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"The remuneration might suffice, provided that I was given a percentage on the product and one or two special allowances; but before going any farther I must understand your intentions. I'm a botanist, and have no wish to be made use of merely for the purpose of furthering some stock-jobbing scheme. Do you really want this venture put upon a satisfactory working footing?"
He managed to possess himself of a carrier-pigeon of the Antwerp breed, one among a flock kept for stock-jobbing purposes, by a certain great capitalist; and he contrived that this trained bird should wheel down among the merchants just at noon one fine day in the Royal Exchange.
Good Lord deliver me also from further experience of the exciting vicissitudes of a stock-jobbing career! Then again, apart from personal prejudices, I am appalled, quite simply, at the cold-blooded marriage traffic that I see going on in London.
Benton in reply declared that the paper money and stock-jobbing systems of the last few years had been the cause. Van Buren called Congress together in extra session in September, 1837, in order, as he said, to devise means of saving the Government itself from bankruptcy.
Among these ministers were Malesherbes, Turgot, Necker, and Calonne. Mirabeau returned to Paris on January 27, 1787. He at once published that famous "Address to the Notables," in which he denounced the whole corrupt system of finance and in which he demanded local provincial administrations. This and his "Denunciation of Stock-jobbing" made great impression on the public mind.
Go and talk of the funds, of the landed interest, of stock-jobbing, to this Sybarite lord of the wilderness, who can live all the year round on luscious bananas and delicious cocoa-nuts which he is not even at the trouble of planting; who has the best tobacco in the world to smoke; who replaces today the horse he had yesterday by a better one, chosen from the first calallada he meets; who requires no further protection from the cold than a pair of linen trousers, in that favored clime where the seasons roll on in one perennial summer; who, more than all this, finds at eve, under the rustling palm-trees, pensive beauties, eager to reward with their smiles the one who murmurs in their ears those three words, ever new, ever beautiful, 'Yo te quiero."
In the house of lords, the bill was opposed by lord North and Grey, earl Cowper, the dukes of Wharton, Buckingham, and other peers; they affirmed it was calculated for enriching a few and impoverishing a great number: that it countenanced the fraudulent and pernicious practice of stock-jobbing, which diverted the genius of the people from trade and industry: that it would give foreigners the opportunity to double and treble the vast sums they had in the public funds; and they would be tempted to realize and withdraw their capital and immense gains to other countries; so that Great Britain would be drained of all its gold and silver; that the artificial and prodigious rise of the South-Sea stock was a dangerous bait, which might decoy many unwary people to their ruin, alluring them by a false prospect of gain to part with the fruits of their industry, to purchase imaginary riches; that the addition of above thirty millions capital would give such power to the South-Sea company, as might endanger the liberties of the nation; for by their extensive interest they would be able to influence most, if not all the elections of the members; and, consequently, over-rule the resolutions of the house of commons.
These fellows I've talked to are dead anxious to get in." "But" her knowledge of business methods suggested a difficulty "you can't sell stock in a business that has no real foundation yet. Don't you have to locate those claims first?" "Wise old head; you have the idea, all right." He smiled. "But this is not a stock-jobbing proposition. I wouldn't be in on it if it were, believe me.
The author calls attention to the increase of gambling in values of all sorts in these words: "What shall I say of the stock-jobbing, as frightful as it is scandalous, which goes on in Paris under the very eyes of our legislators, a most terrible evil, yet, under the present circumstances, necessary?"
The project was violently opposed by a strong party, who affirmed that it would become a monopoly, and engross the whole money of the kingdom; that, as it must infallibly be subservient to government views, it might be employed to the worst purposes of arbitrary power; that instead of assisting it would weaken commerce, by tempting people to withdraw their money from trade and employ it in stock-jobbing; that it would produce a swarm of brokers and jobbers to prey upon their fellow-creatures, encourage fraud and gaming, and further corrupt the morals of the nation.
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