The Abominations of Modern SocietyTalmage, T. De Witt (Thomas De Witt)
Religion
The Abominations of Modern Society
Talmage, T. De Witt (Thomas De Witt)
Conduct of life
But, while there is a legitimate sphere for the broker and operator,
there are transactions every day undertaken in our cities that can
only be characterized as superb outrage and villany; and there are
members of Christian churches who have been guilty of speculations
that, in the last day, will blanch their cheek, and thunder them
down to everlasting companionship with the lowest gamblers that ever
pitched pennies for a drink.
It is not necessary that I should draw the difficult line between
honorable and dishonorable speculation. God has drawn it through every
man's conscience. The broker guilty of "cornering" as well knows that
he is sinning against God and man, as though the flame of Mount Sinai
singed his eyebrows. He hears that a brother broker has sold "short,"
and immediately goes about with a wise look, saying: "Erie is going
down--Erie is going down; prepare for it." Immediately the people
begin to sell; he buys up the stock; monopolizes the whole affair;
drags down the man who sold short; makes largely, pockets the gain,
and thanks the Lord for great prosperity in business. You call it
"cornering." I call it gambling, theft, highway robbery, villany
accursed.
It is astonishing how some men, who are kind in their families, useful
in the church, charitable to the poor, are utterly transformed of the
devil as soon as they enter the Stock Exchange. A respectable member
of one of the churches of the city went into a broker's office and
said: "Get me one hundred shares of Reading, and carry it; I will
leave a margin of five hundred dollars." Instead of going up,
according to anticipation, the stock fell. Every few days the operator
called to ask the broker what success. The stock still declined. The
operator was so terribly excited that the broker asked him what was
the matter. He replied: "To tell you the truth, I borrowed that five
hundred dollars that I lost, and, in anticipation of what I was sure I
was going to get by the operation, I made a very large subscription to
the Missionary Society."
The nation has become so accustomed to frauds that no astonishment is
excited thereby. The public conscience has for many years been utterly
debauched by what were called fancy stocks, morus multicaulis, Western
city enterprises, and New England developments.
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.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account