Take notice, no cross-bones or skulls are allowed,
Or naked young cherubims riding a cloud;
In short, no allusions that savour of death,
Nor aught that reminds of a friend's parting breath.
The inscriptions and epitaphs, elegies too,
Must all be poetical, lively, and new;
Such as never were heard of, or seen heretofore,
To be written by Proctor, Sam. Rogers, or Moore.
In lieu of a sermon, glee-singers attend,
Who will chant, like the cherubims, praise without end.
Three decent old women, to enliven the hours,
Attend with gay garlands and sacred flowers,
The emblems of grief—artificial, 'tis true,
But very like nature in a general view.
Lord Graves will preside, and vice-president Coffin
Will pilot the public into the offing.
The College of Surgeons and Humane Society
Have promised to send a delightful variety.
The Visitors all are physicians of fame;
And success we may, therefore, dead certainty name.
To the delicate nervous, who'd wish a snug spot,
A romantic temple, or moss-cover'd grot,
Let them haste to John Ebers, and look at the plan;
Where the grave-book lies open, its merits to scan.
Gloves, hatbands, and essence of onions for crying,
White 'kerchiefs and snuff, and a cordial worth trying,
The attendants have ready; and more—as time presses,
No objection to bury you in fancy dresses.
Our last proposition may frighten you much;
We propose to reanimate all by a touch,
By magic revive, if a century old,
The bones of a father, a friend, or a scold.
In short, we intend, for all—but a wife,
To bring whom you please in a moment to life;
That is, if the shares in our company rise,—
If not 'tis a bubble, like others, of lies.
—Bernard Blackmantle.
The recitation of this original jeu d'esprit had, I found, the salutary effect of clearing my friend Transit's vision in respect to the speculation mania; and being by this time fully accoutred and furnished with the possibles, we sallied forth to make a purchase in the public funds. There is something to be gleaned from every event in this life, particularly by the eccentric who is in search of characteristic matter. I had recently been introduced to a worthy but singular personage in the city, Mr. Peter Principal, stock broker, of the firm of Hazard and Co.—a man whose probity was never yet called in question, and who, having realized a large property by the most honourable means, was continually selected as broker, trustee, and executor by all his acquaintance. To him, therefore, I introduced my friend Bob, who being instantly relieved from all his weighty troubles, and receiving in return the bank receipts, we proceeded to explore the regions of Pluto (i.e. the money market), attended by Peter Principal as our guide and instructor. On our entrance into Capel Court we were assailed by a motley group of Jews and Gentiles, inhabitants of Lower Tartary (i.e. Botany Bay{2}), who, suspecting we came there on business, addressed us in a jargon that was completely unintelligible either to Transit or myself. One fellow inquired if I was a bull,{3} and his companion wished to know if Transit was a bear{4}; another eagerly offered to give us five eighths, or sell us, at the same price, for the account'{5}; while a fourth thrust his
2 A place so named, without the Stock Exchange, where the
lame ducks and fallen angels of Upper Tartary assemble when
expelled the house, to catch a hint how the puff's and bangs
succeed in the private gambling market; when if they can
saddle their neighbour before he is up to the variation, it
is thought good jobbing.
3 Persons that purchase with a view for a rise in the
funds.
4 One who sells with a view to a fall in the price of stock.
5 A certain future day, fixed upon by the Committee of the
Stock Exchange, for the settlement of time bargains—they
are usually appointed at an interval of six weeks, and the
price of stocks on this given day determines the
speculator's gain or loss.
copper countenance into my face, and offered to do business with me at a fiddle.{6} "Tush, tush," said Peter Principal to the increasing multitude which now barred our passage, "we are only come to take a look, and watch the operation of the market." "Dividend hunters{7} I suppose," said a knowing looking fellow, sarcastically, "ear wigging{8}—Hey, Mr. Principal, something good for the pull out{9}? Well, if the gentlemen wish to put on the pot, although it be for a pony,{10} I'm their man, only a little rasping,{11} you know." To this eloquent appeal succeeded a similar application from a son of Israel, who offered to accommodate us in any way we wished, either for the call{l2} or put{13}; to which friendly offer little Principal put his direct negative, and, after innumerable
6 When a broker has got money transactions of any conse-
sequence, as there is no risk in these cases, he will fiddle
one finger across the other, signifying by this that the
jobber must give up half the turn of the market price to
him, which he pockets besides his commission.
7 Those who suppose by changing stock they get double
interest, by receiving four dividends in one year instead of
two; but in this they are deceived, as the jobber, when he
changes stock, gains the advantage; for instance, if he buys
consols at sixty, when he sells out there will be deducted
one and a half per cent. for the dividend.
8 When bargains are done privately by a whisper, to conceal
the party's being a bull.
9 Buying or selling for ready money.
10 Pony, 25,000L.
11 Giving greater turns to the jobbers than those regulated
in the market.
12 Call. Buying to call more at one-eighth or one-fourth
above the price on a certain day, if the buyer chooses, and
the price is in his favour.
13 Put. Selling to put more to it on a certain day, at
one-eighth or one-fourth under the market price.
attacks of this sort, we reached the upper end of the court, and found ourselves upon the steps which lead to the regions of Upper Tartary, (i.e.) the Stock Exchange. At this moment our friend Principal was summoned by his clerk to attend some antique spinster, who, having scraped together another hundred, had hobbled down to annex it to her previous amount of consols. "You must not attempt to enter the room by yourselves," said Principal; "but accompany me back to the Royal Exchange, where you can walk and wait until I have completed the old lady's job." While Principal was gone to invest his customer's stock, we amused ourselves with observing the strange variety of character which every where presents itself among the groups of all nations who congregate together in this arena of commerce. Perhaps a more fortunate moment for such a purpose could not have occurred: the speculative transactions of the times had drawn forth a certain portion of the Stock Exchange, gamblers, or inhabitants of Upper Tartary, who, like experienced sharpers of another description, never suffer a good thing to escape them. Capel Court was partially abandoned for exchange bubbles,{14} and new companies opened a new system of fraudulent enrichment for these sharks of the money market.
14 The speculative mania, which at this time raged with un-
precedented violence among a large portion of his Majesty's
liege subjects, gave the "John Bull" a glorious opportunity
for one of their witty satires, in which the poet has very
humorously described the
BUBBLES OF 1825.
Tune—"Run, neighbours, run."
Run, neighbours, run, you're just in time to get a share
In all the famous projects that amuse John Bull;
Run, take a peep on 'Change, for anxious crowds beset us there,
Each trying which can make himself the greatest gull.
No sooner are they puff'd, than a universal wish there is
For shares in mines, insurances in foreign loans and fisheries.
No matter where the project lies, so violent the mania,
In Africa, New Providence, Peru, or Pennsylvania!
Run, neighbours, run, you're just in time to get a share
In all the famous bubbles that amuse John Bull.
Few folks for news very anxious at this crisis are,
For marriages, and deaths, and births, no thirst exists;
All take the papers in, to find out what the prices are
Of shares in this or that, upon the broker's lists.
The doctor leaves his patient—the pedagogue his Lexicon,
For mines of Real Monte, or for those of Anglo-Mexican:
E'en Chili bonds don't cool the rage, nor those still more romantic, sir,
For new canals to join the seas, Pacific and Atlantic, sir.
Run, neighbours, run, you're just in time to get a share
In all the famous bubbles that amuse John Bull.
At home we have projects too for draining surplus capital,
And honest Master Johnny of his cash to chouse;
Though t'other day, Judge Abbott gave a rather sharpish slap at all.
And Eldon launched his thunder from the upper House.
Investment banks to lend a lift to people who are undone—
Proposals for Assurance—there's no end of that, in London;
And one amongst the number, who in Parliament now press their Bills,
For lending cash at eight per cent, on coats and inexpressibles.
Run, neighbours, run, you're just in time to get a share
In all the famous bubbles that amuse John Bull.
No more with her bright pails the milkman's rosy daughter works,
A company must serve you now with milk and cream;
Perhaps they've some connexion with the advertising water-works,
That promise to supply you from the limpid stream.
Another body corporate would fain some pence and shillings get,
By selling fish at Hungerford, and knocking up old Billingsgate:
Another takes your linen, when it's dirty, to the suds, sir,
And brings it home in carriages with four nice bits of blood, sir.
Run, neighbours, run, you're just in time to get a share
In all the famous bubbles that amuse John Bull.
When Greenwich coaches go by steam on roads of iron railing, sir,
How pleasant it will be to see a dozen in a line;
And ships of heavy burden over hills and valleys sailing, sir,
Shall cross from Bristol's Channel to the Tweed or Tyne.
And Dame Speculation, if she ever fully hath her ends,
Will give us docks at Bermondsey, St. Saviour's, and St. Catherine's;
While side long bridges over mud shall fill the folks with wonder, sir,
And lamp-light tunnels all day long convey the Cocknies under, sir.
Run, neighbours, run, you're just in time to get a share
In all the famous bubbles that amuse John Bull.
A tunnel underneath the sea, from Calais straight to Dover, sir,
That qualmish folks may cross by land from shore to shore,
With sluices made to drown the French, if e'er they would come over, sir,
Has long been talk'd of, till at length 'tis thought a monstrous bore.
Amongst the many scheming folks, I take it he's no ninny, sir,
Who bargains with the Ashantees to fish the coast of Guinea, sir;
For, secretly, 'tis known, that another brilliant view he has,
Of lighting up the famous town of Timbuctoo with oil gas.
Run, neighbours, run, you're just in time to get a share
In all the famous bubbles that amuse John Bull.
Then a company is form'd, though not yet advertising,
To build, upon a splendid scale, a large balloon,
And send up tools and broken stones for fresh Mac-Adamizing
The new discover'd turnpike roads which cross the moon.
But the most inviting scheme of all is one proposed for carrying
Large furnaces to melt the ice which hems poor Captain Parry in;
They'll then have steam boats twice a week to all the newly-seen land,
And call for goods and passengers at Labrador and Greenland!
Run, neighbours, run, you're just in time to get a share
In all the famous bubbles that amuse John Bull,
High 'Change was a subject full of the richest materials for my friend Bob, who, without knowing more of the characters than their exterior appearances of eccentricity and costume exhibited, proceeded to book, as he termed it, the leading features. Every now and then there was a rush to different parts of the arena, and an appearance of great anxiety among the crowd to catch the attention of a person who flourished a large parchment above their heads with all the pride and importance of a field marshal's baton. This was, I found, no other than the leading agent of some newly projected company, who took this method of indulging the subscribers with shares, or letting the fortunate applicants know how many of these speculative chances the committee had allowed them to possess. The return of little Principal afforded me a key to the surrounding group, without which their peculiar merits would have been lost to the world, or have remained individually unknown, like the profit of many of the modern speculations. "You must not suppose," said Principal, "that great talents make great wealth here, or that honourable conduct and generous feelings command respect—no such thing; men are estimated upon 'Change in proportion to the supposed amount of their property, and rise or fall in the worldly opinion of their associates as prosperity or adversity operates upon the barometer of their fortunate speculations; a lucky hit will cause a dolt to be pointed out as a clever fellow, when, the next turn of the market proving unsuccessful, he is despised and insulted: so much are the frequenters of 'Change influenced by the most sordid and mercenary feelings, that almost all of them are the willing dupes of riches and good fortune. However, as you are strangers here, gentlemen, I will introduce you, entre nous, to a few of the characters who thrive by the destruction of thousands of their fellow-creatures. The bashaw in black yonder, who rests his elephantic trunk against a pillar of the Exchange, with his hands thrust into his breeches pockets, is the Hebrew star—the Jewish luminary, a very Shiloh among the peoples of his own persuasion, and, I am sorry to say, much too potent with the orthodox ministers of George the Fourth. The fellow's insolence is intolerable, and his vulgarity and ignorance quite unbearable. He commenced his career in Manchester by vending trinkets and spectacle-cases in the streets of that town, from which station he gradually rose to the important occupation of a dealer in fag ends, from which he ascended to the dignity of a bill-broker, when, having the command of money, and some wealthy Hebrew relatives conveniently distributed over the Continent for the transaction of business, he took up his abode in London, and towards the termination of the late war, when a terrible smash took place among some of his tribe, he found means to obtain their confidence, and having secured, by the aid of spies, the earliest foreign intelligence, he rapidly made a colossal fortune in the British funds, without much risk to himself. It is said he can scarcely write his own name, and it only requires a minute's conversation to inform you of the general ignorance of his mind; in short, he is one of Hazlitt's men, with only one idea, but that one entirely directed to the accumulation of gold. A few years since some of the more respectable members of the Stock Exchange, perceiving the thraldom in which the public funds of the country were held by the tricks and manouvres of the Jew party, determined to make a stand against them: among these was a highly respected member of parliament, a great sporting character, and a very worthy man. His losses proved excessive, but they were promptly paid. In order to weaken his credit, and, if possible, shake his confidence and insult his feelings, the Jew took an opportunity, during High 'Change, of telling him, 'Dat he had got his cote and vaistcote, and he should very soon have his shirt into de bargain:' in this prophecy, however, Mr. Mordecai was mistaken; for the market took a sudden turn, and the gentleman alluded to recovered all his losses in a short time, to the great discomfiture of the high priest and the Jews. In private life he is equally abrupt and vulgar, as the following anecdote will prove, at his own table: A christian broker solicited some trifling favour, observing, he had granted what he then requested to another member of the house, who was his brother-in-law. 'Vary true, vary true,' said Solomon Gruff, as he is sometimes called, 'but then you do not shleep vid my shister, my boy; dat makes all de differance.' At present this fellow's influence is paramount at most of the courts of Europe, at some of which his family enjoy considerable honours; in short, he is the head of the locust tribe, and the leader of that class of speculators whom a witty writer has well described in the following lines, addressed to the landholders: