, unless removed, a complete bar to any further
considerable progress in civilization and social development. And
the discovery happened somewhat in this wise:
Twist, who was a tailor, and had made a coat, discovered all at
once that he was out of bread; and being hungry, suspended work,
and went in search of Needum, the baker, to effect an exchange. He
found him without difficulty, just heating his oven, and with plenty
of bread to dispose of; but as the baker had all the coats he wanted,
he declined to trade. Needum, however, kindly informed Twist that if
any fellow should call with any surplus grain or flour, he (Needum)
would be most happy to supply him with all the bread he needed in
exchange; but as the tailor was neither a farmer nor a miller, and
had neither of these articles, he (Twist) set off for the other end
of the island, where there was another baker, to see how the latter
was situated in respect to garments. On his way, Twist was overtaken
by Pecks, the mason, who had no coat, and, wanting the very garment
which Twist had been making, had stopped work on a stone wall and
gone in search of the tailor, to whom he proposed to exchange the
coat for a new chimney. But as Twist had already two chimneys to
his house, and nothing to cook, and didn't want another chimney, the
mason was as unsuccessful in his effort to trade with the tailor as
the tailor had been just before with the baker. At last, after much
vexatious traveling about, involving great waste of time and labor,
Twist found a baker who wanted to exchange bread for the coat, and
Pecks a tailor who would give a coat for a chimney; Needum having,
in the mean time, shut up his bakery and gone in search of Diggs, the
farmer, who was willing to supply grain for bread. But when all these
different persons, each desirous of exchanging his special products
or services, had been found, and had come together, a new perplexity
at once made its appearance, and one so embarrassing as to cause each
man seriously to consider whether it were not better to return home
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account