Capitalists and financiers -- Fiction; Gold -- Fiction; South America -- Fiction; Wall Street (New York, N.Y.) -- Fiction
Congress turned its attention to temporary and special measures for
mitigating commercial and industrial distress. The general paralysis of
business continued, and everybody felt that the suspense would last
until the united action of the nations had settled the world’s monetary
policy. There was, therefore, a widespread feeling of impatience for the
assembling and the decision of the Paris conference.
Wharton and Brent found plenty to do in these intervening weeks. After
all they had done during October in fighting panic and distress, and
under Brent’s determination not to use any fresh capital from his store,
they were no longer able to dominate all markets with controlling hand
as they had done for months before. They accomplished much, however, in
steadying prices in the stock market, the loan market, and some of the
markets for staple produce and manufactures, and the lapse of time
without fresh serious disasters begot a sort of confidence in the
public mind. The administration, partly by means of its alliance with
the authors of the financial crisis, was able to do much in the same
line. Brent and Wharton were in constant communication with the
secretary of the treasury and the president, and they made frequent
trips to Washington for consultation.
On one of these occasions the president invited Brent to act as one of
the American delegates to the monetary conference. The young man
promptly declined.
“I want to keep out of the public eye as long as I possibly can, sir,”
he explained. “There are to be only two delegates from each country, and
the natural selection will be a leading statesman and a great financier.
If you should select an unknown man for a post more important than even
a seat in your cabinet, the country would be amazed, and then a great
hue and cry would be raised against you and against me. It would also
distinctly imperil the secret of the existence of this gold, which we
must guard at any cost. No, sir, I must not attend the conference in any
official capacity. I am prepared to go there and explain my position to
the members in secret session. That will naturally be expected of me.
But I must not be publicly identified with the conference and its
_raison d’être_ in any way whatsoever.”
“You are entirely right, Mr. Brent,” responded the president. “You are,
however, fully entitled to sit upon this board if you choose. I can
afford to ignore any public criticisms of my action in appointing you
until events bring my justification. But, as you have said, we cannot
afford to increase by a feather’s weight the danger of discovery of your
secret. I have decided to ask the secretary of the treasury to go as one
American representative. Can you suggest the second? Mr. Wharton might
be named with propriety. He has come before the public so prominently
during the last year as the director of vast financial schemes, that his
selection would be regarded as appropriate.”
Public-domain text, read in full here on John Shaqi.
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