Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-03-02
THE POWER OF A CENT.

II VIII Purchase Much More in Pittsburg
To-Day Than 1t Would While Ago-A
Time When 1t Was an Unknown Guam
tity.
The purchasing power of penny in
Pittsburg nowadays is scarcely appreciated.
Half a century ago solid business men did
an extensive trade without, as the express
sion ran, 'the scratch of a pen" between
them. Receipts in the ordinary course of
trade were scarcely ever given for the pay
ment of small sums of money, nor were they
expected.
In those days, if a mans word were not as
good as his bond. he did not get much busi-
ness and almost any kind of bookkeeping
would answer. If in settlement the debtor got
within % cents of the amount he owed on pay
ment. it was generally considered near enough
peculiar. As late as 1860 the dime was the
smallest amount of money recognized
in many parts of the South. The old
f. penny bit and half dime were occasionally
seen, but if neither buyer nor seller happened
to have either dime was regarded near enough
in small and % cents In larger transactions If
NOrthener bought sheet of paper and an
envelope and gave dime and waited for his
change be was known at once as Yankee.
well, as not only were their main purchases six
months or years supply, as a rule. but on
smaller transactions they evened up on the
change in the course of the year. Cents
and if given to children they knew
not their use. They could not BUY
prizes packages of candy, or top. or any Of
the thousand and one things that may be had
in Pittsburg for a cent. In Texas and on the
frontier generally. especially in mining camps
nothing less than "bit," 25 cents, was Iecog-
nized, and people got along very well, as there
was not enough subdivision in trade to make
the ultimate losses T gains material.
1t is of interest to note that the older the
nation the smaller it makes coin. In Egypt
which was gray-headed 1000 years before our
ancestors were known to historians. Diodorus
raise a child from infancy to manhood
about 16 cents year-so that cent
went a considerable distance in the purchase
of household necessities and the Egyptians
must have found use for very small coins. In
the early history of the Hebrews little refer
ence is found to any coin less than the talent
the latter 6211 cents. but in the time of Christ
the differentiation of business had made
farthings necessary. In Europe. England finds
the half cent or farthing, necessary. Germany
has the pfennig. or fourth of cent. and
Switzerland coins centime. or one.ffth of
cent, while the Chinese. who are said to have
eaten pork raw for 900 years before they ac-
cidentally learned the added luxury of
roasting IL, several myrladS OF years
the nation. has found it necessary
to make a coin equal in value to our mill, or
imaginary m oney of account. This Chinese
coin, which may be found in almost any Chi
nese laundry or opium joint in Plttsburg, IS
one of considerable size aud has a hole in the
center to enable the Celestials to string them,
as the Pennsylvania Dutch formerly did
schnits. To persons OF small means and who
are fascinated by the seductive American
game known as poker, they would afford an ex-
cellent substitute for ourpresent coin when the
penny-anre game is played.