The weekly intelligencer. [volume] (Lexington, Mo.) 1891-1901, 1891-03-21
The Island of Bimpt.

rcaulnp:
In the middle of the ocean there
was formcry an island inhabited by Il
civilized people. The name of the
island was Bimet. The people follow
ed the usual pursuits of a civilized cOun-
try. There were shopkccpers, manu-
fncturers, bankers and farmers. But
the base of all other Industries was the
farmers. They produced the grain and
the meat that fed the people, the cotton,
wool and flax that clothed them.
The money of this people was not
like ours, of gold and silver, for they
had none; but it consisted of two kinds
of shells, white and pink ones. In the
northeastern portion of Bimet the land
was flat and low, and often it was sub
merged by the sea. The money shells
were obtained with great labor and dan
ger by mining under the sea level for
them. In stormy weather the mines
were sometimes filled with sea water and
many miners lost their lives. Never
thcless, these shells being money, men
were found to risk all and seek for
them. The shells were found in about
equal proportions. Sometimes for Il
series of years Il few more white ones
were found, and again for Il time few
more pink. But in long years the aver
age number of each color was about the
same; and white shells and pink were
equally used and esteemed as money in
Bimet. 1t was the same whether in the
retail shop, over the bank counter or on
change.
Now 1t SO happened in Bimet, as in
other civilized countries, the credit sys-
tenn prevailed. People assumed money
debts-sometimes judiciously, some
times more than conservative business
methods would warrant. Land, being
valuable, was esteemed the best of Sc
curities and the farmer found it easy to
borrow money by giving mortgage on
his farm. AS consequence much OF
the land was mortgaged; many of the
farms for full half their value So
long as the financial conditions of the
country remained undisturbed every.
thing worked smoothly. The farmer
paid his interest and the mortgage re,
mained. But there came an unlocked
for change.
Notwithstanding these people lived q
long time ago their government was
well conducted. They were governed
by king who ruled with the advice OF
chosen counselors. The treasury, like
other departments, was conducted with
system. The head of the treasury
knew at all times how many shells Were
circulating as money. For be it known,
when these pink and white shells were
eycavated from below the sea level,
they did not ut once become money, but
it was required that they be first taken
to the treasury where certain characters
were engraved on them. Then, being
officially engraved, they become money
Without the government engraving they
were priced only for their prospective
va lue, or for ornaments.
Around the court were many ricl
men; and they had loaned great sum
of money to the people. They hclt
mortgages on n vast amonnt of proper
ty and lived ut their ease while they
received the interest on their loans
But they were not satisfied. They wish
ed to be richer set, and they devised ;
hIlittlt nt li't'
noted by the report of the treasure
that there had been gradual increas
in the number of shells in circulation
so that, within the century, the curren
cy had well nigh doubled. The busi
ness of the country had also doubled
but it did not suit these mems plans tt
note that fact. And so it came to pas
that the rich men consulted together
and they went to the king and to hi
counselors and argued that there wa
too much money. Let us say they said
..Do away with the use of white shell
for money and have only the pink.
The kings counselors themselves, be
ing rich, were easily persuaded, an
the king was persuaded. So the kin,
iss,:ed decree demonetizing whit
, SHELLS.
AT the time the king issued his deere
S there were 10000 engraved shells in ell
l culations, half white and half pink. )
5 that 90, 900 shells represented the valu
t of all the property in Bimet. But afte
the king had issued his decree the re
: naming 10000 shells represented tn
1 value of all the property in the island
5 And after q little time the people bega
1 to realize that great hardship was bein
g wrought to all except those who ha
J money owing to them. But those VIII
had money owing them were content
? for their wealth Increased apace. On
shell was now worth as much as tw
r shells formerly had been and as muc
4 could be bought with it. So the farm
n which had formerly been worth 20
4 shells, was now valued at only 10
d shells.
l And some of those who held til
Y mortgages began to take the farms fo
S their debts.
And the people were greatly displeas
: ed; they clamored for the use of whit
e shells. The king, being q great kin.
o was perplexed and uncertain what {
o do. For the rich men said: ''The sil
) gle standard of value is best, for thoue
o the producer now gets only one she
l. for that which formerly brought tw'
: can he not buy as much sugar and co
fee, rs much clothing and all 9TH
things rs he could formerly buy wit
e two? Wherein is he injured?" But Il
If people yet besought the king that the
/, wrongs might be rightcd; that the
property might be saved to them.
n the king thought to compromise al
II satisfy both rich and poor and consen
- ed that one-half of the white shel
J. should again become money. And Il
king instructed his treasurer accordin
l. ly and half the white shells went for
II rs money.
l. After this compromise measure q
people were mostly enabled to ke'
N their property, but the interest was Y
" heavy on them, and they became res
he less again for the restitution of all t
is white shells as in former times. b
A. the rich men said to the king, .sWl
q would you make white shells none
IN They are relic of barbarOus ag,
White shells are not valuable Wi
III three pink shells you can buy fCur VIII
n ones. 1t must work evil to put infcri
he white shells on an equality with pre-
ious pink ones
The rich men spoke not without
show of reason, for when white she
4 were no longer money their value gre:
VI ly decreased in the market. When
+ portion of them once more became mo
IL ey the value of those not engraved 70
be only in proportion to the number
quired for conversion into money.
X the rich men contended urgently aS'u'
u their further use
all But the mutterin%S of the nuilltu
g. subsidized not and great meetings we