The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1893-02-14
NO DANGER OF CORNERS.
Henry Clews Tells Of Wall Street,
Pact and Present.
Why Many People Lose Their Money
How Cornelius Vanderbilt Cat HIS
Eye Teeth--Jay Gould and the
"Northwest Corner"
rcoPYRIGHT. 1851

The Wall street Of to-day has en-
! larged itself and all its capacities on the
nucleus OF the Wall street of ante-bea-
/ lum days, as rolling SNOWFALL enlarges
itself on small lump of snow some
mild day of winter, or as the fourth or
4 fifth power of number enlarges itself
on it's original integer. The square of
two is four, but its cube is eight, and SO
on. and concentrations of money grow
in the same way. There is no chance
work about this; it is the result of posi-
tive law. The few individuals who
started the New York Stock Exchange,
ninety-one years ago, under button
wood tree in front of what IS now No.
90 Wall street, put together the integral
number, which has ever since been
squaring itself, and cubing itself, and
fourth-powering itself, until it to-day
shapes the destinies of thousands of
millions Of dollars, and affects the
means Of livelihood of nearly seventy
millions OF American citizens, year in
and year out, without cessation.
It is the floating capital Of the nation,
and to certain extent Of the world,
that is all the time passing through
Wall street, and it is the habit Of Goat
ing capital to be always increasing, and
vet always parting with some portions
Of itself, TO enrich those persons or con-
ditions with which il comes IN contact.
When a stream, continually growing
into broader and deeper river, flows
through fertile country it does not rob
the land, although 1t makes its growth
out Of the lateral streams; on the con-
trary, its tendency is to irrigate and en-
rich the territory. The river does not
i've for itself.
Nor does Wall street live for itself. It
is n distri butor. Its useful effects are
unlimited by either creed or geography.
1t has taken greater advantage for the
general good of scientific discovery than
all the scientificsoci cites. Wherever the
electric wires have penetrated the Wall
street broker has followed. The members
of the stock exchange are through the
agency Of electricity in closer sympathy
with the great heart Of civilized human
ity than all the missionary and philan-
thropic societies in the world. They
are the great cosmopolitans of the
are In practical sympathy they excel
all organized and benevolent associa-
tons. They have. the means, in the first
place, and, in addition, their impulses
have a practical tendency, and arc the
outcome of practical minds.
A great many people come into the
game Of speculation as it Is carried on
in Wall street. and, not being well up
in the rules, or well informed as to
values. or as to the laws which govern
fluctuations of values lose their money,
and thereafter complain that the Wall
street dealers have robbed them. When
people have been robbed they naturally
apply to the police; but those whom we
mention, when advised to take this
course, qualify their assertions, and
hint at conspiracy. When advised to
lay their case before the district at
torney, they qualify again, by saying
that the Wall street dealers are simply
too smart for them to cope with. This
last assertion unfolds d useful
truth, too often lost sight of, which is
that certain education and practice
arc necessary to carry out any plan or
win at any game, How often the in
FAINT tIrnbles before it learns to walk!
Still, 1t keeps on trying, and wastes no
time in complaining THAI its elders are
too smart for IL to cope with. Who
ever won at checkers or chess on the
occasion Of the first game?
The business of Wall street requires
long and close training in financial af-
fairs, so thai the mind may be praoti-
cally familiar with speculative methods.
II this training begins in youth, all the
better. Among those with whom train
ing has thus begun many of our most
successful men arc to be found, al