Banks and banking -- France -- History -- 19th -- Fiction
Of course the cleansing of the Augean stable of finance in this country
will prove a Herculean labour; but although callous Governments and
legislators may postpone and shirk it, the task remains before them,
ever threatening, ever calling for attention, and each day's delay
in dealing with it only adds to the evil. We are overrun with rotten
limited liability companies, flooded with swindling 'bucket-shops,'
crashes and collapses rain upon us, and the 'promoter' and the
'guinea-pig' still and ever enjoy impunity. It is becoming more and
more impossible to burke the issue. It stares us in the face. Even
if the various measures of political and social reform, about which
we have heard so much of recent years, should yield all that their
partisans declare they will, it is doubtful whether there would be much
national improvement. For the rottenness of our social system must
still remain the same; the fabric must still repose upon as unsound a
basis as it does now if the brigands of Finance remain free to plunder
the community and to pave their way to ephemeral wealth and splendour
with the bodies of the thrifty and the credulous.
One may well ask why this freedom should be allowed them. The man
in the street who wishes to lay odds against the favourite for the
Derby is promptly mulcted in pocket or consigned to limbo, but the
promoter of the swindling company, and the keeper of the swindling
'bucket-shop,' who deliberately defraud other people of their money,
are at liberty to ply their nefarious callings with no worse fate
before them than a short suspension of their discharge should they
choose to close their books with the aid of the Bankruptcy Court.
There cannot be two moralities, although a distinguished Frenchman,
the late M. Nisard, once tried to demonstrate that there were, and
was laughed to scorn for his pains. We know that there is but one true
morality--the same for the rich as for the poor, the same for the
legislator as for the elector, the same for the defaulter who dabbles
in millions as for the welsher who sneaks half-crowns. And it should
be borne in mind that the harm done to the community at large by the
thousands of bookmakers disseminated throughout the United Kingdom is
as nothing beside that which is done by the half thousand financial
brigands who infest the one city of London. It may, I think, be safely
said that more people were absolutely ruined by the crash of the
Liberator group than by all the betting on English racecourses over a
period of many years.
Public-domain text, read in full here on John Shaqi.
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