The Consolidator; or, Memoirs of Sundry Transactions from the World in the MoonDefoe, Daniel
Science
The Consolidator; or, Memoirs of Sundry Transactions from the World in the Moon
Defoe, Daniel
Fantasy fiction; Interplanetary voyages -- Fiction; Moon -- Fiction; Political fiction; Satire
One thing remain'd which People expected would ha' put a Check to
this Undertaking, and that was a way of Trading in Classes, or
Societies, much like our East-India Companies in England; and these
depending upon publick Privileges granted by the Queen of the
Country, or her Predecessors, no Body could Trade to those Parts but
the Persons who had those priviledges: The cunning Crolians, who had
great Stocks in those Trades, and foresaw they could not Trade by
themselves without the publick Grant or Charter, contriv'd a way to
get almost all that Capital Trade into their Hands as follows.
They concerted Matters, and all at once fell to selling off their
Stock, giving out daily Reports that they would be no longer
concern'd, that it was a losing Trade, that the Fund at bottom was
good for nothing, and that of two Societies the Old one had not 20
per Cent. to divide, all their Debts being paid; that the New Society
had Traded several Years, but if they were dissolv'd could not say
that they had got any thing; and that this must be a Cheat at last,
and so they resolv'd to sell.
By this Artifice, they daily offering to Sale, and yet in all their
Discourse discouraging the thing they were to sell no Body could be
found to buy.
The offering a thing to Sale and no Bidders, is a certain
never-failing prospect of a lowring the Price; from this Method
therefore the value of all the Banks, Companies, Societies and Stocks
in the Country fell to be little or nothing worth; and that was to be
bought for 40 or 45 Lunarians that was formerly sold at 150, and so
in proportion of all the rest.
All this while the Crolians employ'd their Emissaries to buy up
privately all the Interest or Shares in these Things that any of the
Solunarian Party would sell.
This Plot took readily, for these Gentlemen exposing the weakness of
these Societies, and running down the value of their Stocks, and at
the same time warily buying at the lowest Prices, not only in time
got Possession of the whole Trade, with their Grants, Privileges and
Stocks, but got into them at a prodigiously low and despicable Price.
They had no sooner thus worm'd them out of the Trade, and got the
greatest part of the Effects in their own Hands, and consequently the
whole Management, but they run up the Price of the Funds again as
high as ever, and laught at the folly of those that sold out.
Nor could the other People make any Reflections upon the honesty of
the practice, for it was no Original, but had its birth among the
Solunarians themselves, of whom 3 or 4 had frequently made a Trade of
raising and lowring the Funds of the Societies by all the Clandestine
Contrivances in the World, and had ruin'd abundance of Families to
raise their own Fortunes and Estates.
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.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account