River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1874-06-12
PAPER.MONEY IN ANCIENT TIMES

Interesting aud obstructive Fnct- aud Fik-
nres--IrredeemabIe Currency Twenty ten
turtles age.
During the discussion of the financial
question in Congress and in the press.
last winter, the idea was frequently adj
vanced that the world bad outgrown
the idea of money hitherto preyelant.
and that 1t was to be hoped that in the
nineteenth century the
United States would not ieturn TO an
obsolete and barbarous monetary sys-
ten, meaning specie. An inconverti-
BILE currency, 1T was claimed, such US
we possessed, was currency better
than metallic; and the employment of a
medium of circulation
WITHOUT INTRINSIC VALUE
was hailed as one of the great inven-
lions of the age. When Senator Schurz
showed 10y quotations from the Travels
of Marco Polo, that centuries ago the
Chinese were acquainted with and used
aspeeies ofmoney not differing essential
ly from greenbacks, the new school TO fl.
nanciers stood aghast at the discovery
that theirsystem was not original. Since
MIR. Schurz delivered his speech, a
French economist, Mr.. A. n. Bernard
axis, has published a valuable paper in
which he traces the history of inconver-
tlble eurrencies-i. G., of currencies
without intrinsic value-in Lacede-
monia, Carthage, Rome, Russia, China,
Persia, etc. The only difference be-
tween the
lNCoNvERTIBLE CURRENCIEs OF ANCIENT
TIMES
and those III our own is, tina; the latter
are IN paper, the former were of parch-
ment, leather, small pieces of skin, tin.
pewter, iron, etc.
Esehines, the disciple of Socrates,
thus describes the money of the Car
thagenians
. In small piece of leather they en-
velop a something of the size of a piece
of money equivalent to four drachms !:
but what Is contained in the envelope
no one knows except those who manu-
facture 1t. Once sealed, they are put
IN circulation, and the person who has
most of them is considered TO have
most money, and to be the richest
citizen. But, no matter how many Of
them we should have, VIC would be no
better off than if they were so MANY
pebbles. In Ethiopia, engraved stones
are used as money, but a Lacedemohian
could make no use of them.
Aristides, the orator, saws: "The
Byzantines coin iron, and the Cartha-
genians stamp leather" Between the
money of the Carthagenians and
THE GREENBAcKs
there is no difference. The essential
character of both is the absence of in
trinsie value. The iron money of the
Lacedemonians had some value :and
the engraved stones of the Carthagen-
ians, though not precious stones were,
rare enough 10 bestow them withsome
valuealsO. Thatsuch money was known
in Rome is evident from the words of Sen
eca "A debtor is one who owes gold
or leather struck with public mark,
such aswas used by the Lace1emonians.
among whom IL took the place of
money Isidore of Seville saws :" II
was from the skins of animals that
money was cut and stamped" In Rus
STA skins were ut one time the circu-
latng medium. On account of their
Inconvenience, the Government had
small pieces cut out of them, aud then
Withdrew the skins from circulation,
using the small pieces alone to repre-
sent them-thc skins themselves re-
manning in the Government treasury.
1t happened that
THE RUSSIAN GOVERNMENT
was once in need OF money, and as it
could manufacture this species easily
and ut little expense, il was ordered
that a number of skins be cut into
small pieces. This was done, the pieces
of skin were scaled 10y the Government,
and made to pass current ~ money. At
first these pieces were redcemable in
the holes from whlcht they had beencu
Later, when the needs of st te de-
manded il, they were made inconver-
tible.
I'm a work containing fragments from
Alexandrian authors, editedby Hultche.
W. read ~ am acquainted also with
wooden talent at Antioch As 90 the
wooden talent of Alexander, IL differs
obout one-iiith from that of Antioch. ="
Here was
MONEY MADE or WOOD.
ACKNOWLEDGEMENTS who struck
non money. and gave II circulation.
estimating 1t az if IL were SO much sill
YER. I'm his economies he cites the
following fact "pcnys the Ancient,
wanting money, caused pewter money
Ia be struck, and couvoking an assem-.
bly, of the people, he spoke to them SO
iayoably IT the new money, that he
persuaded tho citizens to employ il. =
Pollok relates the same fact Denys
the Ancient" he says having had
pewter money struck. compelled the
Syracusians to use il instead of silver,
and this money was worth four attic
drachms instead Of one. The follow
ing fact is also related by Aristotle
nfrimothy tho Ahruian hpiUw en-.