438 ANNUAL REPORT SMITHSONIAN INSTITUTION^ 1934 



utterly confused when they Avere haled before our system of writ- 

 ten contracts and mutual distrust so flagrantly a part of our system 

 of commerce. 



It is most obvious to see in the outcries of amazement which again 

 and again occur in the eye-witness reports of Spanish Conquerors 

 that they were astounded at two facts, (1) that anybody could have 

 a monetary unit which was not based on gold and silver, and (2) that 

 trade could be conducted without written contracts, signatures, and 

 lawyers. To their point of view, as well as to our present-day view- 

 point, a word of honor was a beau geste not to be trusted. This was 

 a natural state of affairs to the Spanish Conquerors because they 

 were soldiers of fortune, who believed only in the fortune they could 

 carry in their pockets. A bullion-in-breeches idea. It must have 

 been a terriffic shock to the Maya to discover that they must change 

 from their trade rule of trust to a rule of utter distrust. 



Again I quote Oviedo, a soldier, who had no ax to grind. In 

 his Libr. 32, chapter 2, vol. 3, p. 225, he says of gold : " One never 

 pays to the owners of this (gold) a fair equivalent, but only gives 

 them for one mark or two of gold a bell or a needle, or some pins, 

 and thus and accordingly things of little value * * *." 



This statement reveals clearly the contrast between the two sys- 

 tems of valuation, the two systems of monetar}^ units. It contrasts 

 the gold standard with the cacao-bean standard. 



We know that the Spaniards were rejoiced at how they were clieat- 

 ing the Indians on a gold standard, and I am inclined to believe that 

 the Indians were laughing at the Spaniards because they had ac- 

 quired rare and precious things, and only paid them in gold. 



In short, it is not the material that counts, but the value we 

 give it. 



BIBLIOGRAPHY 



Alfaro, Melchoe 



1579. Map of the State of Tabasco. In Relaciones de Yucatan, vol. 2 ; and 

 in Diaz, Bernal,, True history of tlie conquest of New Spain, Maudslay 

 edition. 

 Cardenas, Francisco 



1643. Relacion Historial Eclesiastica de las Provinci;is de Yucatan. Photo- 

 static copy of MS. in British Museum. 

 Casas, Bartolomb db las 



1909 edition. Apologetica Historia de las Indias. 

 1875-6. Historia de las Indias, Madrid. 

 Chaklot, Jean 



See Thompson, J. Erio. 



COGOLLUDO, DiElGO LOPEZ DB 



1867-1868 edition. Historia de Yucatan. 

 Columbus, Bartolome 



In Harrisse, Henry, Biblioteca Americana Vetustissima, 1866 edition. 



