The Stock Exchange from WithinVan Antwerp, William C. (William Clarkson)
History
The Stock Exchange from Within
Van Antwerp, William C. (William Clarkson)
New York Stock Exchange; Stock exchanges
And yet, as Mr. Bryce pointed out in his lectures at Yale on “The
Hindrances to Good Citizenship,” this willingness to accept as
conclusions the scare-heads in newspapers which are not, and never
were intended to formulate serious opinions, lays us open to the
charge of indolence; “the neglect to think” thus becomes a serious
phase of a deficient sense of civic duty. In countries where men are
imperfectly educated, or in rural districts where means of acquiring
knowledge are small and scant--where men lead isolated lives out of
reach of libraries and learning--they ask advice of the priest or the
village schoolmaster, and thus vicariously discharge the duties of
citizenship without any real knowledge of the problems before them and
without contributing to the solution of those difficulties to which the
ever-increasing complexity of our civilization gives rise.
Now if we apply this line of thought to the study of such economic
problems as arise in our country from time to time, we find that the
same conditions apply. We fancy ourselves immeasurably better off
than the uncultured frontiersman who must rely for his information
upon the priest or the schoolmaster, but in our dumb submission to
the rant of the hustings and the scare of the headlines are we really
discharging the functions of good citizenship? Are we not indolent?
I can have a lively sympathy for the half-breed in the Canadian woods
seeking information as best he may, but for the man in our populous
and cultivated communities who is too lazy to turn to our great public
libraries for light on the vexed and vexing economic problems of the
day, contenting himself with the half-baked opinions of demagogues and
quacks--for such a man it is difficult to say a good word. There is
hope for the one; the other is the most menacing and discouraging type
in our citizenship.
Take up the morning newspaper almost every day and we find the crude
essence of this misinformation paraded in a way that makes us sorry
for a public that cries for such stuff. A custodian of public funds,
collected for the purpose of erecting a monument, is found very
recently to have squandered the money entrusted to him. One of his
co-trustees, who must have been somewhat lax in his duties, bewails the
loss and seeks to enlist sympathy for himself by hazarding the opinion
that “the money _must have been_ lost in speculation in that hell-hole,
the Stock Exchange.”
Public-domain text, read in full here on John Shaqi.
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