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Updated: June 7, 2025
Money-Dealing In order to show what dimensions money-dealing assumed by the side of this estate-husbandry unnaturally prospering over the ruin of the small farmers, how the Italian merchants vying with the Jews poured themselves into all the provinces and client-states of the empire, and how all capital ultimately flowed to Rome, it will be sufficient, after what has been already said, to point to the single fact that in the money-market of the capital the regular rate of interest at this time was six per cent, and consequently money there was cheaper by a half than it was on an average elsewhere in antiquity.
This occurred about the commencement of the great Potato Revolution an event which I apprehend will be long remembered by the squirearchy and shareholders of these kingdoms. The money-market was beginning to exhibit certain symptoms of tightness; premiums were melting perceptibly away, and new schemes were in diminished favour.
Of his work he wrote, "Well, I go on in the office, operose nihil agenda, very operose, and very nihil too. For lack of news, I send you a specimen of my labors." "We are here going on much as usual, occupied with nothing else but commerce and the money-market. I do not think any one is thinking audibly of anything else."
Prices are more or less what we make them. Three of the greatest industrial undertakings which the world has ever known, in which are invested hundreds of millions of honest American capital, are still controlled by us. If you publish that document, whatever the ultimate results may be, there will be the worst scare in the American money-market which the world has ever known.
His greatest coups on the money-market had been in a great measure the result of this faculty of prompt decision. To-day he possessed himself of the blotting-pad, and examined the half-formed syllables stamped upon it with as much coolness and self-possession as if he had been seated in his own office reading his own newspaper.
He could have hugged Bullion, bear as he was. We leave Fletcher and his principal on the high road to success. Greenleaf worked assiduously upon his landscapes, and, notwithstanding the pressure in the money-market, was fortunate enough to dispose of them to gentlemen whose incomes were not affected by the vicissitudes of business.
"The war must greatly disturb the money-market, affect many speculative adventures and operations when at the very moment credit may be most needed. It is absolutely necessary that I should be daily at my post on the Bourse, and hourly watch the ebb and flow of events. Under these circumstances I had counted, permit me to count still, on your presence in Bretagne.
I used to be well laughed at for attaching any sentiment to an animal which had sunk so disgracefully low in the money-market as a New Zealand lamb, but the abundant supply of my little pets never made it easier for me to lose the particular one which I had set my heart on rearing.
And, a thing which his host had never known him do before, he had drunk in that half hour when they sat waiting, close on a bottle of port. The evening paper lay ready cut for him in its accustomed place, but for some five minutes Mr. Taynton did not appear to notice it, though evening papers, on the money-market page, might contain news so frightfully momentous to him.
James is in an awful stew, and I cannot blame him; but then he should consider the hyoscyamus which I was taking, and the anxious botheration about the money-market. However, as Chaucer says: "There is na workeman That can bothe worken wel and hastilie; This must be done at leisure parfitly." January 12.
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