148. Selection of a predominant ware. Crawfurd, in his history of the Indian Archipelago, mentions a number of different articles used there as money,—cakes of beeswax, salt, gold dust, cattle, and tin.[316] The tin coins are small irregular laminæ with a hole in the center, 5600 of them being worth a dollar. Brass coins which come down from the Buddhist sovereigns of Java are still met with; also other brass coins introduced by the Mohammedan sovereigns. In the museum at Vienna copper rings, bound into a circle, inclosed in a fibrous envelope, are another form of money. The selection of a predominant ware is shown in such cases as the one described in Ling Roth.[317] When Low was at Kiau, in 1851, beads and brass wire were wanted. When others were there some years later the people all had their hearts set on brass wire. The Englishmen "distributed a good deal of cloth, at reasonable rates, in exchange for food and services rendered." In 1858 they found that even brass wire, unless of very great size, was despised, and cloth was eagerly desired.
One thing which helped the selection of a predominant ware was that only a specified article would make peace, atone for a wrong, compose a quarrel, or ransom a captive. Also various articles obtained such prestige, on account of age and the glory of ancestors, that the possession of them conferred authority and social importance on their owners. Such are porcelain jars in Borneo, bronze drums in Burma, bronze cannon in the East-Indian Archipelago. Many African chiefs stored up ivory tusks for social prestige long before the white men came and gave them value in world commerce.[318]
149. Stone money in Melanesia. We must, however, turn our attention to Melanesia where the shell and stone money have been pushed to a most remarkable development, quite out of line with the rest of the Melanesian civilization. On the Solomon Islands there are some petty reef communities which occupy themselves solely with fishing and making shell-bead money.[319] On New Britain divarra is made by boring and stringing fathoms of shell money. A fathom is worth two shillings sterling, and two hundred and fifty fathoms coiled up together looks like a life buoy.[320] In the northwestern Solomon Islands the currency consists of beasts' teeth of two kinds,—those of a kind of flying dog and of a kind of dolphin. Each tooth is bored at the root and they are strung on thin cords. These people also use the small disks of shell, five millimeters in diameter and from one to one and a half millimeters thick.[321] The shell money of New Britain has very great influence on the lives of the people. It minimizes the evil and fatality of war, in which every life and every wound must be paid for. It establishes the right of property. It makes the people frugal and industrious, and makes them a commercial people. To it may also be attributed their selfishness and ingratitude. "Its influence is supposed to extend even to the next life. There is not a custom connected with life or death in which this money does not play a great and leading part.... Take away their money and their secret societies sink at once into nothing, and most of their customs become nothing."[322] Evidently the missionary testifies that the money stimulates commercialism with all its good and ill. Coils of feathers which are spoken of as money are also reported from the New Hebrides and Santa Cruz. Feathers are attached with resin to the outside of coils, inside of which are charms, each possessing a protective property. This money is very rare and, if shown, may be handled only by the owner.[323] Our information as to the commercial uses and effects of these island shell moneys is very imperfect. The money seems to be still on the stage of gems. It is used to buy steps of rank in the secret society, which cost pigs and money and mark social importance, which is, like other forms of force, regarded as supernatural. Rank can be gained only by the consent of those who already have it.[324]
150. Plutocratic effects of money. It must not be understood that the money, on the barbaric stage, enters into the struggle for existence, at least for food. There is only slight organization of labor. Each one produces what he needs. There is little luxury. "Nevertheless, money plays the chief rôle in the life of the people. The man, regarded as an animal, has enough to do to support life. If he wants a wife, wants to found a family, wants to be a member of the state, he must have money."[325] It is evident that the circulation of this money must produce phenomena which are unfamiliar to us.
The estimate placed by the Solomon Islanders on great stones of aragonite, obtained in the southern Palau islands, is such that they incur great risks in going to get them in their frail boats.[326] The pieces have the appearance of our own grindstones. They are set in rows by the men's clubhouses, and are in care of the chiefs. Christian mentions two of the Big Houses on Yap with stone money piled against the foundations. One piece was twelve feet in diameter and one and a half feet thick, and had a hole in the center two and a half feet in diameter.[327] A certain Captain O'Keefe, in 1882, fitted out a Chinese vessel and brought thousands of pieces of money from Palau to Yap. He brought the whole island in debt to himself. Nowadays they want big stones. Such six feet in diameter are not rare. This kind of money is the money of the men; that of the women is of mussel shells strung on strings. The exchange of a big piece for smaller kinds of money involves considerations of rank. Two of equal rank, and well disposed, exchange by dignity; if one is inferior, the good will of the other is requisite. The glass and porcelain money on Yap must have come from China or Japan. It has controlled the social development of the islands. It is also noticeable that other things of high utility, e.g. the wooden vessels in which yellow powder is prepared, or in which food is set forth at feasts, are made the objects of exchange, and, at the making of peace after a fight, or at other negotiations, affect the relations of tribes.[328] At the present time bags of dried cocoanut are employed as a medium of exchange, probably in intergroup trade.[329] What Kubary[330] says about the use of the money shows that it has no proper circulation. It accumulates in the hands of the great men, since it is used to pay fees, fines, gifts, tribute, etc. The armengol women, marriages, and public festivals start it out again, and on its way back it performs many social services. It is also reasonable to suppose that, having got a footing on these islands, it spread to others by social contagion. This explains the presence of a general medium of exchange amongst people who are otherwise barely out of the stone age.[331] The tales about the crimes which have been connected with the history of great pieces of the aragonite stone[332] remind us of the stories about the greatest diamonds yet found.
151. Money in northwestern North America. In South America nothing served the purposes of money. There was none in Peru. Metal, if they had any, was used by all for ornament.[333] Martius, however, says of the Mauhes that they used seeds of paullinia sorbilis as money. They obtained from the seeds a remedy for skin disease and diarrhœa.[334] The Nishinam of California had two kinds of shell money, ullo and hawok. The former consists of pieces, one or two inches long and one third of that in width, strung on a fiber. The pieces of shell take a high polish and make a fine necklace. The hawok is small money by comparison. A string of the large kind was worth ten dollars. It consisted of ten pieces. A string of one hundred and seventy-seven pieces of the small kind sold for seven dollars. In early days every Indian in California had, on an average, one hundred dollars' worth of the shell money, the value of two women (although they did not buy wives) or three average ponies.[335] The Hupa of California will not sell to an American the flakes of jasper or obsidian which they parade at their dances. They are not knives, but jewelry and money amongst themselves. Nearly every man has ten lines tattooed across the inside of his left arm. A string of five shells is the standard unit. It is drawn over the left thumb nail. If it reaches the uppermost tattooed line it is worth five dollars per shell.[336] They also grind down pieces of stone which looks like meershaum into cylinders one to three inches long, which they wear as jewelry and use as money.[337] The Eskimo of Alaska used skins as money. Here the effect of intergroup trade has been to change the skin which was taken as the unit. It is now the beaver. Other skins are rated as multiples or submultiples of this.[338] In Washington Territory dentalium and abelone shells were the money, also slaves, skins, and blankets, until the closer contact with whites produced changes.[339] The Karok use as money the red scalps of woodpeckers which are rated at from $2.50 to $5.00 each, and also dentalium shells of which they grind off the tip. The shortest pieces are worth twenty-five cents, the longest about two dollars. The strings are generally about the length of a man's arm. They were worth forty or fifty dollars a string, but have fallen in value, especially amongst the young.[340] The copper plates which are so highly valued on the northwestern coast may be esteemed holy on account of the ring in them. Slaves are killed and their flesh is used as bait in catching the dentalium snails, perhaps in order to get a mystic idea into the shells of the snails.[341]
152. Wampumpeag and roanoke. On the Atlantic coast shell money was made on Long Island Sound and at Narragansett from the shell of the round clam, in two colors, white and purple, the latter from the dark spot in the shell. These were bugles, the hole running in the thickness of the shell. They were called wampumpeag, were sewed on deer or other fine skins, and the belts thus made were used to emphasize points in negotiation or in treaties, or in speeches. Farther down the coast beads were made like flat button molds, with holes bored through them perpendicularly to the plane of the shell, and called roanoke. These beads, of both kinds, but especially of the former kind, spread by exchange into the Mississippi Valley, and in the middle of the nineteenth century they had reached the upper waters of the Missouri River.
153. Ring money; use of metal. The standpoint of the Vedic hymns is that the cow is the real measure of value, but metal, especially gold, is used for money in the payment of penalties and weregild. The objects at stake in formulæ of oaths and of duels were estimated in gold.[342] There was therefore a pure gold currency. In ancient India, however, silver and copper were also used and locally some coins of lead and mixed metals occurred. In value one of gold equaled ten of silver, and one of silver forty of copper.[343] The most ancient money of China consisted of shells,[344] also of knives and dress patterns of silk.[345] The knives had rings at the end of the handle and were gradually reduced to rings of metal as money.[346] The same ancient king who established measures of length and capacity is the legendary author of money (2697 B.C.). He fixed the five objects of exchange,—beads, jade, gold, knives, textiles. The sign for money was combined of the signs for "shell" and "to exchange."[347] We hear that the Chinese emperor, 119 B.C., gave to his vassals squares of white deerskin, about one foot on a side, embroidered on the hem. He who had one of these could get an audience of the emperor.[348] We are inclined to connect with that usage the use of a scarf of bluish-white silk in central Asia, which was used in all greetings and ceremonies. A certain quality of this scarf was used in places as the unit of value.[349] Przewalsky mentions the chadak which is given to every guest in southern Mongolia, for which another must be given in return. In Chalcha chadaks are used as money, not as gifts.[350] An intragroup money of copper or brass rings is also reported from Korintji on Sumatra. They are cast of three sizes, so that one hundred and twenty, three hundred and sixty, and four hundred and eighty are required to equal a Dutch gulden.[351] In the Old Testament the bride price and penalties were to be paid in money.[352] Gifts and fees to the sanctuary were to be paid in kind.[353] If the sacrificer wished to redeem his animal, etc., he must pay twenty per cent more than the priest's assessment of it.[354] Until the Exile the precious metals were paid by weight.[355] The rings represented on the Egyptian monuments were of wire with a round section. Those found by Schliemann at Mykenæ are similar, or they are spirals of wire.[356] In Homer cattle are the unit of value, but metals are used as media. The talent is mentioned only in reference to gold.[357] Possibly Schurz is right in supposing that fluctuations in the value of cattle and sheep forced the classical nations to use metal.[358] The metals were in the shape of caldrons or tripods, in which fines were imposed. They may have been accumulated because used as money, or a great man who had many clients may have needed many for meals.[359] "The transition from the old simple mode of exchange to the use of currency can nowhere be better traced than amongst the Romans." Fines were set in cattle or sheep, but copper was used as well, weighed when sold. Then the state set the shape and fineness of the bars and stamped them with the mark of a sheep or ox. Later the copper was marked to indicate its value, and so money was reached.[360] Amongst Germans and Scandinavians the cow was the primitive unit of value.[361] It was superseded by metals used in rings to make out the fractions.[362]
154. The evolution of money. It is evident that money was developed out of trade by instinctive operations of interest, and that money existed long before the idea of it was formed. The separate operations were stimulated only by the most immediate and superficial desires, but they set supply and demand in motion and produced economic value thousands of years before any man conceived of value. The rational analysis of value and money is not yet satisfactorily made. There are, therefore, points of view in which money is the most marvelous product of the folkways. The unconsciousness of the operation and the secondary results of it are here in the strongest contrast. Inside of the we-group useful property was shared or exchanged in an infinite variety of ways, according to variations of circumstances. We cannot follow the customs which thence arose, because the phenomena have been reported to us without distinction between intragroup and intergroup transactions. We see groups of predominant wares set out in intergroup trade, and only slowly is a smaller number segregated to be the general terms of every trade. The inconvenience of barter was only slowly felt, and could not have been a motive until trade was customary and familiar. In intragroup exchanges the predominant ware was more easily differentiated. It was the thing greatly desired. Here the amulet-trophy-ornament was important for the elements of superstition, vanity, and magic which it bore. In intergroup trade the utility of the object predominated. It was sought in journeys only for its utility, and in that trade the transactions first became impersonal. In the selection of leading wares individuals could not experiment for their own risk. By taking what each wanted at a time selection at last resulted, and when we are told that a certain group uses this or that group of articles for money, we are told only what articles predominate in their desires or transactions; in other words, what stage in the selection of a money they have reached. It is evident that this entire operation was an impersonal and unregulated play of custom, which went through a long and varying evolution, but kept its authority all the time and at every stage. The persistence of the word "shilling" in our language is a striking proof of the power of custom—above all, popular custom—in connection with money. The metric system was invented to be a rational system, but the populace has insisted on dividing kilograms and liters into halves and quarters. Language, money, and weights and measures are things which show the power of popular custom more than any others. The selection of predominant wares reached its acme in the selection of one, not necessarily the commodity most desired, but, after the function of money is perceived, the one which performs it best. To return and take up a greater number is to go backward on the path of civilization.
155. The ethical functions of money. From shells to gold the ethics of social relations has clung to money. There is more pure plutocracy in Melanesia than in New York. The differentiation of men by wealth is greatly aided by money, because money adds immensely to the mobility of wealth and lets all forces reach their full effect in transactions. The social effect of debt is best seen in barbarous societies which have money. Debt and war together made slavery.[363] It is, however, an entire mistake to regard a money-system as in itself a mischief-working system. The effect of money is exhausted when we notice that it makes wealth mobile and lets forces work out their full result by removing friction. So soon as there is a money there is a chance for exchanges of money for goods and goods for money, also for the loan and repayment of money at different times, under which transactions interests may change and speculation can arise. These facts have always interested the ethical philosophers. "Naught hath grown current amongst mankind so mischievous as money. This brings cities to their fall. This drives men homeless, and moves honest minds to base contrivings. This hath taught mankind the use of villainies, and how to give an impious turn to every kind of act."[364] In such diatribes "money" stands for wealth in general. Money, properly speaking, has no more character than axes of stone, bronze, iron, or steel. It only does its own work impersonally and mechanically. The ethical functions and character ascribed to it are entirely false. There can be no such thing as "tainted money." Money bears no taint. It serves the murderer and the saint with equal indifference. It is a tool. It can be used one day for a crime, the next day for the most beneficent purpose. No use leaves any mark on it. The Solomon Islanders are expert merchants and "are fully the equal of white men in cheating."[365] They do it with shell money as whites do it with gold, silver, and banknotes. That is to say, the "money" is indifferent because it has no ethical function at all and absolutely no character.