Inside Life in Wall Street Or How Great Fortunes Are Lost Won

d and bad fortune in the current speculations of that famous thoroughfare. The candid answer will invariably be Because I wanted to make money faster than in my trade or profession. Lawyers are not content with their costs, mechanics with their wages, doctors with their fees, merchants with their gains, clergymen with their salaries, capitalists with their profits, money-lenders with their plain seven per cent. they would make one hundred per cent. in an hour and then double it the next it costs so much to live, you know, now-days, and accordingly they betake themselves to the stock-market, where Vanderbilt and Gould and others of that ilk are, according to the popular belief, making cent per cent. almost every fine day. What fallacies of financial logic what moonshine Standing in the portico of the Stock Exchange on the 20th of September and the 15th of October, 1873, those black and bitter days in the reckoning of Wall street, we saw the bolts fall out of the great darkness, saw the proudest and strongest smitten to the earth, saw the fabric which years had builded, melt away like an unsubstantial pageant, saw the long lines of mourners from the house of Vanderbilt and the house of Gould, saw the rueful faces and heard the doleful lamentations. Thereupon we bethought us of the fable of the race between the hare and the tortoise, and remembered the proverb which teaches that the longest way around is the shortest way home and so we took up our pen and wrote the Sequel to Ten Years of Speculation in Wall Street. If some of the facts related in the following narrative are familiar to the public, others are new. The course of speculation in railway shares and the causesof the great panics, most especially of that mighty convulsion by which the whole commercial system is now rocking to its base,. will furnish food for the imagination as well as the reasoning faculties of our readers. If they will only learn the lesson it teaches and ponder over the moral of this strange eventful history, the writer will feel he has not used his pen in vain. I. VIEW OF STOC E K X CHAN D G U E RI NG PANIC, - Frontispiece. 2. CORNELIUS V ANDERBILT, - - - - 47 3. DANIEL DREW, - - - - - 47 4. LEONAR W D . JEROM - E , - - - 47 5. JACO L B IT TLE, - - - - 47 6. CURBSTONBER OKERS, - - - 83 7. VIEW OF SUB-TREASURY, - - - - - 101 8. ADDISONG . JEROM - E , - m g - 151 9. HENRY KE EP, - - g - 151 10. JAY GO ULD, - - - - g - 151 11. JAME FI S S KJ, R., - - - 151 12. VIEW OF GOLD ROOM, - . - - - 183 13. HALL O F BROKERBSO ARD, - - - - - 231 14. How A FORTUNA O T PE E R ATOR SP END H S IS MONEY, - - 257 15. VAULTS O F THE STOCK E XCHANGE, - - - 273 16. BUBBLE C OMPANIES-FIGHTING F OR STOCK-LOOKIS F G O R DIVIDENDS, - - - - - 305 17. LOCKIN U G P GREENBACKS, - - - - - 369 18. END OF A GREAT SPECULATOR, - - - - 423 19. DREAM O F A SPECULATO - R, - - 433 20. A BROKERBO FFICE-ENTER VERDANGTR EEN, - 459 21. PLOTTIN G G RE ATG OLDR ING O F 1869,. - - 509 22, SCENE D S U RING PANIC OF 1873, - - - 583 CONTENTS. CHAPTER I. WALL STREET...