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
As for the Friends of Humanity, who had been the authors of so much
financial and commercial disturbance and national misfortune, they
soon ceased to command attention from any one, then became objects
of laughter and derision, and finally passed out of the remembrance
of the people, who were now all too busy in restoring their fortunes
to give a thought to bygone and mortifying experiences. Some became
convinced of their errors, and made good citizens; but in the case of
the majority, the belief that the calling of things of no intrinsic
value by the name of money was equivalent to the creation of wealth,
became chronic, and finally developed into a harmless insanity. On
pleasant days they might often be seen on the corners of the streets
gathering leaves and bits of sticks and straws, and telling the
children that assembled about them that all that was necessary to
make these worthless gatherings money was to simply have confidence
that they were so. But this was asking for a simplicity of belief
that was a little too much, even for the children.
It only remains to add that, as memorials of this eventful history,
there is still exhibited in one of the public buildings on the island
an exact model of the cave in which the venerable Robinson Crusoe
dwelt, and, what is even more interesting, the identical chest which
he brought from the ship, and which contained the pins, needles,
knives, cloth, and scissors, and the three great bags of what was
then useless, but now good and true, money. Numerous specimens of
the "ideal money" may also be seen in the same room, together with a
picture of the barber who papered his shop with it, and of the dog
which the people paraded in the streets covered with a plaster of
pitch and currency. [37]
NOTES
[1] That the inconveniences experienced by a community attempting to
conduct its exchanges exclusively by pure and direct barter as here
depicted, are not only not imaginary, but have their exact counterpart
in the present every-day experiences of countries of great geographical
area and population, is proved by the testimony of Barth, Burton,
and other recent travelers in Eastern Africa. Thus Barth, for example,
says (see "Travels," vol. i., p. 568; vol. iii., p. 203) that he was
repeatedly prevented from buying what he absolutely needed--corn,
rice, etc.--because he did not have, and could not get, what the
people wanted in exchange; and, again (vol. ii., p. 51), he states
that so great was the difficulty of getting things in some of the
African towns which he visited, in consequence of the people having
no general medium of exchange, that his servants would often return
from their purchasing expeditions in a state of the utmost exhaustion.
[2] "The precious metals have many qualities which fit them for use as
coin money. Their defects are their weight, their intrinsic value as
commodities."--Social Science and National Economy, by R. E. Thompson,
Philadelphia, 1875.
Public-domain text, read in full here on John Shaqi.
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