The Daily

Posts Tagged ‘bohemia’

A Penny Saved Is a Waste of Time

November 4, 2014 | by

How our coins got their names.

1909_US_Penny

The 1909 penny.

Election Day is here again, and I know there are some single-issue voters out there who haven’t forgotten an issue of our time that Congress has repeatedly failed to act on, despite the introduction of bills HR 3761 in 1989, HR 2528 in 2001, and HR 5818 in 2006. President Obama has stated that he is in favor—the lobbyists for outnumber the lobbyists against—and yet the Price Rounding Act, the Legal Tender Modernization Act, and the Currency Overhaul for an Industrious Nation (COIN) Act, respectively, have all failed to pass. As a nation, we have yet to abolish the penny.

A penny costs more to produce than it is worth (even after the 1982 change from a 95 percent copper composition to 97.5 percent zinc), so the U.S. loses tens of millions of dollars a year minting them; the sheer cost of lost time spent hunting for pennies, waiting in line behind someone else hunting for pennies, and disposing of pointless pennies once we have them has been estimated at as high as a billion dollars a year. No coin in U.S. history has ever been worth less than a penny is today, by a long shot: the half cent, eliminated in 1857, was worth more than a dime in today’s buying power. A penny saved may be a penny earned, but it is about two seconds of income for an average American, so who cares. Yet again, the Ben Franklin for our time turns out to be Andy Warhol: “I hate PENNIES. I wish they’d stop making them altogether. I would never save them. I don’t have the time. I like to say in stores, ‘Oh forget it, keep those pennies. It makes my French wallet too heavy.’ ”

One thing we’ll lose, when the penny eventually goes the inevitable way of the half cent and the Canadian penny (extinct as of 2012), is the last possible link between our language of money and the everyday physical world. Read More »

9 COMMENTS

La Vie Bohème

March 26, 2014 | by

Robert Frost was born on this day in 1874.

Robert_Frost_NYWTS_5

Robert Frost, the poet and novice martial artist. Photo: Walter Albertin

FROST

Among other things, what [Ezra] Pound did was show me bohemia.

INTERVIEWER

Was there much bohemia to see at that time?

FROST

More than I had ever seen. I’d never had any. He’d take me to restaurants and things. Showed me jujitsu in a restaurant. Threw me over his head.

INTERVIEWER

Did he do that?

FROST

Wasn’t ready for him at all. I was just as strong as he was. He said, “I’ll show you, I’ll show you. Stand up.” So I stood up, gave him my hand. He grabbed my wrist, tipped over backwards and threw me over his head.

INTERVIEWER

How did you like that?

FROST

Oh, it was all right.

 

—Robert Frost, the Art of Poetry No. 2, 1960

 

2 COMMENTS