The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1876-05-10
Financial.

A project was suggested 10 the Commercial Aduer-
tiser of the 2sh ult of astounding nature. that il
it were not an editorial should be disposed to re-
gard it as emansting, from the same individual that
has been trying to show could be brought
here for fifteen dollars But this be-
forced 20 the conclusion that there really ind
viduals in this community who do not know what
they are talking about. And with view of throwing
some light on the subject, commend to all financial
tinkers recent pamphlet by David A. Webs entitled
Robinson CIusoe's Honey. reviewer says
Here is financial treatise within the comprehen-
sion of everybbdy-even Of Judge. If the majority
in the House we're to follow a certain gallant Sena-
tors example, and de- fortnight to the study of
6uance know Of no book with which they could 50
profitable begin. The author goes back L first prn
cipes and expounds the purpose Of money, and the
qualifications IL must possess TO be equal the needs
Of the people, and it is upon this rudiment OF h0au-
cia science that legislators must dangerously
ignorant. The author is not Gnreasoning wOr-
shipper of gold. He symPlthizes heartily with poor
Robinson CTusoe who regretted when he found three
bags full Of gold that the bags did not contain
needles garden seeds, tObaeco-ppes instead of
coin for he might have used any OF these articles
while the gold was utterly worthless.
Money was not always useless upon Crus0e's Island
however As additional settlers aud differing inter
ests appeared, men found great difficulty in making
desirable exchanges Of property. tailor found him
self out Of bread. and offered the baker coat in
change for but the baker had all the he
needed the hungry tailor started with his coat to
try baker at the other end Of the island. On the
way be met a mason who was in sad need Of a coat
but be could give bread for he would cheerfully
build chimney in exchange; but the tailor had al
ready two chimaeys, and nothing to cook 10 them.
Other men experienced similar troubles so they
agreed 10 c0wrie shells as medium Of exchange
for the length Of time required gather hundred Of
these showed what their relative vaue was, and pr
ces were established upon the basis Of time
consumed in production Everything went on pros
perously until few ezcursioniss found coWrie SHELLS
10 abundance in distant island. The currency then
increased in volume rapidly that every enc had
plenty but somehow prosperity did not increase as
the circulating medium did, for prices advanced 90
rapidly that bushel Of wheat cost four-b0rse wagon
load Of cowries- The ISLANDERS had a genuine Hoa-
eportabEe currency blessing not unheard Of in the
United States, bat they seemed to get AOng better
on that account At last the bubble burst Stock
companies ali failed. Trade became utterly stagnant-
The man whom Robinson Crusoe bad made secretary
Of the island treasury thought he could help mstiers
BY issuing few more cowries, but Il was no use
Some very wise persons certain that everything
would be all right again If people would only have
confidence; bat long the people Who WORKED and
saved uncertain what they were to receive for
tie products Of their Understanding nothing
confidence dids't return"
While wondering what new substance to use As eur