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Twelve years later just before the start of the South Sea Bubble, Defoe attacked stock-jobbing as "a Branch of Highway Robbing." Although these attacks were directed mainly at "trade thieves" and corruptions in business practices, they reflect Defoe's growing concern with problems of poverty and wealth in England.
Such members of the legislative body as Jullien of Toulouse, Delaunay of Angers, Fabre d'Eglantine and their disciples, were among the most noxious of those conspiring by legislative action to raise and depress securities for stock-jobbing purposes.
Sebastian, in order to co-operate with the British squadron, that there might be something like British co-operation, was not an operation of war, it was one of stock-jobbing.
Had he but waited till to-day, the price would have fallen to 205, and instead of gaining 300,000 francs, he would have lost 20 or 25,000." "And what has caused the sudden fall from 409 to 206?" asked Monte Cristo. "I am profoundly ignorant of all these stock-jobbing intrigues."
I hope the act of accusation against Chabot has been published in England, for the benefit of your English patriots: I do not mean by way of warning, but example. It appears, that the said Chabot, and four or five of his colleagues in the Convention, had been bribed to serve a stock-jobbing business at a stipulated sum,* and that the money was to be divided amongst them.
Companies had been formed, many of them the wildest stock-jobbing operations, refineries had been started, in a few years the whalers of New England had almost lost their occupation, but millions of American homes, that had hitherto had to spend the long winter evenings almost in darkness, suddenly found themselves flooded with light.
I was not inclined to place reliance on all public reports and gossiping stories circulated on the Exchange without close investigation; for I wished to avoid transmitting home as truths what might frequently be mere stock-jobbing inventions.
No scenes of stock-jobbing, of gambling, of frenzied speculation, of reckless excitement and licentiousness ever surpassed the scenes daily enacted in the Rue Quincampoix; and when the bubble burst, the distress was universal, heartrending, and frightful.
All this time the public stock-jobbing still continued on the Place Vendome. The Mississippi had tempted everybody. It was who should fill his pockets first with millions, through M. le Duc d'Orleans and Law. The crowd was very great.
Stock-jobbing was substituted for the maximum, and informers of the middle class altogether surpassed the popular informers. All who had taken part in the dictatorial government were proceeded against with the fiercest determination. The sections, the seat of the middle class, required the disarming and punishment of the members of their revolutionary committees, composed of sans-culottes.
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