Money Silver and Finance (Classic Reprint) - Hardcover

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Excerpt from Money Silver and Finance

India; dried cod at Newfoundland to bacco in Virginia; sugar in the West In dies; hides, leather, furs, etc., elsewhere. Circumstances too have forced the use of inferior money upon people who had grown accustomed to better; for 1nstance, our colonists adopted the money of the Indians along the coasts of Long Island Sound and made wampum (polished beads made of parts of the periwinkle and the clam-shell) a legal tender for sums up to twelvepence, and, by custom, made it the prevailing currency. The superiority of the white man was shown, however, by his ability to counterfeit this wampum, as Professor Sumner dryly mentions in his History a) American Currency.

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