Democratic messenger. [volume] (Snow Hill, Md.) 1869-1973, 1881-06-18
customer who perhaps gave himself airs

I customer who perhaps gave himself airs
on an income of two hundred year.
| He felt it was time for him to retire
, from the profession and devote himself
: to employing his capital ladvantageously.
With all his love of money, Job was a
speculator. He had great idea of
letting money get money. He liked to
look upon his sovereigns as so many
golden snowballs which rolled along
, gathering more gold as they went.
When at last, having taken decisive
step and comfortable apartments, in the
town he found himself an independent
man of means, Job plunged heart and
soul into the business of money getting
He became great authority on stocks
and shares and while other men were
studying the sporting columns of the
papers, he always turned to the money
article.
He invested every penny of his money,
and always in that which would bring
him the biggest interest. He had Span
ish bonds and Turkish bonds, and bonds
of those snug little States in South
America which were so generous in the
matter of interest.
For year or two all went on swim
mingly, and his speculations were pros
porous to degree. He got his big in
terest, lived on next to nothing, and in
vested the interest again so that it might
bring him more.
Many time when he was adding up
his possessions and putting down his
annual income in pencil on old billheads
of the hovel, he would think of Mrs.
O'Sullivan's words and laugh. The
idea of his being buried by the parish
It was just when he was most satisfied
with the pecuniary result of his invest
ments that things took turn. A period
of commercial depression set in, which
developed itself with energy. Foreign
States began to repudiate their labili-
ties home investments once considered
sound began to depreciate rapidly in
value.
Job became alarmed for some of his
securities, and rushed off to his broker
for advice. The advice given him was
sensible, but Job wouldn't take it. Panic
had set in, and Job was one of the nerv-
Gus holders who helped to make matters
worse.
His broker pointed out that to sell at
panic prices would be disastrous, but
Job would not listen to him. He would
save what he could; he must make up
the loss another way.
The first result of the panic to Job
was heavy loss of capital but he got
the bulk of his money out of the fire.
He held the bright yellow gold, instead
of the fiimsy paper that might some day
become absolutely worthless.
He kept his money in the bank idle
for week, and then began to fret. His
money was earning him nothing. What
was tie paltry three per cent. the bank
allowed to him who had been getting
seven and eight?
He read money articles and pros
pectuses of new concerns promising ten
per cent. till the figures danced before
his eyes. He half determined for six
per cent. investment which seemed
sound, and then he thought perhaps it
would be better to wait till something
turned up at seven.
At last he decided on six per cent,
and invested the money again. He
hadn't had the security month before
an alarmist article in one of the papers
made him i'll.
He lay awake all one night worrying
about his money, and the next morning
decided to realize there and then. He
made further heavy loss, for the alarm
ist article had had its effect but he sold,
and got some of the money out of the
fire. This time he determined to hold
it safe-he would pass no more nights
of agony. He kept out of speculation
for two whole months, and during that
time he was utterly miserable.
He groaned over his diminished in
come-over the interest he ought to
have been getting, and was not. Sud
denly a magnificent means of employ
ing idle capital was vouchsafed to the
British public. An enterprising gentle
mana man of such unblemished repu-
tation and probity that he leetured on
religion, and always carried pray
er book In his pocket-started bank
for the benefit of his fellow creatures.
1t was called the Cooperative Bank,
and those who were wise enough to de-
posit their money with the unblemish-
ed religious gentleman received 10 per
cent. for it. The philanthropic pro-
prietor of the bank made no mystery of
the reason he was able to allow such
interest for deposits. The marvellous
system of cooperation did it all. In
stead of being selfish, like the worldly
minded magnates of Lombard street,
who make fortunes out of depositors
and spend the profits on themselves,
this gentleman shared the profits with
the customers. The bank had its own
organ of publicity, which chronicled
the prosperity of the concern most
faithfully, and the manager also sent
pamphlets broadcast over the country.
Job Scudder studied the pamphlet
carefully, and he also read the banks
newspaper. He even went up to town
and saw the manager Everything was
explained to his satisfaction, even the
scandalous libels which were circulated
by other bankers against the concern.
Job quite understood, after an hours
interview with the philanthropist, why
the newspapers ran the Cooperative
Bank down. They were all in the pay
of Lombard street, and Lombard street
was frightened. It knew if this novel
bank were success it would have to
shut up. Who would deposit money at
3 per cent when he could get 10?
With the exception of very small
sum the whole Of Jobs capital still re-
naming went over the counter of the
Cooperative Bank-and it never came
back again.
A fortnight afterward the phiianthro-
| 11isf xvhn bo6 oovarad tho T,ond0n