England -- Social life and customs; Gambling -- Great Britain
Some, who, by virtue of their
unabashed impudence, became provisional committee men, supported the
dignity of their position, in a style which raised the mirth of many,
and moved the envy of more. Trustees, who had no money of their own,
or, who had lost it, used that which was confided to them; brothers
speculated with the money of sisters; sons gambled with the money of
their widowed mothers; children risked their patrimony; and, it is no
exaggeration to say, that the funds of hundreds were surreptitiously
endangered by those in whose control they were placed.”
The Marquis of Clanricarde, in a speech, spoke very boldly as to the
status, social and financial, of some of the subscribers to Railway
Companies. Said he: “One of the names to the deed to which he was
anxious to direct their attention, was that of a gentleman, said to
reside in Finsbury Square, who had subscribed to the amount of £25,000:
he was informed no such person was known at that address. There was,
also, in the Contract deed, the name of an individual who had figured
in the Dublin and Galway Railway case, who was down for £5000, and who
was understood to be a half-pay officer, in the receipt of £54 a-year,
but, who appeared as a subscriber in different railway schemes, to the
amount of £41,500. The address of another, whose name was down for
£12,200, was stated to be in Watling Street, but it appeared he did
not reside there. In the case of another individual down for £12,500 a
false address was found to have been given. Another individual, whom he
would not name, was a curate in a parish in Kent; he might be worth all
the money for which he appeared responsible in various railway schemes,
but his name appeared for £25,000 in different projects, and stood for
£10,000 in this line. Another individual, who was down for £25,000, was
represented to be in poor circumstances. A clerk in a public company
was down for upwards of £50,000. There were several more cases of the
same kind, but he trusted that he had stated enough to establish the
necessity of referring the matter to a committee. There were, also,
two brothers, sons of a charwoman, living in a garret, one of whom had
signed for £12,500, and the other for £25,000; these two brothers,
excellent persons, no doubt, but who were receiving about a guinea and
a half between them, were down for £37,000.”
CHAPTER XXI
The Comic side of the Railway Mania—“Jeames’s Diary,”
&c.—Universal Speculation as shown by Parliamentary Return—Rise
of Discount—Collapse—Shareholders not forthcoming—Widespread
Ruin—George Hudson.
Not particularly exaggerated is “Railroad Speculator” in _Punch_ (Vol.
viii., p. 244):
“The night was stormy and dark, the town was shut up in sleep: Only
those were abroad who were out on the lark, Or those who’d no beds to
keep.
I passed through the lonely street, The wind did sing and blow; I
could hear the policeman’s feet, Clapping to and fro.
Public-domain text, read in full here on John Shaqi.
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