'The National Debt may be esteemed a mass
Of filth which grows corrupter every day;
And in this heap, as always comes to pass,
Reptiles and vermin breed, exist, decay.
'Tis now so huge, that he must be an ass
Who thinks it ever can be clear'd away:
And the time's quickly coming, to be candid,
When funded men will swallow up the landed.
'Then will these debt-bred reptiles, hungry vermin,
Fed from the mass corrupt of which I spoke,
Usurp your place. A Jew, a dirty German,
Who has grown rich by many a lucky stroke,
Shall rule the Minister, and all determined
To treat your bitter sufferings as a joke.
Said I, he shall! It will be nothing new;
The Treasury now is govern'd by a Jew.'

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The tall dandy-looking youth standing near the great man is a scion of the former head of the Hebrew family: his father possessed very superior talents, but was too much attached to splendid society to die rich; his banquets were often graced by royalty, and his liberality and honourable conduct proverbial, until misfortune produced a catastrophe that will not bear repeating. The very name of the sire causes a feeling of dislike in the breast of the Colossus, and consequently the son is no partaker in the good things which the great man has to dispose of. The three tall Jews standing together are brothers, and all members of the Stock Exchange; their affinity to the high priest, more than their own talents, renders their fortunes promising. Observe the pale-faced genteel-looking man.on the right hand side of the arena—that is Major G—s, an unsuccessful speculator in the funds, but a highly honourable officer, who threw away the proceeds of his campaigns in the Peninsula among the sharks of the Stock Exchange and the lesser gamblers of St. James's: he has lately given to the world a sketch of his own life, under the assumed name of 'Ned Clinton, or the Commissary,' in which he has faithfully narrated scenes and characters. The little, jolly, fresh-coloured gentleman near him is Tommy B—h, a great speculator in the funds, a lottery contractor, and wine merchant, and quite at home in the tea trade. The immense fat gent behind him is called the dinner man and M. C. of Vaux hall, of which place Tommy B—h holds a principal share; his office is to write lyrics for the lottery, and gunpowder puffs for the Genuine Tea Company, paragraphs for Vauxhall, and spirited compositions in praise of spiritless wines: amid all these occupations it is no wonder, considering his bulk, that he invariably falls asleep before the dinner cloth is removed, and snores most mellifluously between each round of the bottle. The sharp-visaged personage to the left of him is the well known Count Bounce————-"—"Excuse me, Mr. Principal," said I, "but I happen to know that worthy well myself; that is, I believe, Sam Dixon, the coper of Barbican, a jobber in the funds, it would appear, as well as in horses, coaches, and chaises: of the last named article I have had a pretty good specimen from his emporium myself, which, I must ever remember, was at the risk of my life.—"Do you observe that stout-looking gentleman yonder with large red whiskers, in a drab surtout, like a stage coachman? that is the Marquis of H—————-, one of the most fortunate gamblers (i.e. speculators) of the present day: during the war his lordship acquired considerable sums of money by acting on his priority of political information, his policy being to make one of the party in power, without holding office, and by this means be at liberty to act in the money market as circumstances required: among the roués of the west he has not been less successful in games of chance, until his coffers are crammed with riches; but it must be admitted he is liberal in his expenditure, and often-times generous to applicants, particularly sporting men, who seek his favours and assistance. The little club of sage personages who are mustered together comparing notes, in the corner of the Dutch Walk, are the paragraph-writers for the morning and evening press; very potent personages here, I assure you, for without their kind operation the public could never be gulled to any great extent. The most efficient of the group is the elegant-looking tall man who has just moved off to consult his patron, the Hebrew star, who gives all his foreign information exclusively to the Leviathan of the press, of which paper Mr. A—————-r is the representative. Next to him in importance, information, and talent, is the reporter for the Globe and Traveller, G————s M————e, a shrewd clever fellow, with considerable tact for business. Mr. F————y, of the Courier, stands near him on his left; and if he does but little with the stocks, he does that little well. The sandy-haired laddie with the high cheek bones and hawk-like countenance is M'C—————-h, of the Chronicle, but a wee bit of a wastrell in Stock Exchange affairs; and the mild-looking young gentleman who is in conversation with him represents the mighty little man of the Morning Herald. The rest of the public prints are mostly supplied with Stock Exchange information by a bandy-legged Jew, a very Solomon in funded wisdom, who pens paragraphs at a penny a line for the papers, and puts into them whatever the projectors dictate, in the shape of a puff, at per agreement. The knot of swarthy-looking athletic fellows, many of whom are finger-linked together, and wear rings in their ears, are American captains, and traders from the shores of the Atlantic. That jolly-looking ruby-faced old gentleman in black, who is laughing at the puritanical tale of his lank brother, Alderman Shaw, is the celebrated grand city admiral, Sir W. Curtis, a genuine John Bull, considered worth a plum at least, and the author of a million of good jokes. Observe that quiet-looking pale-faced gentleman now crossing the arena: from the smartness of his figure and the agility with which he bustles among the crowd, you would suppose him an active young man of about five-and-twenty, while, in fact, about sixty summers have rolled over his head; such are the good effects of temperance, system, and attention to diet. Here he is known by the designation of Mr. Evergreen; a name, perhaps, affixed to him with a double meaning, combining in view the freshness of his age and his known attachment to theatricals, of which pursuits, as a recreation, he is devotedly fond. As a broker, lottery contractor, and a man of business, Mr. D——-1 stands No. One for promptitude, probity, and the strictest sense of honour; wealthy without pride, and learned without affectation, his company is eagerly sought for by a large circle of the literati of the day, with whom, from his anecdotal powers, he is in high repute: on stage affairs he is a living 'Biographia Dramatica,' and Charles Mathews, it is said, owes much of his present celebrity to the early advice and persevering friendship of this worthy man. The pair of tall good-looking gentlemen on the French Walk are Messrs. J. and H———S***h, merchants in the city, and authors at the west end of the town: here they have recently been designated by the title of their last whimsical production, and now figure as Messrs. Gaiety and Gravity, cognomens by no means inapplicable to the temper, feeling, and talent of the witty brothers. But come," said Principal, "the 'Change is now becoming too full to particularize, and as this is settling day at the Stock Exchange, suppose we just walk across to the Alley, take a look at the market, and see how the account stands."—In passing down Saint Bartholomew Lane, accident threw in our way the respected chief magistrate of the city, John Garrett, Esq. of whose sire little Principal favoured us with some entertaining anecdotes.—"Old Francis Garrett, who began business in the tea trade without cash, but with great perseverance and good credit, cut up at his death for near four hundred thousand pounds, and left his name in the firm to be retained for seven years after his decease, when his posthumous share of the profits was to be divided among his grand-children. As he generally travelled for orders himself, he was proverbial for despatch; and has been known to call a customer up in the morning at four o'clock to settle his account, or disturb his repose in the night, if old Francis was determined to make a lamp of the moon, and pursue his route. A very humorous story is related of him. Arriving at Benson, near Henley, on a Sunday morning, just as his customer, a Mr. Newberry, had proceeded to Church, old Francis was very importunate to prevail upon the servant-maid to call him out, in order that he might proceed to Oxford that night: after much persuasion she was induced to accompany him to the church, to point out the pew where her master sat. At their entrance the eccentric figure of the tea-broker caused a general movement of recognition among the congregation; but Francis, nothing abashed, was proceeding up the aisle with his cash instead of prayer-book in his hand, when his attention was arrested by the clergyman's text, 'Paul we know, and Silas we know, but who art thou?' The singular coincidence of the words, added to the authoritative style of the pastor, quite staggered Francis Garrett, who, however, quickly recovering, made a low bow, and then, in a true business-like style, proceeded to, apologize to the reverend and congregation for this seeming want of respect, adding he was only old Francis Garrett, of Thames-street, the tea broker, whom every body knew, come to settle a small account with his friend Mr. Newberry. The eccentricity of the man was notorious, and this, perhaps, better than the apology, induced the clergyman to overlook the offence; but the story will long be remembered by the good people of Benson, and never fail to create a laugh in the commercial room among the merry society of gentlemen travellers. The son, who has deservedly risen to the highest civic honours, is a worthy and highly honourable man, whose conduct since he has been elected lord mayor reflects great credit upon his fellow citizens' choice."—We had now mounted the steps which lead to the Stock Exchange, or, as Principal, who, though one among them, may be said not to be one of them, observed, we had arrived at the wolves' den, "the secret arcana of which place, with its curious intricacies and perplexing paradoxical systems and principles, I shall now," continued our friend, "endeavour to explain; from which exposition the public will be able to see the monster that is feeding on the vitals of the country, while smiling in its face and tearing at its heart, yet cherished by it, as the Lacedemonian boy cherished the wolf that devoured him. I am an enemy to all monopolies," said Principal, "and this is one of the worst the country is infested with. "A private or exclusive market, that is, a market into which the public have not the liberty or privilege of either going to make, or to see made, bargains in their own persons, is one where the most sinister arts are likely to prevail. The Stock Exchange is of this description, and accordingly is one where the public are continually gulled out of their money by a system of the most artful and complicated traffic—a traffic calculated to raise the hopes of novices, to puzzle the wits of out-door speculators, and sure to have the effect of diminishing the property of those who are not members of the fraternity.{15}

"One of the principles of the Stock Exchange is, that the public assist against themselves, which is not the less true than paradoxical. It is contrary to the generally-received opinion that stocks should either be greatly elevated or depressed, without some apparent cause: it is contrary to natural inference that they should rise,—not from the public sending in to purchase, or to buy or sell, which however frequently happens. It follows, therefore, that the former is occasioned by the arts of the interested stock-jobbers, and the latter by out-door speculators, who have the market price banged down upon them by those whose business and interest it is to fleece them all they can. In the language of the Stock Exchange, you must be either a bull or a bear, a buyer or a seller: now as it is not necessary you should have one shilling of property in the funds to embark in this speculation, but may just as well sell a hundred thousand pounds of stock as one pound, according to the practice of time bargains, which is wagering contrary to law—so neither party can be compelled to complete their agreement, or to pay whatever the difference of the amount may be upon the stock when the account closes: all transactions

15 The mode of exchanging stock in France is in public. A
broker stands in the situation of an auctioneer, and offers
it to the best bidder.

are, therefore, upon honour; and whoever declines to pay his loss is posted upon a black board, declared a defaulter, shut out of the association, and called by the community a lame duck.

"It is not a little extraordinary, while the legislature and the judges are straining every nerve to suppress low gambling and punish its professors, they are the passive observers of a system pregnant with ten times more mischief in its consequences upon society, and infinitely more vicious, fraudulent, and base than any game practised in the hells westward of Temple Bar; but we are too much in the practice of gaping at a gnat and swallowing a camel, or the great subscription-houses, such as White's, Brooke's, and Boodle's, would not have so long remained uninterrupted in this particular, while the small fry that surround them, and which are, by comparison, harmless, are persecuted with the greatest severity. As there is a natural disposition in the human mind for gambling, and as it is visible to all the world that many men (cobblers, carpenters, and other labourers), by becoming stock-jobbers, are suddenly raised from fortunes of a few pounds to hundreds of thousands, therefore every falling shop-keeper or merchant flies to this disinterested seminary with the same hope: but the jobbers, perceiving their transactions interrupted by these persons intruding, in order to keep them at a distance, formed themselves into a body, and established a market composed of themselves, excluding every person not regularly known to the craft.{16} As the brokers found difficulty always to meet with people that would accommodate them either to buy or sell without waiting in the regular

16 An article in their by-laws expresses, that no new member
shall be admitted who follows any other trade or business,
or in any wise is subject to the bankrupt laws: at the same
time it is curious to observe, that most of them are either
soi-disant merchants or shopkeepers.

market in the Bank, to save themselves time they got accommodated among these gamblers in buying or selling as they wished; at the same time they gave the jobber one-eighth per cent, for such accommodation. As the loss was nothing to the broker, of course this imposition was looked over, because it saved his own time, and did not diminish his own commission.{17} It is clear, therefore, that the Stock Exchange is a self-constituted body, without any charter, but merely established at the will of the members, to the support of which a subscription is paid by each individual. They are ruled by by-laws, and judged by a committee, chosen from among themselves. This committee, as well as the members, are regularly re-balloted once in every year; of course no person is admitted within the walls of this house who does not regularly pay his subscription.