The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1920-08-10
SIMPLE METHOD
BRINGS RICHES
Ponzi Made Millions
Trading 6-Cent Reply
Coupons.
.ON BORROWED CAPITAL
Alleged Explanation of Fruit
Dealers Rapid Rise to
Affluence.

when Charles Ponzi. latest heir
apparent in the royal family bf
Cash, founded by King Midas, writes
n contributor to- the Kansas City
Star, stepped 'ito the spotlight n
week or so ago, and II became
known he had made millions for
himself and thousands for others, In
a few months, everyone said;
"Why couldn't l have done that?"
It's an old question. The boys
who uscu TO loaf around the corner
drug store with Aladdinn in Arabia
asked It when he began wishing
himself into spending money by
ynassaging an old lamp. Every
Slime anyone has discovered short
Scut 10 the pot OF gold at the end Of
the rainbow since that time we all
have felt that our intelligence has
been insulted and we indulge in self
cross examination in an effort TO
determine why we didn't think OF
It first
Charles Ponzi was discovered by
The world in n stuffy little office on
School street in Boston paying 100
per cent on all the money people
would lend him for ninety days and
80 per cent on forty-five day loans.
Plainly, II wasn't philanthropy. That
isn't the way philanthropists usually
operate.
Upon being questioned Mr.. Ponzi
calmly admitted that he haa made
SIC 900. 900 in six months and was
still going strong!
Shades Of 7. Rufus Wallingford.
The famous financial whang OF fic-
,tion very seldom cleaned up a sum
Ptf that proportion In six monthly
margarine instalments.
So all ambitious inhabitants Of this
old cosmos revived the question;
"Whv couldn't have done that?"
To which the prosperous Mr. Ponzi
answered:
You could have-iust as easily as
j did. II was the simplest thing In
the world. Lots Of bankers are
doing a. but they aren't saying n
word about It. I'm letting the public
IN on my profits"
What Made II Possible.
Here is the formula That Charles
Ponzi beat you 70:
WAY back thirty years ago, Mt an
internationaI convention in Rome,
the nations Of tho world sought
method that would facilitate postal
communications between nations.
As result an international reply
coupon was established. by this
coupon n person In one country, who
wanted to insure n reply to letter
or an order. could purchase one of
these coupons inclose II In letter
and Il would be accepted at a post
office Of any nation subject to the
agreement for face value.
For years persons have been do
ing business with this coupon, VIII ch
cost only cents, without the slight
est idea that 1t was anything but
Just method of making interna-
tional dealings easier. Import and
export firms found them especially
convenient. +
Then along came the war ahd
when barrage and smoke screens
had cleared and the world began
10 settle down again. the currency
OF European nations took a fright
ful drop in value
when the Idea Struck Him.
Along about that time Ponzi,
fruit merchant in Boston. got a let
ter from "A friend in Europe who
wanted him to send a book. lie
inclosed some reply coupons. 1t was
then that pon2i discovered that these
coupons were worth much more in
some countries than in others, some
times six or seven times as much.
And that was all Mr.. Pon2i needed
TO know. lie discovered 1t first.
You could have thought OF II just
as easily as he did But you didn't
Ponzi didn't have any money, how
ever. SO he began to borrow, prom
Using so per cent interest in for.y-five
days and twice that amount in twice