Legend of Yap’s Stone Money

Long ago in the villages of Yap people were always arguing about trading and doing business. They could never agree on a method of payment.

One night a chief stood at the seashore looking at the full moon. As he contemplated the problem of trading a thought came to him as he looked at the moon, “We should have something large, round, and beautiful like the moon to use for trading - always there like the moon, something that does not break or wear out or get stolen.”

When he told the other chiefs about his idea they agreed. But the problem now was what could be use to make this round object and where to find it. The hardest thing on Yap was the shale rock used for the stone paths but would not last. It was decided they must travel to a new land to find something to make this round object for trading.
Yapese had not sailed very far from their island at this time. They were not sure what was out there or if there were other islands and other people. They had seen canoes at sea other than their own and felt there must be life beyond their shores. They knew something must be beyond their own shores to use to make this object they wanted to use for trading.

Preparation for sailing began. Men built outrigger canoes and made weapons. Women gathered and prepared food for the voyage. The men set sail and went southwest for over a month. Food had run out when they sighted land. The people on the land were surprised to see strangers and defended their island. The Yapese explorers were killed.
When the canoes did not return chiefs of Yap became worried. They built more canoes, gathered, and prepared food for sailing hoping to find the missing warriors. The Yapese again sailed to the Southwest arriving at land a month later. This time the Yapese aware of the disappearance of the first explorers were more cautious. They were prepared when the people of the land came to defend it. This time the Yapese won the battle and were given land as compensation. The land was from Palau in Aungur.

Yapese men went all over the island looking for something round like the moon, and durable. There was nothing to be found but they did find a very large deposit of limestone. They began to carve a moon shape from the limestone. Adz, tools made from clamshell with a wood handle tied with coconut rope, were the only tools they had. They worked very long and hard to make the moon shape from the limestone. When they completed carving the round shape they looked at it and said “Iirarai” (which translated to English means THIS IS IT!). They simply called it “Rai”, which is the name still used today for stone money by the Yapese… Rai was very heavy and could not be carried easily. A hole carved in the center provided a way to put a bamboo or betelnut trunk through to allow the stone money to be carried by two or more men.

Now the adventures had something to return to Yap with. The rai was loaded on bamboo rafts and towed behind their canoes as they sailed back to Yap. When the chiefs and people came to welcome them home there was a great feast. The people of Yap were very proud of their rai. Important trading could be now done successfully.
The value of rai is not determined simply by size but by its history. The age, size, quality, color, and shape were factors of its value but the hardships suffered in acquisition were most important in determining value.
Ownership of Rai is passed from one person to another but is not necessarily moved. If it has a place in a stone money bank it is kept there even when the owner changes. Rai placed in village stone money banks or kept by men’s houses, outside homes, or businesses and is still used to trade for land, pay fines and as a gift to a bride’s family.

In 1929 there were more than 13,000 pieces of stone money on Yap.