"Now, the fact of the matter is this: as I said before, those small individual fortunes are of no use to us individually; they have no earning power; they will not buy anything. But, put them all together—ah! the result is magical. You see, it is the aggregate that counts. Now with this theory in view, our company gets to work and canvasses the country and it gathers together thousands of little, useless, insignificant, unproductive funds like yours and mine and joins them together into one vast, giant aggregate which we call a trust fund. I see it is appealing to you. It could not be otherwise. Now, with this aggregate, you, and I, and everyone can own vast estates, buy forty-year debentures, lend money on approved security, buy real estate, the unearned increment of which will net in some cases two or three hundred per cent. interest, besides an increased valuation on the original sum invested."
Perhaps every living man in the Dominion of Canada and the United States who betrays the least pretensions to having any money in his possession has heard a harangue of this kind many times in his life, and it is just as certain that the first time he heard it he was stung. Now, Simon was no exception to the rule, which proves that we are not all swordfish. He felt himself being hypnotized, magnetized, charmed. He pictured himself as personal owner of lots, houses, acres—a joint owner of vast tracts of land along the G.T.P. or C.N.R.; and the shark showed him a facsimile of the certificates that would be issued to him when his shares were paid up in full. They were very neat and legal-like, and a man should be proud to own one of them.
"You see," said the magnate, as he realized that he had the victim falling into his trap, "we do not require to sell any more shares; we are doing well enough now, and some say we should leave well enough alone. But, a corporation of the nature of ours cannot rest on its oars; we must reach out for greater and better things, and to accomplish this we must have more capital. The fact is, a proposition has just been put to us, the nature of which I am not just now at liberty to divulge, but it is a sure winner. But it takes capital, as I said before, and we are compelled to sell some more stock. And, after all, it will be you and I who will benefit, and a hundred or more favored ones who have small savings which are netting them nothing at present, and the principal of which is rusting in the bank at three per cent.
"Now, to come down to business. Will you join us? Now, I am not going to press you. There are hundreds too willing; but remember, you will regret it if you lose this chance of a lifetime. Opportunity is knocking at your door; seize it by the fore-lock.
"The proposition I have to put before you is this: We are selling shares at one hundred dollars each, but if you have not the cash now, we will allow you six, twelve and eighteen months on the balance with a payment of five hundred dollars down if you buy twenty shares. The reason we are able to make such liberal offers is that we receive the same terms in buying up debentures."
Simon was completely victimized. His tormentor might just as well have addressed him in Latin, for he knew so little about debentures, joint stock funds and the intricacies of high finance that he could not follow the promoter and was completely dazzled with the obscurity and eloquence of the language. And then the magnate spoke so rapidly that only lightning could keep up with him. The result was that Simon fell into the trap and was pinched. He not only gave away all his rainy day money, but he burdened himself with a debt, which, to a working man, was a mountain, and more than he could carry. He sold his house to meet the next two payments, and just as the third payment came due the company went into liquidation, and it consumed all their available assets to discover that there was nothing left for the shareholders. And Simple Simon began life over again.
Of the High Class Eskimo
Away up in the great northland, even further north than the northern boundary of British Columbia, there lives a race of people who form, and have formed, no part of the great human civilization of the world which has been, and is going on in the more moderately climatic regions of the earth. For centuries they have lived apart, and have taken no notice of the big world which has been, and is living itself to death far from them down in the indolent south, where the sun could shine every day in the year—where it did shine every day that it was not cloudy, and where there was no long, dreary, dark midnight of at least four months' duration; where the sun did not dip beneath the horizon at about the beginning of October, and disappear, not to be seen again until the end of March; where, in some parts, there was no snow, while in others only for a few weeks during the year. No snow! no ice! Can you imagine such a condition? And up there it is almost the Eskimo's only commodity. He eats it, drinks it, lives in it, sleeps on it, and his castle is built of it. And he endures it year after year, from his babyhood to his gray days, and there appears no hope for him. Bare ground is a curiosity to the Eskimo; and there are no spring freshets. Their bridges across their streams are formed of ice; the very salt sea is covered with it; and they venture out on those great floors of ice in search of the polar bear and the right whale which form almost their only food, and supply them with their only source of clothing, heat and light. In the midst of his narrow and cramped circumstances the Eskimo can laugh at times as heartily as any other human, and he has grown extremely low in stature to accommodate himself to the small opening which gives access to his igloo (house). The average man or woman does not exceed much over four feet. No other explanation seems to have been offered by science for the extreme dwarfishness in stature of this curious race of people.