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 next important question was, In what manner should the new and
unlimited supply of money be distributed? All saw at once that it would
never do to commence on a system of giving unlimited something for
unlimited nothing; and yet, if this was not done, how was it possible
for the wants of those who had nothing, and who, of course, wanted
money for this reason most imperatively, to be supplied? Besides,
to create an unlimited supply of the new money, it would be necessary
to have a good many hundreds of thousands of slips of paper with the
words, "This is a dollar," "This is ten dollars," or "This is--"
(some other amount), properly and artistically printed on them;
all of which, in turn, would require a great expenditure, not only
of ink and paper, but also of time; while the necessity of the hour
was for immediate relief, especially to trade. It was therefore
decided to leave the troublesome question of equal distribution for
a time unsettled, and endeavor to first relieve trade by doubling the
volume of the currency. And in order to do this at once, and without
cost to the Government for engraving, printing, paper, and ink, it
was therefore enacted that every one having legal-tender currency
might cut or divide the same into two equal halves or pieces, and
that each of these halves or pieces so resulting should be a legal
tender to the full amount that the whole had previously been. At first
thought, this proposition to exclude all those who had no money from
participation in the new supply seemed most palpably unfair and unjust,
but a little consideration satisfied to the contrary; for unless it
was proposed to give away the new money, it was obvious that those
only would get it who had money, and that the proportion which all
such would obtain would be in proportion to what money they already
had. It was, therefore, deemed wise to anticipate what was certain
to be the ultimate result, and distribute it in the manner indicated.
CHAPTER XII.
GETTING SOBER.
Public-domain text, read in full here on John Shaqi.
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