| The Depleted Condition of the Treasury when Mr. Chase took Office.—Preparations for War and Great Excitement in Washington.—Chivalrous Southerners in a Ferment.—Officials Up in Arms in Defence of their Menaced Positions.—Miscalculation with Regard to the Probable Duration of the War.—A Visit to Washington and an Interview with Secretary Chase.—Disappointment about the Sale of Government Bonds.—A Panic Precipitated in Wall Street.—Millionaires Reduced to Indigence in a Few Hours.—Miraculously Saved from the Wreck.—How it Happened | [73] |
CHAPTER X.
THE NATIONAL BANKS.
| Secretary Chase Considers the Problem of Providing a National Currency.—How E. G. Spaulding takes a Prominent Part in the Discussion of the Bank Act.—The Act Founded on the Bank Act of the State of New York.—Effect of the Act upon the Credit of the Country.—A New System of Banking Required | [81] |
CHAPTER XI.
THE NEW YORK STOCK EXCHANGE.
| History of the Organization for Ninety-four Years.—From a Button-Wood Tree to a Palace Costing Millions of Dollars.—Enormous Growth and Development of the Business.—How the Present Stock Exchange was Formed by the Consolidation of other Financial Bodies.—Patriotic Action During the War Period.—Reminiscences of Men and Events | [87] |
CHAPTER XII.
“CORNERS” AND THEIR EFFECT ON VALUES.
| The Senate Committee on “Corners” and “Futures.”—Speculation Beneficial to the Country at Large.—A Regulator of Values, and an Important Agent in the Prevention of Panics.-“Corners” in all kinds of Business.—How A. T. Stewart made “Corners.”—All Importing Firms deal in “Futures.”—Legislation Against “Corners” would stop Enterprise and cause Stagnation in Business.—Only the Conspirators themselves get hurt in “Corners.”—The Black Friday “Corner.”—Speculation in Grain Beneficial to Consumers | [95] |