The Origin of Metallic Currency and Weight StandardsRidgeway, William
History
The Origin of Metallic Currency and Weight Standards
Ridgeway, William
Money -- Origin; Weights and measures -- History
At this point it will be well to remind the reader that the area occupied
by the cattle-keeping races whom we have enumerated was continuous.
There was no insuperable barrier between Indian and Persian, Persian and
Mede, Mede and the dweller in Mesopotamia, or again, between Persian
and Armenian, Armenian and the Scythian who lived in his ox-waggon on
the plains of what is now Southern Russia: the Scythian was in contact
with the tribes of the Balkan Peninsula, who in turn were in contact
with the Greeks and the dwellers along the valley of the Danube, who in
their turn joined hands with the peoples of Italy, Helvetia and Gaul.
Hence the value of cattle would be more or less constant from one end
of this entire region to the other. The purchasing power of the cow
might be greater in some parts than in others, just as with ourselves a
sovereign has the same value from Land’s End to John o’Groats, although
the purchasing power of the sovereign as regards the necessaries of life
may differ widely in different places within the limits of Great Britain.
It is only when some impassable natural barrier intervenes that there
will be a difference in the value of the unit of barter. Thus, in the
case of Britain we cannot suppose that the value of oxen was necessarily
the same there as it was on the Continent. If it was it would be merely
a coincidence. The difficulty of transporting live cattle in such ships
as the Gauls or Britons possessed would have been too great to permit of
such a free circulation of the unit as would have kept its value exactly
even on both sides of the Straits. In fact it was only with the invention
of steam that facilities for transmarine cattle-trading came in which
could tend to level the value on both sides of an arm of the sea. In the
earlier half of this century cattle were extraordinarily cheap in Ireland
in proportion to the prices which they fetched in England, but yet the
difficulty and expense entailed in sending them across in sailing ships
effectually prevented the export. When the first steamers began to convey
cattle from Ireland to England the profits were enormous, although the
freight of a single cow cost, I believe, several pounds. Steam-power
has done much to equalize prices, but still there is a considerable
difference in the value of cattle on both sides of the Irish Sea. But
where no impassable barrier of sea or forest intervened, we may fairly
assume the ox carried much the same value from Northern India to the
Atlantic Ocean.
Public-domain text, read in full here on John Shaqi.
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