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Updated: June 12, 2025
The great Republic might have survived even such horrors as these had it not been for the out-breaking of another craze more terrible far than an army with gattling guns, I refer to the most destructive of all scourges, the mania for stock-gambling.
I found that the stocks we bought and sold were mere gambling chips; that the man who had the biggest stack could beat his opponent off the board; that his opponent was the world, because all men directly or indirectly played the stock-gambling game. To win, it was but necessary to have unlimited chips.
Ely Ives would, before his connection with Tertius Marrineal, have probably identified himself as a press-agent. In that capacity he had acted, from time to time, for a railroad with many axes to grind, a widespread stock-gambling enterprise, a minor political ring, a liquor combination, and a millionaire widow from the West who innocently believed that publicity, as manipulated by Mr.
But the president of the Mutual Credit proceeded, "For the present, all I have to ask of you is to keep cool, and continue to give me your confidence." "Yes, yes!" "The panic of night before last was but a stock-gambling manoeuvre, organized by rival establishments, who were in hopes of taking our clients away from us. They will be disappointed, gentlemen.
I could not overhear their conversation, but long afterward, when I mentioned our old stenographer, Bessie Brown, to Bob, he told me of the incident at the Battery. Her husband, after their marriage, had become infected with the stock-gambling microbe, the microbe that gnaws into its victim's mind and heart day and night, while ever fiercer grows the "get rich, get rich" fever.
If a rule were made compelling a seller to show his responsibility before selling, every member would have every other member at his mercy and there could be no stock-gambling.
There I met Jay Gould familiarly; and resumed acquaintance with Russell Sage, whom I had known when a lad in Washington, he a hayseed member of Congress; and occasionally other of the Wall Street leaders. In a small way though not for long I caught the stock-gambling fever. But I was on the "inside," and it was a cold day when I did not "clean up" a goodly amount to waste uptown in the evening.
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