The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-12-12
The Stock Jobbing Olga

We hear a great deal in certain journals Of the
slave oligarcby of the South and of the mischief
that is done in the general government by the
| malgn influence Of some three hundred thousand
| shareholders. Northern men are called upon to
| rise up and rebel against this scandalous, i'm
moral, unprincipled, grasping, arbitrary, uncon-
| stitational oligarchy, and we are told that the
country viii never have peace till it is over
! thrown. Perhaps little closer inspection Of
what is nearer home may reveal another oligarchy
that is far more influential and far more for
midable than tie shareholders That oligarchy
is the schemers, spectators and stock jobbers
the getters up Of banks, of railways accompanies
OF al kinds, and Of all the financial swindles OF
these latter days.
1t is powerful and wealthy body. There are
perhaps one thousand millions of dollars invested
in banks and railways ia the United States This
IL the stock in trade Of the oligarchy. With the
profits Of this enormous sum, it undertakes to do,
and really does-what the shareholders have been
so often accused Of doing-control the supreme
government 1t is the law of Congress. Men OF
experience know very well that the squabbles
about niggers in Congress are only tubs to the
whale, sham fights got up for the diversion of men,
bers and the edifcation OF the outside barbarian
public the real business Of that body is the granting
Of lands to railways, the appropriation of moneys
o schemeIs and steamboat owners, the renewal
Of patents. and the host Of devices by which the
lobby proposes to deplete the treasury. All of
these matters are the especial care of the North
err stock jobbing olgarchy. In comparison with
their magnitude how Insignificant The doings of
that other "oligarchyr Of Shareholders, Why
the stockjobbers-if the slavery men, pro and
con, were not in reality of the greatest use to
them, Dy diseIting attention from their schemes
aud amusing the public-would throw them all,
plantations and niggers, into a company, and
in week food Wall street with ebo shin scrip,
aud blackamoor bonds And, as for influence,
the stock jobbiug oligarchy buys up parties as
the members Of the other oligarchy buy single
buck Dsgqers
II has been charged against the slave oil
garohg" that it occasionally corrupts doughface
from the North. But the other oligarchy really
knows no North, no South no division lines
Of party, or barriers Of principle; distinctions
Of character, faction color or policy. II has It's
chiefs In every council as II has IL hand In every
mans pocket AT Washington, Col. Webb listens
approvin2ly 10 fiity-two thousand arguments ia
favor Of The schemes Of the oigarchy, adroitly
put by the other Colonel, Forney; at Albany,
the lamb Thurlow Weed lies down by the side
Of The lion Of the democracy, Erastus
Corning, and forgets his republicanism in
yisions Of privileges on Central. Democrat,
republicans, wings, Know Nothings, abolltionists
and fusionists, they all lose their distinctive line
al the approach Of plumber, and fuse into a bar
niosious golden shade IN the ranks OF the oil
garcby.
The slave oligarchyf has never been &C
eused even by lis b,,.erest opponents Of atsemp'-
ing 10 spread its influence beyond The federal
capital. But the stock jobbing oligfreby, az we
said. knowing no sectional divisions. invsdcs the
State Legislatures as openly as Congress, an,
rules as supreme at Albany aud Harrisburg as at
Washington. Pacific railroad bills at the one do
rot impede canal loans or monssrous charters fog
bubble companies at the other. The work goes on
Everywhere simultaneously the ollgarchy is ubi-
quitous ts agents are met at every corner. Politi
clans here, newspapers there DO its bidding aud by
one ard the other il rules the land. Al the word
Of command from the council Of the ogarchy,
Governor Clark, being inconvcniently long on
Central, pitches into Wall street IN his message;
The stock iobbers who own the Duly Tines join
In with a smooth. faced Methodis.ical whine
Erastus Corning thinks Wall street should be put
dowp, and the EDITORS Of the Albany Journal and
the Albany Argus earn their wages by exhibition.
Of Jealous ignorance 10 the same cause. They are
all n the plot; all members or servants OF the
oligarchy all resolutely bent on ruling the
country, and swindliDg the people at whatever
cost. either with canals, or banks or railroads
The supreme ruler of the State Of New York
Il al present The New York Central Railroad.
This i the concern which under guse Of
process called a consolidation, contrivcd year
or two back TO put ten millions Of dollars at
ote swoop into the pockets Of its managers by
issuing stock to that amount, unreprcsentcd by
money or property The stock issued, the pro-
blem was for the schemers to sell IL out TO the
public. This was undertaken with marvellous
skill II was put on the market at sl25 the
share, and an understanding was had among the
managers that IL should not be forced TO sale.
OF course The tendency Of the stock was 10 fal