Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-11-03
JOAQUIN MILLER
The Poet's Rise and FaH as % Wall Stras,
SpecuIator
IOalifnrnian

californian.
Last spring I received letter from tho al
itor of the chief London magazine ask;no
me to write him an article to be entitled "a
Week in Wall Street."
knew nothing whatever of Wall streat
then. resolved, however, to oblioe INV
friend. went into Wall street at once To
get the desired information and experience.
This was six months ago. have mat oot
back. l have not written line of that ar
| ticle. But I have material enouoh In
write book bigger than MacauIay's "His-
| tory of England" know all / want IN
know about Wall street. And, if Won will
| pardon the depression, may add that am
| getting bald headed.
Finding but little interest in this great
raelstorm of excitement without taking
part, L, under the advice of nv broker.
bought little Wabash. bought Wabash
because 1t WIS the first stock on the LIST
winch L could distinguish from the mass of
ZoU names. And L came to remember il be-
cause had been born on its banks. as IL
were. Indeed, on the very banks of the
wabash river have seen my father furrow
the field for corn in the spring, while INV
mother followed after, dropping the corn in
the furfow; while three little BOYS toddled
after, myself of the number and covered the
grain that lay in the little squares of the
mellow earth. And so it was with a touch
of tenderness that bought Wabash, and be-
came one of the eager party holding on to
the tape, watching, waiting the turn of for
| tunes wheel
She did not betray me. My stock began
| to move upward from the first. It was not
| q n m ITl0u III Tr,&o-
| called the click of the "ticker" the pulse
| and heart beat of the nation. If the land
was healthy aud prosperous, the pulse beat
high and buoyant. If the land was threat.
ened with drouth, short crops or misfortune
of any kind. the pulse was low, feyerish and
dull. It was like poem.
had now an interest in the prosperity of
the land beyond sentiment. was part
| owner in the one hundred thousand miles of
| railways IN America. From ttat day forth
| studied the geography Of my country as
never before. My little up town room in
| the fourth story WAS lined with maps of
American railways. In less than week
could quote the opening or closing prices of
half the stock on the list.
How patiently held on to the tape along
| with the other timid and hopeful little
lambsl We would exchange opinions, en-
courage each other and lay great plans for
| the future. We became very confidential,
our little knot around that s'ticker." and
| when one of our set last money he had our
honest sympathy. They were pleasant days
the first, for stocks went up steadily, and it
seemed at last, when and where had least
| suspected it, wassto make fortune with
out either care or toll. 1 am perfectly GER
tain that in those few weeks grew to be a
better man.
| At last closed out. had in my hand
more than $4,000. I had not invested so
many hundred. What scribe had ever been
so fortunate! Stocks still advanced. It seemed
as if they would never stop going up.
sat down and tried for days to decide
what TO do. Coolly, deliberately, and after
as much and as mature thought as I am
capable of, went back to Wall street with
my money. l had no use for $4,000; had
great use for $4,000. hug myself in salts
/ faction now to remember that I thought not
so much of myself as of MY friends at that
| time. I could get on with that sum we'll.
Bat away out on the great, gold shore of the
vast West sea I wanted to build home-a
city. would gather about me the dear
spirits of old. Ia some sweet spot where
| there were woods and cool waters, a warm
snn and prolific soil, We would meet and
build city-a city of refuge-where every
| Bohemian might come and have a home,
rest, peace, plenty, so long as he or she
should live or care to STAY. I even drew up
plan of my city, and framed a few brief
laws for its government. I named it Utopia.
| On returning to Wall street 1 chose three
| different brokers-one "bull" house, one
"bear' house, and one Conservative
house. By this I hoped to get all sorts Of
| opinions. got them.
| With my "bears'' sold ST. Paul short.
There was talk of rust, grasshoppers, rains,
floods. st. Paul would tumble to the CEN
ter. It had already advanced from 18 20 So.
1 sold at SO, 70 and II.
/ With the sbulls'' I bought Pacific Mail
| No danger of grasshoppers on Pacific Mail
No drouth, no floods or rust. Pacific Mail
had fallen from 62, and would surely 90
| back up to 80. bought Pacific Mail and
sat down to wait for it to go up and st. Paul
| to go down.
Things began to move my way. began
| to work vigorously on the plans for my city.
l had arranged to bring my dear old parents
away from the far west wilds of Oregon,
where they had dwelt for quarter of
| century. They had never seen the great
city. Now they should ses If, hear The
mighty preachers, and sail on the Atlantic.
How life w1dened out! had an interest
now in every ship tina. sailed. The flow of
money to or from the land was to me of
vital concern. All commerce was as rich
| with interest to ne now as the poetry of
Homer. At 10 O'Clock sharp 1 found my
self holding on to the tape, waiting to see if
had grown richer or poorer through the
night. All day, till the hammer fell, stood
with my finger on the pulse of commerce.
How did come out Oh! Well, was
short of st. Paul and long of Pacific Mail.
| I expected Pacific Mail to 60 up and st. Paul
to 60 down. They did, and had $21, 900.
But that was not enough to build a city
| with. held on.
One day it was rumored that the rust was
not so bad in st. Paul after all. 1t began to
start up! Pacific Mail began to shoot
down. 1t was said the Chinese had estab-
lished an opposition line. I tell you it takes
big man to sit on two benches at a time.
Ten to one he will spill himself between TIE
two Just as sure as he attempts it.
| sold some st. Paul and bought more
Pacific Mail-but all to no purpose. They
kept right on. Then 1 get out of Pacific
Mail at the lowest figure 1t touched and
bought Wabash. 1 began to founder, and
1 cot friohtanad 7 sold and hOuoht and