It is scarcely an extreme statement that the so-called aristocracy of
our principal cities to-day is largely made up of men who are, or
once were, stock-brokers, or who have made their millions by some of
the forms of gambling which our easy-going euphemism styles modern
commercial aggressiveness. Certainly, a very considerable number
of our most splendid private residences have been built out of the
proceeds of successful ventures in the stock market, or the wheat pit,
or by some other purely speculative operations. Many stars have shone
brilliantly for a season, and then plunged precipitately from the
zenith to the horizon; and much has been wisely said as to the dangers
of speculation; but the fact remains that a great many vast fortunes
owe their existence to the broker’s office; fortunes which have been
salted down, as the phrase is, and now furnish support and titillation
for a leisurely, green old age, or enable the sons and daughters of the
original maker to live in luxury.
Whatever the American mother may feel as to her son becoming a
clergyman, there is no doubt that many a mother to-day would say
“God grant that no son of mine become a stock-broker.” I know
stock-brokers--many indeed--who are whole-souled, noble-natured men,
free from undue worldliness, and with refined instincts. But the
stock-broker, as he exists in the every-day life of our community,
typifies signally the gambler’s yearning to gain wealth by short cuts,
and the monomania which regards as pitiable those who do not possess
and display the gewgaws of feverish, fashionable materialism. There are
stock-brokers in all the great capitals of the world, but nowhere has
the vocation swallowed up the sons of the best people to the extent
that it has done here during the last thirty years. And yet, apart from
the opportunity it affords to grow rich rapidly, what one good reason
is there why a promising young man should decide to buy and sell stocks
for a living? Indeed, not merely decide, but select, that occupation as
the most desirable calling open to him? Does it tend either to ennoble
the nature or enrich the mental faculties? It is one of the formal
occupations made necessary by the exigencies of the business world,
and as such is legitimate and may be highly respectable; but surely it
does not, from the nature of the services required, deserve to rank
high; and really there would seem to be almost as much occasion for
conferring the accolade of social distinction on a dealer in excellent
fish as on a successful stock-broker.
Public-domain text, read in full here on John Shaqi.
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