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)
The history of its mismanagement is one of those strange records of
which the writer has seen so many during his search into the by-ways
of financial history. It must be in the memory of many, that, for
some years previous to 1824, the arm of the Greek was lifted in
resolute, though almost hopeless, resistance against the Ottoman.
When the intelligence reached England, that the nation whose tongue
was classic, whose statuary was regarded with despairing wonder,
whose records formed one of the finest pages of history, was, after
centuries of subjugation, striving to obtain freedom, a genuine
enthusiasm pervaded English society. The antique grandeur of Greece
was remembered; the ancient glory of her people brought to mind;
names which had roused the enthusiasm of schoolboys were repeated;
the clime which had produced the great men of a great age was in
every man’s thought; dreams of renewed glory were in every man’s
brain; and on every man’s tongue, and in every man’s heart, were
the virtues of that past world revived. Of this feeling the subtle
Greek availed himself, and negotiations were entered into to procure
a loan. The proposal was favorably received by the Stock Exchange.
In 1824, two agents of the Greek government, or deputies, as they
were popularly called, arrived in London; and loans to the amount
of £1,602,000 were raised for the service of Greece. This sum was
not placed uncontrolled in the power of the deputies, the sanction
of Mr. Edward Ellice, Mr. Joseph Hume, and another, being necessary
to its appropriation. After much hesitation, 50,000 sovereigns were
despatched to aid the cause; but when they arrived, the government of
that unhappy country refused to give any pledge as to their worthy
employment. The emissaries declined to part with their treasure
without; and, to the alarm of the Greeks, they saw this large amount
sailing from their shore. Any pledge would now have been given; and
the English emissaries were followed with protestations and promises,
which meant nothing but an earnest desire for the gold. Scarcely had
the ill-fated vessel returned, ere the yellow fever attacked the
crew. Helpless and dying, they reached the Asiatic coast; and their
money was taken by the Greek government with an avidity which did not
affect disguise.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account