Capitalists and financiers -- Fiction; Gold -- Fiction; South America -- Fiction; Wall Street (New York, N.Y.) -- Fiction
“All right, Mr. Wharton, you may go in,” and the group stepped on either
side and bowed with mock humility to the young banker and his companion.
They were busy enough, and scores of their fellows also, in the
intervening six hours, in watching the effect of the great news upon
trade and finance, and in collecting the opinions of men whose advice in
such a crisis might prove valuable. The first effect everywhere in great
markets was paralysis. The tidings were so unexpected, so stupendous,
that even the masters of finance were dumfounded. There was no precedent
to guide them. They did not even know at first whether the news was good
or bad. Self-protection was the only instinct aroused in most cases, but
in what direction was this to be sought? Many put themselves on the _qui
vive_ to watch the tendency of the current, ready to act accordingly.
Brent and Wharton, in coöperation with some of the members of the Paris
conference, had made such preparations as were possible to prevent any
extreme fluctuations of values either way during the first hours
following the disclosure of the secret. The London, Berlin, and Paris
markets opening some hours before those of New York, set an example of
steadiness. So great was the popular timidity and hesitation that for
some hours the markets were almost stagnant. It was London, the
controlling head of the financial world, that preserved the general
equilibrium. It was apparent, before the close of the day’s business
there, that the new element suddenly added to the monetary situation was
not regarded as a serious menace to financial stability. Most of the
precautionary measures which had been provided in the principal centers
proved to be unnecessary. There was nothing extraordinary in the course
of the markets during the day in Europe or America.
Anxious hours for the two men in Strong & Co.’s New York office were
followed by genuine relief and satisfaction, when three o’clock came
without panic or serious disturbance in that most excitable of all
thoroughfares--Wall Street. The promised interview with the newspaper
men became a congratulatory reception. Brent felt an uncomfortable
resemblance between himself and a museum freak when the group of writers
was presented to him, but he speedily found himself chatting affably and
familiarly with gentlemen who regarded and treated him in no other way
than as a man of the world like themselves. They were genuinely
interested in the brief personal narrative which they encouraged him to
tell. He quite forgot that his companions were journalists. The
conversation was general and it didn’t become serious for some time.
Public-domain text, read in full here on John Shaqi.
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