New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-11-06

II has escaped remark that the ingenious project OF
Messrs Butler, Phillips, Allen, Kelley, and the rest
for "nOnexportabe currency" IL an audaeious
plagiarism, the Same thing having been tried IN this
good city of New-York no less than 200 years ago.
That veracious historian of New-Amsterdam, Died
rich Knickerb0cker, describes in his immortal work
scheme Of our Dutch Governor. William the Testy.
for abolishng poverty and making money plentiful
throughout the colOny-a scheme from which 1t Is
plain that our modern political economists must
have stolen all their notions of currency
REFORM The Governor finding sort Of money called
wamprm. composed of strings of beads, wrought
out Of CLANS pcriwnkles, and other shell-iish," in
use among the savaqes Of Manhattan, conceived the
idea of making it the currency of the province,
much as it was great deal easier to get than gold
and silver aud could be manufactured in any do
sired quantity. To be sure il bad no intrinsic value.
but the Indians were ready to take it ir exchange
for petry and The Dutch settlers passed il readily
from hand to hand, as being based upon tho credit
and resources Of the whole colony The Governor,
AZ honest knickerbOckcr relates, began by paying
all the servants of the company and all the debts Of
government in strings of wampum. He sent ennis
sarcs 10 sweep the shores of Long Island, which was
the Ophir of this modern Solomon and abounded in
sselI-lish These were transported in loads to New
Amsterdam coined into Indian money, and launched
into circulation And ucw for time affairs went on
swimmngly; money became as plentiful a. in
the modern days of paper currency, and to
use the popular phrase, "a wonderful impulse was
given to public prosperity" The Yankees poured
into the colony buying everything they could lay
their hands on, and paying for it with Indian
money, and az the currency was non-eXportabe it
always remained in New-lOTk, getting more and
more abundant until every Dutohman in the colony
had barrels of it slowed away III his house. TIade
might have hourishod in this way indefinitely, but
somehow-the simple-Ininded burghers never I'M
dcrstood the philosophy of 1.-THE colony
found itself drained after while of all
it, furs and other merchandise, while it had nothing
in return but lot Of nOn-eXporabo oyster shells
based upon the credit and resources of the whole
colony, which their neighbors would rot receive in
exchange for goldfish tinware, wooden nutmegs, and
other Yankee produce. Thus ensucd period of
great business Depression until pcerihe Geadsrong
in spite OF tho clamors Of spectators, who in
sisted that the coloney needed nothing but that
wampum should be "lnadc and kept equal 10 the
wants Of trade" dccrceJ that gold and silver should
again DO accepted as the only legal tender. There
was n great outcry about tampering with the cur
rency and destroying the business interests of the
| country; but il soon died away, and though few
oyerhlown spectators came to grief the steady
Dutch merchants began TO grow rich aud coutented.
The many friends OF Mr.. William L. Blodgett will
lie recced to learn that the general impression las
mentioned in the obituary Of hin iii yesterdays