The Lancaster ledger. [volume] (Lancaster, S.C.) 1852-1905, 1893-12-20

has been convened particularly on it's
account. This event scemg to be one
OF the later stages of sort of descend
ing replacement among the metals
used III coinage, a process that has,
during tho centuries and millenniums
OF human history, slowly but plainly
substituted copper for iron, silver for
copper aud gold for silver, SAYS the
Washington Star. Each of these
metals seems to have made it's appear.
ance as coin in ascending order, and
some arc even ready to speculate on
tho possible appearance in tho future
oi come still moro raro and costly
metal to press tho coveted yellow
standard lower in the scale, as il has
done TO silver. Iridium, osmium and
palladium, metals scarcely known out.
side the chemists laboratory, are men
toned, but hardly with seriousness.
RUSSIA, in 1928, undertook tho coin
age OF platinum, but the scheme was
abandoned in lS4J because of the great
cost Of minting and because of the in
stability of its value Aluminium seems
To have larger prospects Of gaining u
place III the monetary system, par
ticularly on II level below silver. with
Il probability uf displacinw coppcr. for
hn N p N-t.l, A
tho prices oS lowest denomination il
now far less than the face value. The
recent discovery of means for the ex.
tcnsive production of the now com
rctitor is made in part to account for
The depreciation of silver.
Tho word denoting money To the
people Of one OF the north European
rnces has an equivalent in tho Lappish
language, which still retains it's orig
inal Significance as tho name for skin
in common with it's later use. So
money To citizen of the United States
means golden eagles, silver dollars,
copper pennies or their paper repre-
scntatives. Familiarity with these
media gives to the innumerable othey
media, that are or have been in use
among the peoples of the earth, an APP
pcarancc of almost silly oddity.
But perfectly coined money il IA com.
parativcly recent convenience, and the
story OF the development to that which
IL at present in use is full of interest.
The natives of the Society Islands as
they lived not many years ago will
serve ns the subject of the first lesson.
fnrlsian singer, making profes-
s'"nal tour around the world, gave n
concert in the islands. She was To re-
ccivc third part Of the receipts.
When counted her share was found 90
consist of three pige, twenty three tur.
kcyn, forty chickens, 5000 cocoa.
nuts, besides considerable quantities of
bananas, lemons and oranges. At the
French capital all the material would
have added 800 francs 10 her resources.
but on the islands it was worth to her
only the value of TINT part which could
be consumed.
Other travellers among tribes where
primitive barter has not yet dovel-
oped something having semblance to
common medium of exchange have
been given still kcener appreciation
OF the advantages coming from the
use OF money. Wallace. when in tho
Malay Archipelago, could not secure
supplies for dinner without "a special
bargain and much pickering upon each
occasion. Because the vendor OF ed
ibles did not Away happen to meet
with something desired among the ar-
ticlcs which the party had TO offer in
exchange, Mr.. Wallace and his com.
pHnions were often compelled to do
without "A meal. These experiences
led them to hold in readiness "A supply
OF such articles as The natives would
invariably accept.
Such was doubtless the frat form ol
money-any commodity which was cs-
teomed 10y all persons, which would be
readily received at aii time, and winch
all desired to possess in unlimited
quantities-th tho generalizcd value
which constitutes the lubricator oI
commerce.
Probably The most primitive money
consisted of the skins os wild animals.
Tho foundation OF this theory is the
assumption that the earliest creatures
which could he called men were hunt
ers, The meat which was procured
did not possess the requisite durability,
the bones lacked high value, but the
dried pelts possessed both qualities.
Psychological researches, moreover,
show that the earliest races used skips
as the representative OF value. Classi.
cal writer's have recorded traditions to
the effect that tho earliest currency