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)
Hundreds of wretched persons, the refuse of society, the very dregs
of the people, might be seen waiting with frightful eagerness until
their fate was decided. The courtesan was there, forgetting for a
time her avowed pursuit; the man who the night before had committed
some great crime; the pale artisan with his attenuated wife; the girl
just verging upon womanhood; the maid-servant, who had procured a
holiday to watch her fortune; weary forms and haggard faces, mingling
with the more robust and ruffianly aspects,—yet all bearing one
peculiarity, that of intense anxiety,—marked the purlieus of the
place where the lottery was drawn. The oath which shocked the ear,
the act which shocked the eye, the scurrilous language of the boy
ripe in mature iniquity, the scream of the child dragged from its
rest, to mingle in scenes it could not comprehend, formed a pictorial
group which Hogarth alone could have given to posterity, as an
evidence of civilization in the nineteenth century.
But it has been said, that the mischief was not confined to the
poorer classes. Persons of the first consequence entered into
insurances for a great amount. Instances are not wanting, in which
gentlemen of large landed property, guilty of no other extravagance,
lost all their cash, sold their estates, and died in the poor-house.
The “Morocco men,” so called from the red morocco pocketbooks
which they carried, were remarkable features in the lottery, half
a century ago. They began their lives as pigeons, they closed them
as rooks. They had lost their own fortunes in their youth, they
lost those of others in their age. Generally educated, and of bland
manners, a mixture of the gentleman and the debauchee, they easily
penetrated into the society they sought to destroy. They were seen
in the deepest alleys of Saint Giles, and were met in the fairest
scenes of England. In the old hall of the country gentleman, in the
mansion of the city merchant, in the butlery of the rural squire,
in the homestead of the farmer, among the reapers as they worked on
the hill-side, with the peasant as he rested from his daily toil,
addressing all with specious promises, and telling lies like truth,
was the morocco man found, treading alike the finest and the foulest
scenes of society. They whispered temptation to the innocent; they
hinted at fraud to the novice; they lured the youthful; they excited
the aged; and no place was so pure, and no spot so degraded, but,
for love of 7½ per cent., did the morocco man mark it with his
pestilential presence. No valley was so lonely, but what it found
some victim; no hill so remote, but what it offered some chance; and
so enticing were their manners, that their presence was sought, and
their appearance welcomed, with all the eagerness of avarice.
Public-domain text, read in full here on John Shaqi.
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