Frenzied Finance, Vol. 1: The Crime of AmalgamatedLawson, Thomas William
History
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
To-day the "System" and its methods are as clearly and as sharply
defined in the tangibility of their relation to the people as was ever
the Louisiana Lottery. On certain days the Louisiana Lottery sold its
tickets, which the people bought with their savings. On a certain day
the drawing took place, at which all those who had parted with their
dollars expected to receive them back together with immense profits, and
upon that day disappointment was spread broadcast among the many and
unhealthy joy among the few. So with the "System." On certain days the
public is sold their stock, bond, and insurance policy certificates.
Upon other days they look for their savings and profits. On the
contrary, they learn that their savings have decreased in value or have
been wiped out, and that there never was any chance of profit. My
critics will say that such a comparison cannot hold, for in the lottery
nothing was dealt in but gambling tickets, whereas the stock or bond
certificate represents an ownership in the material things of the
country. This is the fallacy the "System" spends millions every year to
foster and disseminate. Between the two the difference is in favor of
the Louisiana Lottery, for both are gambles and the lottery game was
square. Those who ran it had for their trouble a fixed percentage of the
profits, an enormous percentage, it is true, but the general fund was
never encroached upon by the controllers. Who is to say what percentage
the votaries of the "System" take in their game? It depends on how much
their victims have to lose. The public have been persuaded, too, that in
purchasing stocks they do not gamble, but only invest, or, at the worst,
speculate, so they are deceived as well as plundered. A few millions
each year satisfied the lottery owners; the votaries of the "System,"
among whom the "swag" must be divided, demand millions upon millions
each. The tickets of the lottery had a definite value at all times until
the drawing took place. The stocks and bonds of the "System" have no
rigid or unalterable value when issued or at any other time, and do not
represent a fixed ownership in all the savings of the people which have
been paid for them.
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