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“More Than a Parchment Three-Pence”: Crises of Value in Hawthorne's “My Kinsman, Major Molineux”

Published online by Cambridge University Press:  23 October 2020

Andrew Loman
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Abstract

In “My Kinsman, Major Molineux,” Robin enters Boston after negotiating the cost of a ferry ride across the Charles River, a negotiation complicated by the precipitous depreciation of the provincial bill he carries. His night in Boston therefore unfolds under the volatile sign of paper money. The story is one of several Hawthorne works to join the paper-gold debate of the nineteenth century, and it historicizes that debate with persistent allusions to related eighteenth-century currency disputes. The story's famous ambivalence springs in part from Hawthorne's cognizance of a historical irony: in the nineteenth century, Jacksonian Democrats attacked paper money as the instrument of a neoaristocratic moneyed power; in the eighteenth century, royalists stigmatized it as the instrument of the “Popular or Democratick Part of the Constitution.” The story is informed by the discomfiting fact that the eighteenth-century Tory and the nineteenth-century Democrat equally privileged gold over paper.

Type
Research Article
Information
PMLA , Volume 126 , Issue 2 , March 2011 , pp. 345 - 362
Copyright
Copyright © Modern Language Association of America, 2011

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