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Updated: May 19, 2025
He was well acquainted with the nature of the public funds, and understood the whole mystery of stock-jobbing. This knowledge produced a connexion between him and the money-corporations, which served to enhance his importance.
But here is a whole commercial society suddenly wrecked, in a moment of general peace, after ten years of high, but not very florid or very unwholesome prosperity, on the heel of an abundant recompense to the efforts of labor, when there has occurred no public calamity, no war, no famine, no fire, no domestic insurrection, scarcely one startling event, and when the interpositions of the government have been literally as unfelt as the dropping of the dew, a whole commercial society is wrecked; values sink to the bottom like the California gold on the "Central America"; great money-corporations fall to pieces as her state-rooms and cabins fell to pieces; the relations of trade are dislocated as her ribs and beams were dislocated; and the people are cast upon an uncertain sea, as her passengers were cast, not to struggle for physical existence like them, but to endure an amount of anguish and despair almost equal to what was endured by those unhappy victims.
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