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
Right here, before plunging deeper into the current of events which led
to the organization of Amalgamated--for what has gone before is only
that which I deem necessary setting for the story, necessary in order
that my readers may clearly take in its meaning--it is only fair to them
and to myself for me to say that my life has been spent in the
stock-market for the purpose of gain. I have never in my stock
operations set myself up for a philanthropist nor in any way posed as a
reformer, nor pretended to be a bit better than the business I had
chosen for a livelihood. From the first day until now I have endeavored
to keep strictly to the principle that I would never knowingly deceive
any man, woman, or child who, out of confidence in me, risked their
money in speculation or investment. At the same time it should be
remembered that the stock-brokerage business often makes queer
bedfellows. Moreover, the true stock-operator is sometimes tempted to
buckle on his armor and get into an exciting fight solely for the
combat's sake, and then he may not be over-concerned about the rights
and wrongs of the contention, if upon both sides are lined up
professional captains of finance. The minister, the college professor,
the dry-goods merchant, may exclaim against this, but they have never
known the delicious tingle which, since the abolition of the tournaments
of old, can be felt only on the great financial battlefields. If the
critics of the stock-gambler could be put through a single minute of a
thousand I have known they would be less brash in their denunciations.
And let it be remembered that in these terrific dollar-wars there is as
much opportunity for heroism, for generosity, for kindly deeds, as ever
physical fighting affords. I read here in the papers of the noble act
of a captain in the navy who has taken his life in his hands; in another
place of a rich man who has given a million to create a charity. On the
same page that these men are eulogized I will find references to "Jim
Keene, the stock-gambler," etc., "heartless, soulless stock-sharp," etc.
"Jim Keene, Stock-gambler," keeps no press agent to flaunt his kindly
acts, but from the noble things I know he has done, and the things
others with whom I am personally acquainted know he has done--men,
women, and children saved from misery, pain, and death, at the risk of
ruin to himself--I'll warrant the celestial scroll shows to his record
as many deeds of mercy and noble daring as are credited to any soldier
or philanthropist who has achieved worldly fame in recent years.
The desire for sudden wealth is strong in all parts of our American
community. Men want money, and women too, for a score of reasons--some
good, some bad--and the stock-market is the magical place where miracles
occur and dollars multiply themselves overnight. The agent for all the
cupidity of the world is the stock-broker, and he sees life from a
strange angle.
Public-domain text, read in full here on John Shaqi.
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