The Ketchum keystone. [volume] (Ketchum, Idaho) 1885-1899, 1890-09-20
THE BRIDGE OF DEBTS.
How the People Of Possey Keep
Their Accounts Straight.

How the People Of Possey Keep
Their Accounts Straight.
The "credit SYSTEM" as it is or
dinarily known nowadays, appears
to belong to an advanced state of
society, and to be impracticable un-
der simple conditions of life, but it
! is in use, nevertheless, in some very
primitive communities, says wri-
| ter in Youths Companion. In the
valley of Possey, in the Austrian
Tyrol, where the Alpine inhabitants
lead a simple life, practically all
business and work are conducted
on credit, subject to an annual set
tlement. On a certain day in win
ter the inhabitants of the valley
meet at the bridge of St. Leonard's,
place which is convenient to all,
and the day is spent in balancing
accounts.
The first business in order at
these meetings is the payment of
debts. Every one pays what he
owes; some depend upon what they
collect to meet debts owed to others,
but the inhabitants of Possey are
thrifty and honest, and there is u.s.
ually money enough to go around.
The bridge of St. Leonard's, in
other words, is the clearinghouse
of the valley of Possey.
After the debts are paid, contracts
are entered into for the next year.
Labor engages itself, and the farm
ers' crops are often bargained for
in advance.
If any debtor fails to appear at
the bridge and meet his dues on
this ''squaring-up" day he is prac-
tically cut off from further dealings
with the other inhabitants of the
valley. No more credit is allowed
him and he is generally fain to re-
establish himself in the good will
of his fellows by paying his debts
as soon as he possibly can. To be
able to hold up ones head on the
bridge is the test of solvency and
honor.
There is tradition in the Tyrol
that once, a long time ago, after a
year of scarcity and disaster, the
inhabitants of the valley of Possey
met at St. Leonard's bridge. Each
one owed some one else. Conse-
quently each depended upon being
T paid by his neighbor who owed him
in order to be able to pay his neigh
bors whom he owed.
But as 20 one appeared to have
any money no ones debts could be
paid, The people stood about in
despair, until presently well-to-do
, miller, who was known to have
. money, arrived.
"Good p said Hans Melchior, the
: tailor. "Here is Wilhelm Gutpfen'
mig. He will start the ball rolling
Whom do you owe, Wilhelm?'
mo one"
$50? Well, will you lend me
forty gold thalers until noon?'
e The miller thought the matter
l., over a moment.
e "Yes," he said. ~ believe yor
: are honest, Hans Melchior. ! vii
e lend you the money.
He advanced 40 thalers to Hans
e who used tito pay his debts to Pieter
the weaver, and Pieter the weave
e passed it on to discharge his obi
:, cations to another citizen, and 81
. it went from hand to hand, dis
= : charging the very moderate debt
Of the Possey inhabitants until i
e came to the last man, who happen
g ed to owe Hans Melchior just A
:, II thalers. He paid it, Of course, AM
g :, with it Melchior at once settled hi
= debt to Gutpfennig the miller.
Now since the miller had pai'
if himself out of the grists as he wen
d along, and was owed by nobody
IS his forty gold thalers had paid al
- the debts in Possey, and thoug
d every one else had come to tn
g bridge in the morning moneyles'
: every one went home in the aftel
noon solvent and happy.