Wall Street Speculation, Its Tricks and Its Tragedies PDF Download

Author: Franklin Keyes
Publisher: CreateSpace
ISBN: 9781507878453
Category : History
Languages : en
Pages : 38

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Book Description
This is an early 20th century work on Wall Street and the stock market, particularly speculation. From the intro: "Wall Street speculation is the most stupendous game known to the world of chance; as compared with it, the game at Monte Carlo pales into utter insignificance; in no other game are the stakes so high, is success so transitory and failure so overwhelming. It is a game in which the wealth of Croesus changes hands in a single hour, a game in which a few manipulators behind the scenes pile up millions on top of more millions year after year; but in which the vast majority of the outside public, who tamper with it, go to financial and often to physical and moral ruin. Many, who are unacquainted with Wall Street methods, regard speculation in stocks, on a margin, as legitimate business; this however is an error, which we may as well acknowledge first as last; it is, as I say, a game, run by Wall Street's millionaires and multimillionaires, who since the organization of the Stock Exchange have succeeded in filching from the pockets of the general public, without giving any equivalent whatever, untold millions. The public's annual average of loss to Wall Street has usually been estimated in former years, at $100,000,000 per annum; but owing to the more recent enterprising methods of the "Street" in manipulating the game, this estimate is now far too small, as we shall see."