New-York tribune., 1886-01-17
RICH BEGGARS.
THE MONEY PANIC IN MALTA.
lFRoM AN OCCASIONAL CORRESPONDENT OF THE TRrBuN
Molt

1
| We are having IN this little island money panic
of considerable proportions and agitating qualities
and it has developed many curious phases and Incl
| dents. The Italian Government issued on the lst
| of October, 1885, a decree Withdrawing from CIR
culaton all the old coinage Of the Kingdom OF the
Two Sicilies tha: is to say, all the Bourbon com
age. whether OF gold or silver. Such measure
was exceedingly arbitrary in that 1T was totally
unlocked for and too previous" rs 1t were, III its
| prompt operation on October 16. SO far as
the innocent Maltese holders of such money are
concerned, the thing spring on them after the
style of the steeltrap trick, and had 1t not been
that the local government of Malta came to their
relefa large portion of the inhabitants would have
been heavy losers As it is all holders of Scilian
| dollars will lose respectable percentage OF their
savings There was one redeeming feature IN the
Italian Governments action, and that was that III
order that the people might have chance 10 ex-
| change their old money for the new Italian cur
rcncy they should have to the end OF December,
1885. 10 do 1t in. This was ridicuouSly short
time for such an accomplishment when you consl-
der that ho bulk of the population Of the Maltese
Islands cannot read write and cannot under
stand either Italian or English. TO convey the
news TO them it became necessary to send men who
could explain matters in the Maltese lam
gnage, aud this has been done more
rapidly and efcctualy than one could
have expected. The priests (whO number
about 1 900 were directed by the Bishop to IN
sruct the ignorant classes to exchange their dol
lars without delay, and this the latter have been
doing at II surprising rate every day during the last
six weeks There remain only fifteen business days
before the extended time expires, and 1t is thought
that even then there will be Il considerable balance
in the possession of many people who are too ig-
norant to stubborn to part with their lifetime
earnings
Now, before the issuance OF this Italian retiring
decree, it was estimated by one of the largest and
best-knowu merchants aud bankers on the island
that there were about 100000 Siciiian dollars in
active circulation, aud about 100000 boarded by
the people in Malta This. think, was tic general
impression. few business men put tine
total amount hgher-as high as 100000,
and even 1,OO0,O0D dollars but they
were looked upon as lish-headed,
or cxtrayagant. or as men having selfish object in
.her utterances Tnis crisis however, has proved
several unexpected and astounding things; one
being that he number of dollars which have been
boarded mp trebes the amount of those which have
been in crcuaton and another being that. accord
ing TO the best calculation. about 3, 600 600 dollars,
reprcscnting. say 5000 900. have existed IN these
islands and the people had no idea of i'll 1t has
uroycd too tina; instead OF the Maltese being one
of the poorest peoples on the earth. they arc and
have been IN proportion to their total population
of 100 600 persons. one Of tho richest. And these
3 1000 OGO dollars by no means include all their
hand wealth for there is the British gold
and the silver and the banknotcs, ana the Treasury
bills. the amount OF which tthe Editor OF The Malta
Standard informed me- could not be estimated on
account of the reiccncc of the Maltese IN personal
money matters.
A fright took possession Of the country people
lii. 4 ,I 4 nd uul
ing of the Italian decree, and every man, woman
and chlld OF them who Lad hoarlngs dug them up
from their gardens. ce.lcrs. hshed them ont OF
ciserns or snqtched them from their secret hiding
places and then hicd themselves INTO Vactta. and
laid siege TO the two Malta banks in the Borsa
Building IN numbers equal TO an army with ban
rers Il has been curious scene at the Borsa
every day since the crisis arrived in the island. The
people one secs there are mostly from the casals
and country districts Of Malta aud Gozo. They are
usually coatlcss bare-fooled, aud carry long. blue
striped bag over their right shoulders. In one end
Of these bags-the rear ends their food
in the front end their dollars. The women
come INTO town. too. similar
pilgyimagc. sometimes merely accompanying their
husbands from anxious curiosity, or TO help them
protect the dollars in case of attempted robbery,
but o.tener BRINGING with them IN handkcrchiefs,
stockings orplcthoric pockets their own individual.
h0arding'.
One of the most curious developments Of this
affair is that 20 many woebcsonc rag tag-aud-bob-
tail beggars have had to give themselves away.
They did not dare trust their money to any friend
or nciehbor so were compelled to sneak up to the
bank give their names aud occupations, and then
leave their money and take receipt These pro-
fessionals had been living the aims and cheating
the commission OF the generous all their useless
lives They held Government licenses to beg, hay-
having sworn that they were pcnnless aud worthy
OF the charity of the people. Often, when Maltese
bcggar dies it is discovered that he has left behind
hm-usually hidden where 1t has been difficult to
fnd-a pot of money startling in its value. His
relatives divide tho spoilg and buy icwery. If he
has no heirs the money goes to the Government.
Maltese bcggars living aud dead, have an unsavory
reputation in the Mediterranean. Tourists curse
the living ones and bless the dead. They have good
cause. There Is 10 good reason why there should
b. n single Tor marrledl beggar in the island.
When first came to Maitland that was thirty
ciabt months ago now-the first thing saw say
thing" for he scarcely looked humanI was
miserable distorted, sOrc-eyed bcggar on the Nix
Maugieri (" nothing to eat y steps leading up INTO
the town. lie put out his trembling paw Tor aims,
appearing moro wrctchcd than pen can describe.
MANY time during the past three years have
dropped coin into that miserable creatures palm
each time feeling satisfied that | had really
found a>worthy object for my pity and dncats.
Last Monday went into the Borsa To GET n check
cashed. Close beside me stood my crooked Deggar
of the Nix MangIcri stops. scarcely knew hnn.
lie had been recently washed. Ills eyes weren't
sore Ilo hadn't any crutcb. His legs were united.
Int his speech betrayed him; | recognized that
mournful Gold-cxtr2cting whine: Long years
of mendicaucy had fastened that so
secureIy that the artce had become natural.
lie was intent on business now and had eyes
for no one and nothing but his gold" He de-
posted for exchange 300 aud odd SciIian dollars,
and had also brought,i his ignorance, ashof-bag full
of British sovorelgns That decrepid Old fraud
ought to say that robust old fraud-was worth at
least f6OO In hard cash aud goodness only knows
how much in other vauables. Six hundred pounds
in Malta is a fortune for native. Maltese OF