The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1905-12-02
THE ORIGIN OF MONEY.
As Ornament for Women Served the
Both for Exchange snd Savings.

oolH ICl C&S1dIgc SHO SdsHiSo'
in 1898 | was busy with the study
oi me indian currency question, anc
went faithfully through the consider
able mass of evidence that was given
betor" Sir Henry Fowlcr's committee
II answer 10 the ten Thousand eight
hundred and tittys"vonth question
came across the following passage,
which, Il struck nc at once, had an
| interesting and important bearing on
tn" origin Of money. The witness was
Mr.. RomC&h Dutt. c. l. T.. a native
gent leman VINO has. il may b" said,
| made his mark in literature. In ref
! crCntc 20 iifo vast amounts Of money
spent annually by the natives on sill
yer ornaments. he was asked by ono
ot The members Of the committees:
would rot the country have been
benefited if t4iat molcy had been en-
ploycd instead of being allowed Ia lie
ldie Il do not think il lies idle,
replied Mr. Hutt. 'hccausc il serves
me purpose Of ornament and savings
Gank. AS regards savings banks
went Oh his intcrloctutor, '.is it not
very much moro economical and better
TO put your savings in some interest
bearing security than To tic il up in
Z Dag? The reply was very much
TO the point. IF an Indian cultiva-
tor, said Mr.. Dutt, had POO or 800
rupees IN the bank it would disappear
IN til" course Of year or so, but if
1t IS in the shape of his womcn's orna
ments he will keep them until he is
compelled by famine to part with ,
them
The silver serves the purpose of
ornament and savings bank" Mark |
the double function. Perhaps we have |
caught the transition of ornament into |
money in the very act of taking place. |
10 the shrewd Scotch banker vino put |
his questions to Nr. Dutt, the putting
by of 50 much annually in the shape
OF savings seemed so completely mat
ter OF course that it stood in need of
no explanation. The question how it
was mat saving first became possible
In the world is, nevertheless, a very
real problem. Share and share alike
was the unvarying rule among primi-
tive mankind. The sentiment that en-.
forced that rule, indeed, has survived
with considerable vigor into the mod
ern civilized period. There are, as we
know, large classes among ourselves
tor whom social opinion makes saving
practically impossible. Among races
Nhlch belong to an earlier stage OF
development the same sort of social
opinion is infinitely more powerful If
he Indian peasant had his 200 or 900
'upees in hand or under his imme
late control. the exisencies Of some
matrimonial or funereal function
night in day run away with the half
If it. If, on the contrary. those rupees
Ire melted down and made to take
he shape Of ornaments for his wo-
which, among the
ndlan peasantry, are almost the sole
ndeX OF social position and which
nable the whole family to hold up
heir heads among their neighbors-
othlng but very urgent necessity will
make him part with them. Thus the
esire for ornament first makes the
ccumulatlon of reserve for use in
tmost need possible. This is the
rst stage. Presently, no doubt, some
egree of consciousness of the double
urpose OF his ornaments begins to
nter into the thoughts of the peasant.
experience tells him that the posses
ion of store of bracelets and ban
les has warded off starvation from
lmself and his family in the past,
nd the possibility of the recurrence
evil days forms conscious reason
his mind for continually adding to
Is possessions in them. Thus after
fashion a circulation of ornaments
sens to have preceded in the world
le circulation of money-W. w. Car
le. in The Nineteenth Century for
ugust.