Chronicles and characters of the stock exchangeFrancis, John, of the Bank of England
History
Chronicles and characters of the stock exchange
Francis, John, of the Bank of England
Speculation; Stock Exchange (London, England)
A Scotchman, named Gregor MacGregor, claiming to be chief of the
clan which bears his name, formed the idea of creating a settlement
on the shores of the Black River. The first appearance of this
man in a public character was in the service of the patriots of
Spanish America. Under the florid title of “General of Brigade of
the Armies of the United Provinces of New Granada and Venezuela,
and General-in-chief of the Armies destined against the Floridas,”
he succeeded in seizing a place known as Amelia Island, which he
proposed to use for purposes of aggrandizement. His views proving
fallacious, he vacated it, and was next heard of as carrying, with
a trifling force, the rich town of Portobello. Here he addressed to
his men a manifesto, in which gold and glory, plunder and patriotism,
equally occupied its periods. Scarcely was it issued, however, ere
the force of MacGregor was surrounded, and the great general could
only save his life by leaving his followers, leaping out of the
window in his shirt, and swimming on board his ship. It is probable
that, during these campaigns, the idea of a settlement first occurred
to MacGregor, as, not long after their conclusion, he proposed a
plan of emigration about to be related; a plan by which colonization
was to extend to that part of America known as the Mosquito country.
The more pleasing title of Poyais was given; the Stock Exchange was
employed to circulate some bonds for a loan of £200,000, at eighty
per cent., on the security of the country; and a land renowned
for its inhospitable climate was puffed into a most undeserving
celebrity. Every device of human ingenuity was practised. Books were
published in which the climate of paradise seemed uncongenial by that
of Poyais. The air was soft and balmy; the sun and sky were alike
fructifying; the soil yearned to yield its fruits; the water ran over
sands of gold. Grain was to grow without sowing. Tortoise-shell,
diamonds, and pearls were plentifully promised; and, to the least
imaginative, the most glowing realms of the Pacific grew pale in
comparison with a region where the sun was ever bright, and the soil
ever yielding. Labor would be superseded, life commenced in hardship
would end in luxury; while gorgeous pictures of “the finest climate
and most fertile place in the world,” excited the undisciplined
imagination of those who had the money necessary to convey them
thither. A song, to be paid for by a company of Poyais lancers, was
chanted in the streets; and the attention of the passing crowd was
attracted by hired ballad-singers. The new home was to be graced with
a knight of the Green Cross, a colonel to command, three legislative
houses to guide its affairs, and a sovereign in the person of Gregor
MacGregor, under the romantic title of Cacique of Poyais. An agent
was employed to make sales of land, and, unhappily, the applicants
were numerous.
Public-domain text, read in full here on John Shaqi.
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