The times., 1898-09-18
SOUTH SEA MONEY.
queer Results of the Mixing of the
FOI IeiEn CoInaEes
LFTOm tne NeW Nnrk ~

(trOm the New York SUM-
Money values in the South Pacific are
everywhere computed with reference
more or less remote 10 the dollar and the
cent, probably because the Yankee whaI-
ers of the early days were the only peo-
pie in the position where money talks.
The beginning OF the financial instruc-
tion of the islanders was 10 teach them
the relation between large heap OF
their goods and a certain disk OF silver
When the budding financial scholars had
famiharized themselves with the size OF
the dollar disk. the keen competition 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 tho
bolivar. all of the proper dimensions OF 4
dollar. but lacking in other essential
qualities.
After some years this money fell into
disrepute as trade was reduced to ILs-
ular business basis. and the only extraOr-
dinary profits which could be realized
were shaved of by skillful use of irres-
ular weights and measures In Hawaii
a silver coinage was established in which
the pieces were exactly like American
money in every respect except the OrnI-
mental 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 condition of af-
affairs. Because of the nearness of the
Australian colonies il was most eOnven-
lent 10 bring in English gold and silver in
return for the soft money which the
united efforts of the traders were ship
ping away to be melted down for bullion.
the mark, and a large consignment was
landed at Apia for 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 aggression
more effective method than the stir which
diplomacy made about il months after
common sense had settled the affair Very
rarely a mark is seen in Apia- After the
mail steamers have passed there is a
small amOut OF American coin in circula-
tiOn, for tourists Will buy, and the prices
are run up for their benefit.
All business in Apia is done with British
coin, but il is used in a way different
from that in vogue elsewhere and likely
to puzzle the newcomer. who thinks to
settle the matter by reeling OF -four
farthings make one penny" That would
not assist, for neither farthing nor penny
would be of any use on that beach. where
the lowest price Of anything is sixpence.
Nor do the shillings and the pounds ac-
cord with the table The Apia table OF
money values would have 10 be construct
ed to slip back and forth between English
and American money \ dime, TO begin
with the lowest coin which has any use
on the beach, dime is a siXpence, and
so is a sixpence The form of two shil-
lings is half dollar. The sovereign is $.
1t is supposed to even up in the long run.
like those calculations according 10 the
doctrine Of chances which make winning
so much more probable than practical
One who pays a dime for sixpenny arti-
Gle is ahead by two cents and a half At
the next step by paying quarter for
shilling article the bank gets a cent ahead.
which becomes two cents when a half
dollar is paid. When it comes to paying
out a five-dollar gold piece where a SOW
ereign would do just as well you lose IA
cents. From this it is easy 10 calculats
what is the average gait of the evening
up process. 1t can only be done with
dimes. The wide gulf between the results
of theory and those or practice Will be
strikingly shown when you attempt TO
pay a dime for the four eggs which Sa-
moan trade allows for sixpence. The
same thing may be seen in any shop by
proffering two dimes as the equivalent Of
a shilling. The most lucid arrangement
of the Samoan currency is in a table:
Two dimes don't make shilling.
A dime and a sixpence make a quarter.
IS cents make half a dollar.
SIS make s..
That table has not the sweet harmony
Of the tables in the arithmetic books; It
is little jerky in some of its steps. but
it represents the financial idea as it has
been developed under the torrid sun in the
Pacific.