Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1895-09-13
How Time Has Affected Local Money

TO welcome 1t to one who depre Gates
an approach to the day OF small things.
Time was, within the memory Of some
of us pioneers, when a quarter" was
the unit of value, and the noble red man
who was then the universal serviior,
would have spurned any less amount,
had it been available, in exchange for
the most trivial service. Those were
the halcyon times when the octagOn
" slug or fifty dollar gold piece,
passed from hand TO hand AS a meas
urer Of larger values, and this was sup
p!emented by the Moffat' five and
ten dollar gold pieces, which resem-
bled very much in appearance those
government coins Of the present day.
They were issued for convenience by a
banking firm in San Francisco, and con-
tanned five and ten dollars worth OF pure
gold. The smaller currency consisted
of Mexican dollars and few American
half and quarter dollars. The supply
OF money was of course not large, but
being in possession OF sparse popula-
ton, it seemed to be much more plen-
tiful than now, and competent jour
neymen could readily command from
five to ten dollars for days labor. A
few old-fashioned copper cents, brought
" the plains across" by an immigrant
when he arrived in Olympia passed
quite readily as curios at the
unit OF exchange value-as quar-
tiers. Whisky then sold for "two-bits'
q drink, and a survival of Pacific coast
customs is still observed in q reduction
to zone bit" coin that never has ex-
listed, by which fifteen cents has been
invariably charged for single drink.
and if the dime was "blown in" for
another glass OF "the same" the bar.
tender would toss it into the till with
an air of disdain. In the good old
days, up to about the middle of the
"sixties," eight dimes readily passed
for a dollar, and it was not till the
new corners, denominated "tender.
feet" imported dimes for the express
purpose OF passing them off in trade
At a profit of 20 per cent, that it be-
came necessary to readjust frontier
customs to conform to the changes
wrought by time. Even then the
change was gradual and for a time
nine dimes were received for one dol
lars worth OF merchandise. Then all
other step was made and the dime
was accepted as factor in business
transactions at its true value, but a
the same time vigorous protest wal
made against the nickel, which wa
beginning to find its way to Thu
coast. The price OF every commodity
except whisky, was placed at multi
Piles OF ten, and for many years thu
five cent.piece. as change, was onl!
recognized by the banks.
Now another change is coming
about, and the cent is meeting will
about the same reception as its pred
ecessors, the dime and the nickel, il
making change. The establishment
of gold coin as standard is material!
aiding its copper-colored brother il
obtaining footing. for now almos
anything in the shape of none!
"goes," from sheer necessity. Should
the gold-bugs be successful in thei
crusade, the time will doubtless conn
when the poor man will have to con
tent himself with coin that ha
no musical jingle when it is turned
over in his pocket, and which wher
thrown upon the counter falls with I
dull thud that finds no responsive
echo in his heavy heart.