Thus the first board is mostly filled with records of the numbers
and prices of National Cedulas dealt in, and the second with those
of whatever one or two kinds of shares may for the time being be in
fashion for what one may bluntly call gambling. For gambling, simply,
is the end of almost everything in the shape of speculation in the
ephemerally chosen media. It is in regard to this gambling that the
note of warning to the stranger already sounded may be repeated here.
The really Argentine public has long ago had its fingers sufficiently
often and severely burnt to have decided to give all Bolza speculation
a wide berth. And here one is brought face to face with a mystery which
the present writer has as yet been wholly unable to explain in any fully
satisfactory way.
This mystery is that, given the fact that the contributions of the public
to Bolza gambling have since long ago become a negligible quantity, it
seems clear that such speculation must be confined to a limited group of
Bolza operators.
How, therefore, is it worth the while of any of these operators to
survive for long as such? They are mostly, if not all, men of small
capital, very small in many cases, yet there they are, day after day,
busily occupied in attributing usually fictitious values to the shares
of one, or at most two (for the time being) companies. Up go the prices
of such shares, rising each day to giddier heights, till at last like
balloons they disappear from sight and another set of shares takes their
place as material for a boom. Who is the last man or men left with shares
at top price? And what on earth does he do with them? These be questions
the answers to which are hidden by a secrecy the completeness and
continuity of which do credit to the initiate few whose common interest
it is to maintain it.
Public-domain text, read in full here on John Shaqi.
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