The Brookhaven ledger. (Brookhaven, Miss.) 1875-1883, 1876-05-18
lated and gambled. all the morning, and

afternoon, had, especially, plenty Of
money, which, as patriotic citizens, de-
sirous of making trade lively, they
were always most ready to part with for
other commodities. The shop-keepers
the farmer, and the merchanics, all also
finding that they had more money than
usual, all also felt impelled to buy
something, and prices took fresh start
upward, so that bushel of wheat that
could previously have been sold for one
hundred cowries easily brought one
hundred and fifty, and even two hun
dred But, on the other hand, the far
mer, instead of being able to buy, as
before, pillow for two thousand cow
ries, now found that he had to pay
double, or four thousand; or, in other
words, the, ,cowries had only about one
half the purchasing power they pos.
sessed before. But for time every
bodyswas jubilant. Was It not evident
that the value OF every mans posses
sion, measured in cowry money, had
greatly increased-and what could be
more natural than that the shrewd
adventures who had been the authors
of these golden days should be highly
honored, invited to speak before cowry
clubs in all parts of the island, and be
even talked of for the chief offices,
which still continued to be filed by
Robinson,Crusoe and his man Friday?
The continually aughmenting prices
measured in cowry money-of all com
modities, or, what is the same thing,
the continually diminishing purchase
ing power of the cowries, ut last began
to attract attention, and this in turn in
duced distrust; SO that the price of a
bushel of wheat, which had been at
first one hundred cowries, ,..and then two
hundred, rose to three, four, and even
five hundred cowries. Another remark
able circumstance noticed was that, as
luCItuSGSt, tIC Wduto VI eIaeiO ioi
cowrY money also increased proportion
ably, which wants the adventures who
had been the means of giving the island
it's increased volume of money took
care to supply by bringing additional
quantities of cowries as they were need
ed. 1t was also observed,that, as distrust
increased, there was also a remarkable
increase i'll society activity; for every
body desired to change off his cowry
money for something else. Persons
who were in debt made haste to pay
their debts, and everybody was ready
to lend cowry money. to start all sorts
of new enterprises. A company was
organized, for example, with a capital
of ten million cowries, to explore the
wreck of the original ship which
brought Robinson Crusoe to theisland;
and although nobody knew exactly
where tile wreck was, or what was sup
posed TO remain in it, it was advocated
as aifUd!ng great opportunity for labor.
Another project, for which company
with fifty million cowries capital was
started. was to build g system of ca
nails across the island, although the is
land had width of only about ten
miles, with q remarkably safe ocean
navigation all around it. Finally the
secret of the whole matter gradually
leaked out. Other people besides the
original three shrewd fellows found out
where the supply Of cowries came from,
and made haste to visit the remote
island, provide themselves with money
and put it in circulation. But the
more money that was issued, the more
was needed to supply the wants of trade
until at last it took a fourhorse wagon
load Of cowries to buy bushel of
wheat. Then the bubble bursted. Stock
companies all failed. Trade became
utterly stagnant. The man whom
Robinson Crusoe had made secretary of
the island treasury thought he could
help matters by issuing few more
cowres, but it was no use. Some very
wise persons were certain that every
thing would be all right again if people
would only have confidence; but as long
as the people who worked and saved
were uncertain what they were to re-
ceive for the products of their labor
sonnthing or nothing - confidence
didl't return. Everybody felt poor
and swindled. Everybody who thought
he lad money in savings banks woke
/ up all at once to the realization that
| his money was nothing buta lot of old
1 shells. Everybody had his bags, his
stills and his moneyboxes filled with
Ishels, which he had taken in exchange
/ for commodities which had cost him
valuable time and labor"
At last the people on the island came
to understand that property is the re-
sultof some form of labor; that capital
IS that portion of the results of p1oduc-
ton which can be reserved and made
available for new and futher produc-
ton; that money is an instrumental
ity for facilitating the distribution and
use of capital and the interchange OF
products and services; that production
alone buys production; that when one
buys goods with paper representative
or symbol of money, the goods are not
paid for until the representative is sub
stituted by value OF some sort in Ia
Dor, or money, or some other commodi-
ty; and, finally, that country and its
inhabitants increase in wealth or abun-
| dance by increasing their products
\ rather than by inordinarely multiply
| ing machinery for the exchange OF pro-
ducts.
Coming to gradually realize, also,
that one of the first requisites for an
INCREASE of trade was that confidence