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
Every profession has its social grades. Even crime is not without an
aristocracy. There are as many classes of crooks as there are things to
steal, and the more dangerous the theft, the more distinguished is the
criminal in the eyes of his professional brethren. In the thieving
fraternity the burglar and the highwayman figure as important persons,
for do they not take their lives in their hands every time they "pull
off" a trick? He who signs another man's name to a check requires fine
dexterity to be successful and endangers his liberty for a long term, so
the forger is of high consequence. Pickpockets and sneak-thieves stake
freedom on the agility of their fingers and legs, and are the small fry
of the fraternity, yet figure as legitimate practitioners. But the
confidence man, he who goes forth among rural communities disguised as a
clergyman or doctor, and wheedles money out of some unsuspecting
fellow-creature by means of the trust he has inspired, ranks low in the
estimation of his plucky brethren of the jimmy and the black-jack. Force
they respect; stealth they despise. The burglar is frankly a burglar;
the confidence man conceals his plundering purpose under the aspect of
respectability. He is doubly a knave in that he pretends to be honest.
The Utah trick performed by the "System," as described in my last
chapter, was essentially a confidence operation. The men who executed it
had the reputation and appearance of honesty, and their victims were
hypnotized into security by accepting standing in the community, great
business prestige, and enormous wealth as guarantees of individual
probity. The only capital employed in capturing three millions of "made
dollars" and the control of a great corporation was respectability. I
contend, then, that the magnitude and success of the deal do not make it
less despicable.
Public-domain text, read in full here on John Shaqi.
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