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)
and Mr. Fordyce, thinking his luck would be perpetual, ventured for
sums which involved his own character and his partners’ fortune.
The game was with him; the funds were constantly on the rise; and,
fortunate as daring, he was enabled to purchase a large estate, to
support a grand appearance, to surpass nabobs in extravagance, and
_parvenus_ in folly. He marked the “marble with his name” upon a
church which he ostentatiously built. His ambition vied with his
extravagance, and his extravagance kept pace with his ambition. The
Aberdeen hosier spent thousands in attempting to become a senator,
and openly avowed his hope of dying a peer. He married a woman of
title; made a fine settlement on her Ladyship; purchased estates in
Scotland at a fancy value; built a hospital; and founded charities
in the place of which he hoped to become the representative. But a
change came over his fortunes. Some political events first shook him.
A sensible blow was given to his career by the affair of Falkland
Island;[2] and he had recourse to his partners’ private funds to
supply his deficiencies. Like many, who are tempted to appropriate
the property of others, he trusted to replace it by some lucky
stroke of good fortune, and redoubled his speculations on the Stock
Exchange. Reports reached his partners, who grew alarmed. They had
witnessed and partaken of his good fortune, and they had rejoiced in
the far ken which had obtained the services of so clever a person;
but when they saw that the chances were going against him, they
remonstrated with all the energy of men whose fortunes hang on the
success of their remonstrances. A cool and insolent contempt for
their opinion, coupled with the remark, that he was quite disposed
to leave them to manage a concern to which they were utterly
incompetent, startled them; and when, with a cunning which provided
for every thing, an enormous amount of bank-notes, which Fordyce had
borrowed for the purpose, was shown them, their faith in his genius
returned with the possession of the magic paper; and it is doubtful
whether the plausibility of his manner or the rustle of the notes
decided them.
Public-domain text, read in full here on John Shaqi.
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