Love stories; New York (N.Y.) -- Fiction; Speculation -- Fiction; Wall Street (New York, N.Y.) -- Fiction
I had decided to concentrate upon Roebuck, because he was the richest and
most powerful of “The Seven.” For, in my pictures of the three main phases
of “finance”--the industrial, the life-insurance and the banking--he, as
arch plotter in every kind of respectable skulduggery, was necessarily in
the foreground. My original intention was to demolish the Power Trust--or,
at least, to compel him to buy back all of its stock which he had worked
off on the public. I had collected many interesting facts about it, facts
typical of the conditions that “finance” has established in so many of our
industries.
For instance, I was prepared to show that the actual earnings of the Power
Trust were two and a half times what its reports to stock-holders alleged;
that the concealed profits were diverted into the pockets of Roebuck, his
sons, eleven other relatives and four of “The Seven,” the lion's share
going, of course, to the lion. Like almost all the great industrial
enterprises, too strong for the law and too remote for the supervision
of their stock-holders, it gathered in enormous revenues to disburse
them chiefly in salaries and commissions and rake-offs on contracts to
favorites. I had proof that in one year it had “written off” twelve
millions of profit and loss, ten millions of which had found its way to
Roebuck's pocket. That pocket! That “treasury of the Lord”!
Dishonest? Roebuck and most of the other leaders of the various gangs,
comprising, with all their ramifications, the principal figures in
religious, philanthropic, fashionable society, did not for an instant
think their doings dishonest. They had no sense of trusteeship for this
money intrusted to them as captains of industry bankers, life-insurance
directors. They felt that it was theirs to do with as they pleased.
And they felt that their superiority in rank and in brains entitled them
to whatever remuneration they could assign to themselves without rousing
the wrath of a public too envious to admit the just claims of the “upper
classes.” They convinced themselves that without them crops would cease
to grow, sellers and buyers would be unable to find their way to market,
barbarism would spread its rank and choking weeds over the whole garden of
civilization. And, so brainless is the parrot public, they have succeeded
in creating a very widespread conviction that their own high opinion of
their services is not too high, and that some dire calamity would come if
they were swept from between producer and consumer! True, thieves are found
only where there is property; but who but a chucklebrain would think the
thieves made the property?
Public-domain text, read in full here on John Shaqi.
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