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Updated: May 24, 2025
Those who are, or believe they are, interested in maintaining the established errors, will contemplate, with horror, the truths here presented to them: in short, those infatuated mortals, who do not feel, or who only feel very faintly, the enormous load of misery brought upon mankind by metaphysical speculation; the heavy yoke of slavery under which prejudice makes him groan, will regard all our principles as useless; or, at most, as sterile truths, calculated to amuse the idle hours of a few speculators.
The loud vociferations of brokers, the quick gestures of excited speculators, and the babel of tongues produced a deafening noise, like that heard at the stock exchange in New York.
From Philadelphia, merchandise was transported to Pittsburg on pack-horses, and thence taken down the Ohio River in flat-boats and distributed among the settlements on its banks. Country stores, land speculators, and paper money made their appearance, affording a clear augury of the future activity of the West in commercial industry and enterprise.
I am not quite of the mind of those speculators who seem assured that, necessarily, and by the constitution of things, all states have the same periods of infancy, manhood, and decrepitude that are found in the individuals who compose them. Parallels of this sort rather furnish similitudes to illustrate or to adorn, than supply analogies from whence to reason.
A revolution such as that of '63 is a terrible thing; they that rose rich in the morning often slept in paupers' beds. Beggars and vulgar speculators rose to rule over them, and their children went astray. See yonder sad-colored house, with its cabins and fences and glad crops! It is not glad within; last month the prodigal son of the struggling father wrote home from the city for money. Money!
Immediately, the system gave a great stimulus to immigration, for it made it easy for any incoming settler to get title to his farm, and it also strongly attracted all land speculators.
Their immediate resources, however, proved almost ridiculously inadequate, while their best efforts were often nullified by the selfishness and lack of foresight of many of their contemporaries. Land set aside for the University by the Government was sold for a song to satisfy speculators.
He learned that there was a new influx of land seekers over the Wilderness Road and that speculators were doing a thriving business in Harrodsburg; so, leaving his company to protect Fort Jefferson, he took two men with him and started across the wilds on foot for Harrodsburg.
The supply of U.E. Loyalists' lands, or claims for land, for a long time seemed to be almost inexhaustible; for the loyal refugees appear to have been prolific beyond all precedent, and most of those who held office at the capital of the province, or who could command a small capital, became speculators and throve prodigiously.
The tempting dividends melted away, and projects for French railways, on the principle of the State taking profits and the speculators the risk, which had excited the admiration of Cato Morrisson, first hung fire and then exploded, so that rich districts of France which, on the system of "profits to private enterprise," would have enjoyed railway conveyance ten years ago, are still left to the mercy of the slow diligences and slower waggons to this hour.
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