Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1922-02-24

their share of this money to the gov

At the end of the stipulated period OF
, circulation, when the market house is
sue was returned to the treasury, the
governor proclaimed holiday-to burn
the money as per agreement with the
committee.
The people assembled in the market
house square, where the governor made
speech, reciting the conception Of the
plan to finance the erection of the mar
ket house, and explaining the service
which this paper money had perform
!: ed. Thereupon a fire was kindled, and
the governor, after sprinkling incense
on the money, consigned it to the
flames.
When the charred flakes had curled
and rolled away, the governor asked !:
Well, citizens, what do you wish to do
next?
Tear down the old houses along
Fountain street and rebuild, responded
the people.
Said the governor Too bad that we
burned the money, we could have used
1t again, could we not!
That's so, assented the citizens.
Well, said the governor, it is all
fright; merely wanted to demonstrate
to you that there Is, no danger Of an
over issue or in reissue Of currency
IL honestly done for honest purposes.
We will print another issue; the loss,
after all, is only the cost Of paper and
printing.
And SO, issue after Issue was made Of
this paper money, without a gold or
silver reserve behind 1t. 1t rebuilt
Fountain street; erected the sea wall;
built fine harbor; maintained an ex-
tensive network Of splendid roads; and
performed other works of necessity,
utility and identification.
For hundred years this paper mon
ey has continued, to- circulate, without
a metallic basis, and yet has performed
all the functions which human need
and progress require of it.
The Bank of Englands notes have,
except for the period of suspicion
which followed the first issue, general
" been regarded "as good as gold
whether they are, Is merely question
Of convenience and utility. To ascer-
tain what the Guernsey man thinks Of
his money, you may offer him payment
in his own currency and he will be sat-
isfied with 20 shillings to the pound;
offer him Bank of England's note and
he will demand an extra shilling for
each pound sterling. 1 do not say this
to discredit the Bank of England's note
Issues (they are as good or as bad as
any other promisory notes.; I merely
wish to demonstrate that the Guernsey
/ money is entirely satisfactory to the
Guernsey man. BY little story, / will
show that 1t was deemed good enough
also for the inhabitants of another is
land.
Prosperity Not Built Upon Gold.
In 1913, on a trip to Europe, landed
at Cherbourg, whence took a local
steamer for Guernsey, making an in
termediary landing at Alderney, anoth-
er Of the British Channel isles. The
object of my visit to Guernsey was to
observe the general conditions prevail
ing on the island and thereby deter
mine the effect of their money system,
at least on appearances.
found the streets clean and in good
condition; their houses in repair and
painted; the store windows scrupulously
clean, fronts painted, and in some in
stances grained and vanished. The
combined hospital and home for the
aged and infirm was surrounded by a
park and formed the most beautiful
portion Of the city. There was appar-
emily no poverty and no vulgar osten-
tation of wealth. for the elegant ladies,
with whom we dined at the govern
ment house On Friday, greeted us at
the market house. basket in hand, on
Saturday. The road system Of the is
land was ample and in excellent condi-
ton.
In my quest for information, I ap-
preached also those from WHOM I could
expect adverse opinions. One of these
was an Englishman.
"Mr. X" said I, what do you think
of your money system?"
That" he replied, lis most remarka-
BILE. 1 came to Guernsey II years ago
to engage in the cattle trade. To the
north Is another island named Alder
ney. I was told the islanders had some
very fine cattle, and went there to look
it over. 1 found the island in deplor-
able state; no activity Of any Kind. Pc
ter owed Paul, Paul owed Thomas and
Thomas owed Andrew. Everybody was
in debt to everybody else, AMI no one
had anything to pay with; all were de-
spondent and sullen.
"I opened conversation by saying:
you have some nice cattle here, and,
If you will register it. so that Il may be
pedigreed, will buy 1t from you" Well,
they had no objection to that If there
by they could sell the cattle, and help
ed them open a register. 1 also bought
cattle to the amount of 1000 pounds,
paving for it in Guernsey notes. then
departed and returned in five days to