The Abominations of Modern Society

by T. De Witt Talmage

What was the end of this chapter of English enterprise? Suddenly the ruin came. Down went the whole nation—members of Parliament, tradesmen, physicians, clergymen, lawyers, royal ladies, and poor needle-women—in one stupendous calamity. The whole earth, and all the ages, heard that bubble burst.

But I am not through. Our young men shall hear more startling things. We surpass England in having higher mountains, deeper rivers, greater cataracts, and larger armies. Yea, we have surpassed it in magnitude of swindles. I wish to unfold before the young men of the country, and before those in whose hands may now be the price of blood, the wide-spread, ghastly, and almost infinitely greater wickedness of the gamblers in oil stock. Now, the obtaining of lands, the transporting of machinery, and the forming of companies for the production of oil, is just as honorable as any organization for the obtaining of coal, iron, copper, or zinc. God poured out before this nation a river of oil, and intended us to gather it up, transport it, and use it; and there were companies formed that have withstood all commercial changes, and continued, year after year, in the prosecution of an honorable business. I have just as much respect for the man who has made fifty thousand dollars by oil as I have for him who has made it by spices.

Out of twelve hundred petroleum companies, how many do you suppose were honestly formed and rightfully conducted? Do you say six hundred? You make large demands upon one's credulity; but let us be generous, and suppose that six hundred companies bought land, issued honest circulars, sent out machinery, and plunged into the earth for the rightful development of resources. To form the other six hundred companies, only three or four things were necessary: First, an attractive circular, regardless of expense. It must have all the colors and hues of earth, and sea, and heaven. Let the letters flame with all the beauty of gold, and jasper, and amethyst. It must state the date of incorporation, and the fact that "all subscribers shall get the benefit of the original undertaking. While it does not make so much pretension as some other companies, it must be distinctly announced that this is a safe and permanent investment." The circular must state that "there are a goodly number of flowing wells, and others which the company are happy to say have a very good smell of oil." "The books will be open only five days, as there are only a few shares yet to be taken." Connected with this circular is an elaborate map, drawn by the artist of the company. Never mind the geography of the country. Our map must have a creek running through it, so crooked as to traverse as much of the land as possible, and make it all water-front. "Ah!" said one man to his artist, "you make only one creek."—"Well," said the artist, "if you want three creeks you can have them at very little expense. There—you have them now—three creeks!"

Then the circular must have good names attached to it. How to get them? The president and directors must be prominent men. If celebrated for piety, all the better. The estimable man approached says: "I know nothing about this company."—"Well," says the committee waiting on him, "we will give you five hundred dollars' worth of shares." Immediately the estimable man begins to "know about it," and accepts the position of president. Three or four directors are obtained in the same way. Now the thing is easy. After this you can get anybody. Ordinary Christians and sinners feel it a joy to be in such celebrated society.

Another thing important is that the company purchase three or four vials of oil to stand in the window—some in the crude state, the rest clarified. Genuine specimens from Venango County.

Another important thing: there must be a large working capital, for the company do not mean to be idle. They have derricks already building; and there will be large monthly dividends. Let it be known that there were companies in some cities who, claiming to have a capital of four hundred thousand dollars, yet had that capital exhausted when they had sunk one well costing five thousand dollars. But never mind. The thing must be right, for some of the directors are eminent for respectability. You say it is certainly important that there be some land out of which the oil is to be obtained. Oh! no. Why be troubled with any land at all? It is an expense for nothing. You have the circular, and the glowing map, with the creeks and three vials of oil in the window, and a flaming advertisement in the newspapers. Now let the books be opened! Better if you can have a half-dozen offices in one room; then the agent can accommodate you with anything you desire. If you want to take a "flyer" in this and a "flyer" in that, you shall have it.

Coming in from the country are farmers, dairymen, day-laborers. Great chances now for speedy emoluments. Pour in the hard-earned treasures. Sure enough, a dividend of one per cent. per month! Forthwith, another multitude are convinced of the safety of the investment. The second month another dividend. The third month another. Whence do these dividends come? From the product of the wells? Oh! no. It is your own money they are paying you back. How generous of this company to give you five dollars back, when you might have lost it all!

But the dividends stop. What is the matter? Instead of the advertisement which covered a whole column of the newspapers, there comes a modest little notice that "a special meeting of the stockholders will be held for the purpose of transacting business of importance." Perhaps it may be to assess the stockholders for the purpose of keeping the little land they have, if they have any. Or it may be for the election of a new group of officers, for the present incumbents do not want to be always before the public. They are modest men. They believe in rotation of office. They cannot consent any longer to serve. Where have they gone to? They are busy putting up a princely mansion at Long Branch, Germantown, or Chelsea. They have served their day and generation, and have gone to their flocks and herds. Where is the Church of God, that she allows in her membership such gigantic abominations? Were the thirty pieces of silver that Judas received denounced as unfit, and shall the Church of God have nothing to say about this price of blood? Is sin to be excused because it is as high as heaven, or deep as hell? The man who allows his name to be used as president or director in connection with an enterprise that he knows is to result in the sale of twenty thousand shares of an undeveloped nothing—God will tear off the cloak of his hypocrisy, and in the last day show him to all the universe—a brazen-faced gambler. His house will be accursed. God's anathemas will flash in the chandelier, and rattle in the swift hoofs of his silver-bitted grays; and the day of fire will see him willing to leap into a burning oil-well to hide himself from the face of the Lamb. The hundred thousand dollars gotten in unrighteousness will not be enough to build a barricade against the advance of the divine judgments.

Think of the elder in a church who, from the oil regions, sends an exciting telegram, so that one man buys a large amount of stock at twelve, on Wednesday. The next day it is put on the stock-board at six. The enterprising man, who sold it at twelve, goes out to buy one of the grandest estates within ten miles of the city. The man who bought it goes into the dust; and the secret gets out that the exciting telegram sent by the elder arose, not from any oil actually discovered, but because in boring they had found a magnificent odor of oil.

If he who steals a dollar from a money-drawer is a thief, then he who by dishonesty gets five hundred thousand dollars is five hundred thousand times more a thief. And so the last day will declare him.