Frenzied Finance, Vol. 1: The Crime of AmalgamatedLawson, Thomas William
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Frenzied Finance, Vol. 1: The Crime of Amalgamated
Lawson, Thomas William
Amalgamated Copper Co.; Gas companies -- Massachusetts -- Boston; Insurance -- United States; Speculation; Standard Oil Company
It is my purpose to do away with this extraordinary deception and to
show it up as one of the artifices with which tricksters, since the
beginning of the world, have imposed upon the people. There should be
nothing in finance that any man or woman of ordinary intelligence and
experience cannot understand, and I purpose to explain here the
machinery of the "System" so that every one will exactly understand it
from headlight to rear-end lantern. Many intelligent people have no
clear idea of what a certificate of stock or a bond really is, and the
words "money," "stock-exchange," and "finance" are mere terms which they
glibly use without knowledge of their meaning.
It is not difficult to understand the grocery or the dry-goods business.
Standard articles of well-known form are sold by weight or measure over
the counters for fair prices. The patrons of such businesses insist on
knowing what they are buying--what they are to get in exchange for the
money which is the fruit of their labor, and then, after they have been
told, and they trade, they require that the goods be as described or
they will know why not. The average American would consider it a huge
joke should his grocer undertake to induce him to buy one hundred times
more sugar than he could use, on the ground that he might find in the
sugar bags when he reached home gold and diamonds. But would he not
wrathfully seek the police if, after opening his sugar bag, for which he
had paid $1, he found it contained only 50 cents' worth of sugar? He
would tell you if you met him at this stage: "You can bet that chap on
the corner cannot get away with any such trick as that--not in America.
He might in Zanzibar or in the kingdom of the Sultan of Sulu, but I will
show him he cannot rob Americans in these enlightened times." The grocer
would be hustled to jail without a "by your leave," and thenceforward
his name would be a by-word among all honest tradesmen.
Public-domain text, read in full here on John Shaqi.
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