The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-08
PAID In ALUMINIUM.
Little Town Dairy Business with New
Kind of Fiat Money.

AAAh4u VI 1OhCy
Webster City Qa.) Special to Minneapolis
Journal.
The latest scheme in the fiat money has
broken out in Williams, a small town east
of this city. where aluminium dollars. half
dollars. quarters, etc., are in common use
and pass current. They are redeemable at
several Of the stores. The scheme is a local
one of the merchants to increase the volume
of money in circulation in the community
and to move the crops" 1t draws trade
from a distance to the town for the reason
that there Is a premium on the fiat money,
strange though this may seem.
Dollars, halves, quarters, dimes and s.
cent pieces made of aluminium. properly
stamped, circulate In Williams in all man
ner Of business transactions. One can buy
any quantity Of anything at the same prices
as for Uncle Sans money In nearly all the
stores, restaurants, furniture stores and,
some say. in stamps at the postofice. In
fact, the dealers when selling goods do not
know whether the purchaser is to have 1t
charged, paved in United States money or
aluminium coins.
A few months ago an association of these
dealers put up $40, 900 and established a but
ter and egg business. They hired a man to
run it and he buys all. or nearly so. the
butter and eggs that come to the town. He
pays 2 or 3 cents more a dozen for eggs and
2 or 3 cents more a pound for butter than
any Of the adjoining towns do or can af-
ford to on the Chicago or New York mar
kets. But these higher prices are to be
paid In aluminium coin. When the farmers
wife wants Uncle Sans money she gets
the cash market prices in other towns. She
has her choice, and in either case is salts
fled.
The dealers retail all the butter and eggs
needed by consumers in Williams at the
prices for which other towns are selling.
The surplus is shipped to the Eastern mar
kets, and, as may be supposed, they handle
big lots and ship where they can get the
best prices or sell to travelling buyers as
they come along. The concern lost q little
money for the first two months. and, fur
thermore, expects to lose something every
year. But owners of the stock say their
share of the presumed and inevitable loss
of the business will not be as much as
though they bought and sold butter and
eggs in their own stores.
As to the other part OF the business.
Storekeepers are as anxious TO get hold of
these aluminium dollars as the coin OF the
realm. for this r~eason-they can go TO the
butter plant and get dollar for dollar by
exchanging aluminium for silver, bank
notes or gold.
1t seems to be an endless chain of fat
money, and very elastic In moving the
farmer likes the plan. for he is sure of n
cash market for all he has to sell. If he
takes aluminium dollars, they are good at
any time at any one of a dozen or more
places of business, and ii requires no pass
book nor due bills or book accounts at the
store.
OF course, there are some critics who say
business transacted IN this way will result
i'm financial loss or even in times OF business
the business men of Williams who are i'm
the scheme say IL is one of the greatest
plans for drawing trade that they ever hit
upon.