Graham's Magazine, Vol. XXXI, No. 3, September 1847Various
General
Graham's Magazine, Vol. XXXI, No. 3, September 1847
Various
Literature -- Periodicals; Literature, Modern -- 19th century -- Periodicals
In a day or two I found, much to my chagrin, that the stock I had so
fortunately purchased, instead of being on the high road to one hundred
and ten, began to grow tired of advancing, as though it were leg-weary,
and turning suddenly about, took, like a school-boy coming home, “cross
lots” the shortest possible way back to its old position on the wrong
side of par. I ascribe this sudden change to two causes; first, _I_ was
the owner of some of the stock, which reason was enough of itself to
knock down that or any other security; as I never in my life touched any
thing of the kind that did not immediately become “heavy,” and of less
value than it was before. Tom Moore complained most beautifully of
similar ill-luck, and said, in his own inimitable way,
“I never nursed a dear gazelle,
To glad me with its soft black eye,
But when it came to know me well,
And love me, it was sure to die.”
And I can and do say with more truth, (for Tom evidently fibbed, or
rather made Hinda do so,) and with equally good rhymes, that
I never bought a single mill
Of stock, in that vile street named Wall,
That rose a peg, or e’en stood still;
Dod rot it!—_it was sure to fall._
Secondly, a paragraph appeared in the Herald, saying something about
England and war; and this circumstance, combined with the fact of my
being a holder, was too much for Ohio sixes, and down they went. Nothing
short of a miracle could have sustained them under such a pressure. But
this was not all; for, in the incipient stage of the panic which
followed, the wind suddenly veered round to north-east, and a storm came
on to increase the difficulty. Such a scene as ensued has rarely been
witnessed since Wall street became a theatre for speculation. Faces
became elongated many hundred feet in the aggregate; eyes opened to
their widest capacity, and seemed to be looking wildly about for that
greatest of bug-bears, the British; and every speculator’s heart, like
Macbeth’s, did
————“Knock at the ribs,
Against the use of nature,”
as though some terrible calamity, involving the annihilation of every
thing in the shape of stocks and money, were impending.
If some giant from another globe had come upon the earth, and suddenly
knocked the foundation stones from under that noble structure, the
merchants’ exchange, the crash would hardly have been greater or more
alarming than that which took place, on the day in question, among the
stocks. I stood silently by, and saw my property vanish, as it were,
before my eyes; but I will not attempt to describe my feelings, for I am
sure that I should not be able to convey an idea of them to the reader’s
mind. Suffice it to say that I was hurt—cut to the very soul.
“Farewell, Niagara, Quebec, and Montreal,” thought I; “if I can keep out
of the almshouse, the way things are going, I shall be remarkably
lucky.”
Public-domain text, read in full here on John Shaqi.
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