The Caucasian. (Clinton, N.C.) 188?-1913, 1912-03-21
REAL ANCIENT HISTORY.
Continued from page -


vote for good rule, my friend-hit
don't grow on trees.
In 1716 the famous brand known
az the mississippi scheme wuz
started in Paris. Hit wuz one ov the
first great frauds ov somewhat mod
ern origin an affected the entire
financial world for a time. John
Law. a Scotchman, wuz said to be
the movin' spirit, though, az rule,
the Scotch people are too honest
for such things. The very great
ness Oy hit caught even the duke
Ov Orleans. No doubt some brilliant
lyin' wuz done about that time. The
proposition wuZ to pay off the i'm
mense national debt ov France. The
The country wuz then bein' run on a
paper basis" that il, the currency
issued wuz not based upon bonds,
gold, nor silver money-nothin' but
promise to pay. The company
mentioned above claimed to own or
control vast tracts ov American land
west oy the Mississippi River, that
country at the time bein' practically
unsettled except by Indians, buffaloe
and prairie dogs, an the United
States authorities were naturally
willin' to encourage settlers, though,
az a matter ov fact, when we cOnsid-
er the character ov many ov the
foreigners who hey since occupied
most Of the land, we would be about
az we'll of, if not better off, it it were
still in original grass an ''varmints. :"
But that may yet come out all rite
in the final wash. Really hit IL
strange that people do not appreciate
great tracts oy grazing or forest
lands but think hit must be settled"
with homesteaders an sheep-killin'
dogs in order to be worth somethin'.
But the mississippi fraud" wuz
great. A huge company, some ov
them honest men, no doubt, wuz soon
organized. AZ time went on, so at
tractive did the think become that
millions ov dollars were invested.
Great banks an wealthy individuals
crowded an struggled to get up to
the captains widow" an hand in
their dollars an yet a promise ov
some Oy the stock when ready to be
Issued. Hit became craze awlmost
TO be an owner ov one or more
shares ov stock. Even poor people
wanted pinch ov the stock If they
mad to sell the last hog, dog, calf or
chicken to pay for hit. Money went
into Paris so fast that a record
could hardly be kept, people ov 9TH
eT countries becomin' investor in
many cases There were no rail-
roads nor telegraphs then, but the
news had spread like terrible con-
tagion. More than 100000 people
paid money into the hearthless bo-
hanZa concern. The funds in the
great bank were soon exhausted an
the fertile lands west ov the Mis-
SlSslpl were still owned by the Unit
gu States Government an by indi-
Nduals. The great investment COM
pany didn't own foot ov land there,
not much at any rate. The morn
ing came an with hit severe f1nan-
eiaI headache, an 100000 people,
mostly French, were wiser, though
tue short session oy the school ov
experience had cost them owl they
'ouIo spare in most cases Many
sent TO work to retrieve what they
"o lost; others took the suicide
.oute or the drink route, an not a
*" wound up at institutions for
eAe insane. Besides individuals there
eFe many banks which were pulled
'ito the vortex by the failure ov so
ahy customers an depositors, for
mat time the banking business
"oZ not so well managed az hit Z
co-oay an even 4 slight financial
aurry Wuz likely to paralyze them,
u most ev them. To-day they are
oetter managed an the safeguards