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
But the new system did not work smoothly. There was no harmony of
sentiment between buyers and sellers; and what was one man's ideal
of what he should give or receive in trade was always different
from every other man's; and, before the community were well aware
of what they were about, they found themselves drifting back to
the adoption of the old system of barter, which had been tried and
abandoned in the early days of the island's history. Instead of one
price, every one who had commodities or services to sell adopted a
scale of at least four prices: "pay price," "money price," "pay as
money price," and a "trusting price;" and the seller, before fixing
his price, invariably asked his customer how he would pay. [30]
"Pay price" was barter; "money price" was payment in foreign coin;
"pay as money" was in the ideal money of the island; "trusting" was
an enhanced price, according to time. Thus, supposing a customer
wanted a knife, its price in "pay" would be a bushel of corn; in
"money price," a fifty-cent gold or silver coin; in "pay as money,"
sometimes as much as he could bring in a basket, at other times as
much as he could bring in a wheelbarrow; and before the ultimate
abandonment of the use of ideal money, a cart had to be employed to
bring the money. Trade in this way became "most intricate."
News also came, about this time, that the heathen, not being able
to stay their stomachs with the pictures of fat cattle that had been
so abundantly sent them, and considering themselves humbugged, were
preparing to declare war. To meet a threatened increased expenditure
on this account, the Government, therefore, levied new taxes; and as
the valuation of the property of the island, under the influence of
the new fiscal system, had, as before stated, enormously increased, it
was anticipated that a small rate would yield a large revenue. But as
soon as Scrapehem, Double, and their friends, who had been multiplying
their property by multiplying titles, found out that the titles were
to be valued and assessed as wealth, equally with the property which
the titles represented, they hasted to swap back, and cancel their
mortgages; and immediately half the reputed wealth of the island
disappeared.
There were some people, it will be remembered, who did not share in
the general jubilation which welcomed the discovery and adoption of
the new monetary system. These were the stony-hearted capitalists,
meaning thereby persons who had produced by industry and frugality
more than they had consumed, and had lent out this surplus in the
form of ships, houses, horses and carts, wheelbarrows, coal, iron,
and the like, on condition that they should be repaid the value of
the several articles as expressed in money, with a portion of the
profit that might have accrued to the borrower from their using.
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.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account