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)
In this elevation he meets his broker, who throws more fireworks into
the mine, and blows him up to so fierce an inflammation, that he
employs him instantly to take guineas to accept stock of any kind,
and almost at any price; for the news being now public, the artist
made their price upon him. In a word, having accepted them for fifty
thousand pounds more than he is able to pay, the jobber has got an
estate, the broker two or three hundred guineas, and the esquire
remains at leisure to sell his coach and horses, his fine seat and
rich furniture, to make good the deficiency of his bear-skins; and,
at last, when all will not go through it, he must give them a brush
for the rest.
There are who tell us, that the Exchange Alley improvements made upon
the news of the Pretender’s being taken, were part of the plot, that
the late Earl of Mar having concerted the voyage of Voghera, and how
and in what manner the report of the Pretender’s being there should
spread, who it should amuse, and how at one blow it should spread
east to Vienna, and northwest to Paris, and so on, forgot not to
contrive it, as at once should serve political ends in Italy and at
Vienna: so, on the other hand, it should not fail to serve a private
view in Exchange Alley; and, at the same time that he deceived some
of the Whigs who he owed a large grudge to for shrewd turns at
Preston and Dumblain, he might also raise a tax upon them towards the
incident changes of his wandering circumstances.
I do not aver this story to be true, but the concert is so exact, and
the nature of it so agreeable to the stock-jobbing art, nay, and to
the artists also, whose correspondents are very punctual, especially
since it is said that Mr. T——’s chief agent was formerly my Lord
M——r’s broker; that I won’t affirm it may be true; but this I will
venture to say of it, that if we are often served thus, the Pretender
may very easily raise a hundred thousand pounds a year in Exchange
Alley, for the carrying on an invasion, and lay the tax wholly upon
his enemies the Whigs, which, by the way, I leave them to consider of.
Public-domain text, read in full here on John Shaqi.
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