The E-Sylum:  Volume 7, Number 14, April 4, 2004, Article 25

YAP STONE MONEY ARTICLE

  Steve Pelligrini writes: "There is an article in this month's issue
  of 'Archaeology' on the stone money of Yap. It was written
  by Scott M.Fitzpatrick, a young archaeologist who traveled
  to the Island of Yap to research his story.  The article is quite
  thorough covering the history, manufacture, denominations,
  uses of this most unusual form of coinage. For me the best
  part of the article chronicles the decline of the great stone
  disks as a store of wealth. This was brought about by an
  entrepreneurial Irish-American sea captain - a prototype of
  the 'Ugly American. It seems inflation was the culprit in this
  Micronesian economic saga as it has so often been in our
  own economic story."

  Wayne Homren, Editor

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