“Why, the thing is very plain,” said he; “the people that came there have a use for all their money. Money is readily worth twenty-five per cent. a month at Frogtown, and it is hard to get it at that; men can do so much better there.
“I have in mind, now, a man who came there over six months ago with two thousand dollars; he has invested it in such a way that it is returning him four thousand dollars a month. Any man who knows anything about the business there, will readily put in his money where it will make him a fortune: it is the best place in the world for investing money.”
“That does not answer the question,” said another: “why can’t you get the money in some place near Frogtown, from people who know about your mine, and know how rich it is? and, any way, if you have so valuable a mine, why do you want to raise money?”
The Frogtown adventurer smiled a sarcastic smile, as if amused at the ignorance of the questioner. The smile was brief, but convincing, and gave full weight to the statement which followed it.
“Suppose now,” said he, “that you are in a house where you had a clear title to anything you discover. Going through the cellar of the house, you find an iron chest: you strike that chest, and you are sure you hear money rattle inside of it. You attempt to lift it, but find it too heavy: now what do you want to do? Plainly you want to open the chest; but it is firmly locked and is very solid. You look around for some implement with which you can break it open, but nothing of the sort can be found. There may be other men standing around, but nobody among them has any tools that will help you. You look all through the house, but not a tool can be discovered: plainly you must go out of that house to find something that will help you to get at your money.
“Now, that is exactly the fix that we are in: our mine is the money chest, Frogtown is the cellar, and Nevada is the house. To open that mine, to make the shafts and to get the machinery, we must have money. The silver is there, plenty of it; but before we can put it into the market we must dig it out and refine it, and that is exactly the position. Your money chest will be of no use to you until it is opened, neither is the mine of any use until it is at work. You might have a property worth a million of dollars and not have a shilling to buy your breakfast with.”
PLAUSIBILITY OF A SWINDLER.
He repeated that winning smile, and we were convinced. He continued, “I will not sell the whole mine for all the money in New York, but I am ready to put it into a stock company, and sell half of it for sixty thousand dollars; and as soon as the money is paid in, we can go to work and develop the mine. It will return you, gentlemen, a hundred per cent. a month on your investment, and it will begin to pay dividends within three months, and the dividends, gentlemen, will be paid in coin, dollar for dollar.”
This was better still; gold was then at a high premium, or, what amounted to the same thing, greenbacks were at a heavy discount. Twelve hundred per cent. a year in coin was something not to be despised. We thought we ought to get more for our investment, but were willing to begin at that rate.
We made up the company, and were only allowed to put in one thousand dollars each. The speculator was a philanthropist: he wished to benefit as many as possible of his fellow-men; he would not consent that so great a blessing should be enjoyed by a few. “I want,” said he, “as many men as possible to have an interest is this matter. I want to show everybody that I am dealing fairly and honorably; and to satisfy you that everything is correct, I have plenty of references.” He mentioned several gentlemen more or less well known.