FOXTON

Manawatu Times, Volume LIV, Issue 6863, 19 March 1929, Page 5

FOXTON

“THE ROMANCE OF MONEY " From Our Own. Correspondent. At tlic monthly meeting of the Lunch chib, presided over by the Rev. AY. R, AA'nlton, Mr. AY. Truemnu gave an interesting address on “The Romance of Money,, to an appreciative audience. Money, said Mr. Trueman, was something in which one was most interested and yet he doubted if there were many who could give a correct definition of the word. It was something anyone would accept as payment for what a person wanted. Before the introduction of coins, people thought in terms of values. In the early days, the Germans and Danes lived merely by hunting the wild animals, which they killed for food. Before many years had elapsed, a shortage of animals was experienced and the people began to collect them and just use what was required, instead of killing indiscriminately. They became herd tenders and as such they obtained a surplus of animals, found an easier life and so the standard of living was raised and these primitive people lived in a primitive sort of comfort. In this state, the hunter thought in terms of skins, the farmer in terms of grain, the artisan in tools, each according to the effort required to produce the article in which he was interested. Then they began to covet each others’ possessions, one race coveted what another had and attacks were made one on the other and the people had to look to means of defence. Thus, these people who had coins thought in terms of value. The Grccciian people were early users of coins which were in the form of cowhide money. If a man owned a beast, he cut a square piece from its hide, wdiieh was used as a token that the man possessed the , animal and thus bartering was simplified. A man did not have to take his goods wherever he wished to trade but merely carried the token with him. This, however, lent itself to forgery and besides this, the token had no real value of its own, so the more valuable minerals w T cro adopted as tokens. They had a certain value in themselves and were compact, portable and easv to handle.

Measurement was first made by weight and the Romans adopted stamped bars of metal as tokens. The word pound was derived from the old Roman word meaning 12 ounces Troy of copper. Roman history was full of the wonderful exploits of the traders in those days. Trade was carried on with the natives along the shores of northern Africa where the Romans used to spread their goods on the beach and withdraw from the shore in their boat*. The natives would then leave the bush

and inspect the goods, placing bars of gold alongside the articles selected. The Romans w r ould then inspect tho articles and gold and if they did not consider the amount equivalent to the article offered, they again withdrew and the natives w r ould reinspcct the goods and place further bars of gold alongside the coveted articles. So the trade went on and tho Romans gradually established a gold currency. ' There was no real record, but from the antiquity of some of the Chinese coins, it is believed that China is tho home of the coin as wo know it to-day. For some reason their money first took the form of miniature knives and then became square shape, octagonal and round. The square coins wero not popular for long, as there was a danger of the corners breaking off and a circular coin with a hole in the centre took on. The reason for this was that the coins could be strung and worn in the form of jewellery. The ring as we know it to-day was first brought about by the bending of tbe bars of metal. The Chinese can also lay claim to being the first race to have paper money, which was manufactured from

tho leaves of the mulberry tree but this is challenged by tho early Egyptians, who used papyrus thousands of years ago. China’s first paper money was in tho form of certificates about 30 inches square. The Phoenicians used small scaled bags bearing a government seal to the effect that they contained a certain amount of gold and this was practically the first form oi State guarantee. The Roman bars of gold were branded and carried a State guarantee, but were stamped chiefly to prevent adulteration. An interesting fact about early Egyptian coinage was that they stamped out their first money in the form of a lamb, the inference being that the token was worth tho purchase price o* a lamb. Scripture makes reference to the lamb as a gift and when Job was troubled with the plague, his friends brought him a lamb as a gift. Genesis refers to the lamb as a piece of money. Coinage was largely governed by the rise or fall of a country. Tho Roman coin most popular at the height of fame of the Roman Empire was the cleparius, a silver coin worth approximately lOd. With Rome in power, money was congregated within the empire from all parts of the world but with its decline, the coinago became debased. The barbarians vrho overwhelmed the Romans found an enormous wealth of coins but knew no use for it and melted it down into various articles. There -was then experienced a serious money shortage, which was not relieved until Charles the Great established coinage again in the year 800 and re-established modern ctirrency in the west of Europe and coined the English pound, representing a pound of silver. Spain later became the centre of the money market, which later shifted to the Netherlands, across Europo to England. England, by her great colonising schemo brought great wealth to the British Empire which was not challenged until the recent Great War. The first public bank was established in the latter end of the sixteenth century and 1694 witnessed the first public* bank in England, it being inaugurated because of a desire on the part of the State to borrow from its people. Actual coinage was not now in very great demand, said Mr. Trueman in conclusion, because people did not wish to carry it around with them, broadly speaking. A mnn worth some thousands of pounds no longer had to carry the actual money about as credit system had been adopted which was a far more convenient method of dealing with large sums. • At the conclusion of his address Mr. Trueman was accorded a hearty vote of thanks by the chairman, which was carried by acclamation. Bowling.

The stage is now set for the final game to decide the Barr trophies competition. Tho following aro the players left in: M. E. Perreau and J. M. Thomson (s) to play B. Heppncr and S. Mattar (s). Shop Day. On Saturday a very successful shop day was held by tho'lady members of the Methodist Social Guild, as a result of which tho church ftmds will benefit by about £lO. Plunket Carnival. Matters in connection, with tho Plunket Baby carnival are progressing favourably and although no votes for any of tho three candidates have yet been recorded tho various committees all have funds in hand. Harbour Board. . The secretary of the Foxton Harbour board ha 3 announced that he is recommending the board at its next meeting to levy a rate of £SOO on the various contributing bodies. As the Borough of Foxton has to contribute the major portion of this amount, an increase in the Tates to be levied by the Borough council next year appears to bo inevitable. General. Herrings are very plentiful in the Manawatu river just now. This is due no doubt to the summer weather, when kahawai and schnapper eonrn close in to the shore and the smaller fish travel up tho river to escape them. A local angler caught 129 herrings of all sizes from a pound and a quarter downwards in a few hours over the week-end just below the Foxton wharf. Personal. Mr. E. Des Jardines has left Foxton to take up an appointment at Hawera. Mr. and Mrs. J. Parker, after a long residence in Foxton, left on Saturday to make a new homo in Palmerston North. Mrs. E. Parkin, of Johnston street, is visiting her son at Taihapo. Mrs D. Christie, of Avenue road, returned yestorday from Auckland, where she has been attending the wedding of her son James.