The news and herald. (Winnsboro, S.C.) 1877-1900, 1895-05-28

1
account. This event seems to be one
OF the later stages of sort Of descend
ing replacement among the metak
used in coinage, process that has.
during the centuries and millennium
of human history, slowly but plainly
substituted copper for iron, silver fol
copper and gold for silver, says the
Washington Star. Each of these
metals seems to have made its appear
ance as coin in ascending order, and
some are even ready to speculate on
the possible appearance in the future
OF some still more rare and costly
metal to press the coveted yellow
standard lower in the scale, as it 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 the coin.
age of platinum, but the scheme was
abandoned in 1845 because of the great
cost of minting and because of the in
stability of it's value. Aluminium seems
to have larger prospects of gaining a
place in the monetary system, par
ticularly on level below silver, with
a probability Of displacing copper, for
the intrinsic value Of the material in
the prices Of lowest denomination il
now far less than the face value. The
recent discovery of means for the ex.
! tensive production of the new com.
petitor is made in part to account fol
the depreciation of silver.
The word denoting money to the
people of one of the north European
races has all equivalent in the Lappish
language, which still retains it's orig
inal significance as the 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-
sentatives. Familiarity with these
media gives to the innumerable othel
media, that are or have been in use
among the peoples of the earth, an ap.
pearance of almost silly oddity.
But perfectly coined money is com
paratively recent convenience, and the
story of the development to that which
Is at present in use is full of interest.
The natives of the Society Islands as
they lived not many years ago will
serve as the subject of the first lesson.
A Partisan singer, making a profes'
sional tour around the world, gave q
concert in the islands. She WAS to re-
ceive q third part of the receipts.
When counted her share was found to
consist of three pigs, 6wenty-three tur-
keys, forty-four chickens, 5000 cocoa.
nuts, besides considerable quantities o1
bananas, lemons and oranges. At the
French capital all the material would
have added 800 francs to her resources,
but on the islands it was worth to hel
only the value of that part which could
Ne consumed.
Other travellers among tribes where
primitive barter has not yet devel-
oped something having semblance to
a common medium of exchange have
been given still keener appreciation
of the advantages coming from the
use Of money Wallace. When in the
Malay Archipelago, could not secure
supplies for dinner without special
bargain and much pickering upon each
occasion. Because the vendor of ed.
ibles did not always happen to meet
with something desired among the ar.
ticles which the party had to offer il
exchange, Mr.. Wallace and his com.
panions were often compelled to dc
without a meal. These experiences
led them to hold in readiness supply
of such articles as the natives would
invariably accept.
Such was doubtless the first form O.
noney-any commodity which was es,
teemed by all persons, which would be
readily received at all time, and which
all desired to possess in unlimited
quantities-the generalized value
which constitutes the lubricator o.
commerce.
Probably the most primitive money
consisted of the skins of wild animals
The foundation of this theory is the
assumption that the earliest creatures
which could be called men we're 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.
chronological researches, moreover,
show that the earliest races used skins
as the representative of value. C3assi-
cal writer's have recorded traditions to
the effect that the earliest currency
used at Rome, Laced@mon and Garth
sge was made Of leather, and such
money is said to have circulated in
Russia as late as the reign of Peter the
Great.
! In time some particular skin SEEM
TO have become the standard. This
among the aborigines about Hudson s
Bay the early traders found to be that
Of the beaver.
Some of the earliest forms in which
the crude metal was shaped were small
bars or spikes, and wire, rolled into
bracelets or rings. Abundant speci.
mems of this ring money have been
found in various parts of Europe and
Asia, and probably constituted the
FIRST approximation to coinage. It is
wid to be still current in Nubia.
Impressions were first made on only
tome portion of the ingot, spike OF
ring. The early fiat coins were stamped
IN but one side, and rough edges pre-
vailed until comparatively recent times.
While circular coins vastly predcn1.
aate, the forms into which others have
from time to time been cast are pecu-
liar. Many octagonal and hexagonal
pieces have been issued in Germany,
and money in the the form Of squares