The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-09-11
SOUTH SEA CuRRENCY.
Queer Results Brought About by the Mix
ture of Foreign CoinnGes.

ture of Foreign Coinnges.
Money values in the South Pacific are every
where computed with a reference more or less
remote to the dollar and the cent. probably be-
cause the Yankee whalers OF the early days
were the only people in the position where
money talks. The beginning OF the financial
instruction OF the islanders was to teach them
the relation between q large heap Of their goods
and a certain disk OF silver. When the budding
financial scholars had familiarized themselves
with the size Of the dollar disk, the keen com
petition of trade discovered that so long as the
disk was of the proper size the mintage was OF
little consequence. Business doomed when IL
was seen what a profit lay in the introduction
OF the rubbishy dollars of South America. the
peso. the sol, the bolivar. all of the proper d.
mansions OF u dollar. but lacking in other es-
sentlal qualities.
After some years this money fell into disre-
pute rs trade was reduced to a regular business
basis. and the only extraordinary profits which
could be realized were shaved off by skilful use
of irregular weights and measures. In Hawaii
a silver coinage was established in which the
pieces were exactly like American money in
every respect except the ornamental part.
which displayed the head of Kalakaua. In
Samoa the treaty provided for the expression
OF values in American currency. and took no
particular account OF the soft money condi-
ton of affairs. Because of the nearness of the
Australian colonies II was most convenient to
bring in English gold and silver in return for
the soft money which the united efforts
OF the traders were shipping away to be
melted down for bullion. The Germans made
an effort to introduce the mark. and a large
consignment was landed at Apia for a German
firm. Rival business houses were prompt in
showing the Samoans that the mark weighed
less than the shilling and that they would be
the losers by the introduction OF the coin. This
stopped that, German agRresslon-,a more etfec-
tive method than the stir which diplomacy
made about I months after common sense had
in Apia. After the mali steamers have passed
there is a small amount Of American coin in
are run up for their benefit,
Al business In Apia Is done with British
in vogue elsewhere and likely 70 puzzle tho
newcomer who thinks TO settle the matter by
THAT viii not assist. for neither farthlng nor
penny would be OF any use on that beach.
where the Lowest price OF anything Is sixpence;
with the table. The Apia table OF, money
values would, have to he constructed to slip
back and forth between English and American
money A dime. to begin with the lowest coin
which has any use on the beach. a dime Is n
. shilling, The HORN Of wo s~hiliings i
half u dollar. The sovereign Is, So, 1t
r rs Hu IKE z thos to c Sysn tTR in aocd 6R2 long tS
the doctrine OF chances which make winning
SO mnch more Pronable than pracflcal, one
by two cents and a half. At the next step by
paying n quarter for a shilling article the bank
gets a cent ahead, which beG9nes two cents
paying out a ave.dollar gold piece where n
sovereign would do Just as well you lose IA
the average gait of the ,e~vening.up process.
IT can only be done with dimes, The wide gulf
between the results OF theory and those of
practice will be strikingly shown when you at
Tempt to pay Q, dime for the four eggs which
thing may be seen In amy shop by profrering
two dimes as the equivalent OF, a shilling. Tho
most lucid arrangement OF the Samoan cur
rency Is in a table:
Two dimes don't make a shilling.
A dime and R]sixpenC0 make L quarter.
AZ cents make half a dollar.
$3.50 mako So.
That table has not the sweet harmony Of the
tables in the arithmetic books: IL il a little
jerky in some OF It's steps. but II represents the
financial idea as It has been developed under
the torrid sun in the Pacific.