Republican farmer., 1920-07-30

a story that had an ending. Friends came and brought more friends and ad infinitum.
 .'Investigation of my business af- fairs impended. Naturally the news became general. I did not wait for the authorities to come to me. went to them and invited them to in- vestigate. For instance they sent two police officers down to look me over. Each invested a few dollars and each made 50 per cent on his in- vestment in forty-five days. They let their earnings ride and they are due for another harvest.
 T made millions of dollars. It was simple. Suppose you came to mo and gave me a thousand dollars to i'm vest. I purchased International pos tai coupons in Spain, we'll say. For one American cent or the value of that cent l purchase a coupon that is redeemable for cents here. That makes 400 per cent profit. Your thousand dollars makes 400 per cent profit pay you 50 per cent profit. and there you are I make $50 per cent pn your money"
 Here 1t must be explained however, that on July the authorities at Washington, hearing that some such transactions were going on, passed a rule that no one person could redeem more than ten such coupons-50 cents worth. Any excess offered at any post office had to be referred to Washington for approval Moreover Washington let it be known that they were noticing no great speculation in these international postal coupons and that the total redeemed did not exceed more than about $8 worth a day. Ponzi was reminded of this.
 "Ah. there you have come to it," he exclaimed. There you ask me for my secret. Well shall not tell you or any other persons. That is my business. How I get them. how I dispose of them and such things are my business. It is enough to assure you that there is nothing illegal.
 "As I said, had made millions. I purchased the controlling interest in large trust company. I opened of fices in Portland, Manchester, Ports mouth, Burlington, Lawrence, Lowell, Fitchburg, Brockton, Plymouth, Fall River, Taunton, Birmingham, Mill ford Providence. Woonsocket, Paw tucket, Hartford, Meriden, New Ha- zen, Bridgeport and down in New Jersey in Bayonne and Clifton. Soon should have opened great office in lower Broadway. New York
 The peak of my business was reached in May just two months ago. When I decided to suspend for the time being while the authorities sat- isfy. themselves that there is nothing illegal about 1t I was taking in about s25O,00o a day in my Boston offices and about the same amount through the branch offices. That made $500,- 900 a day, and there Is not one man who can say that did not keep my haf he invested with me Is not his for the asking, provided he does not want to wait the 45 days.
 T came to America when I was IT years old. I had precisely $2.50. My family is a good one and I was edu- cated in the University of Rome. Thirty-eight years ago I was born in Parma, Italy. started for New York to make money. I had the equivalent of $200 when started. but I was lnveigled into card game with men who played cards for a living. As I say, I landed at the Battery with just b2.5o I hadn't a relative in America I got a job at real 10 and 12 hours a. day manual labor there in New York, and believe me, I worked. lost that job and got another from a contractor. had to carry iron and cement I began to float around and fetched up in Pittsburgh, where l worked in a grocery store and in a cheap restaurant.
 "I decided I was losing my object i've or losing sight of it. had come to make money. I decided to get busy and relegated the mere holding of a job to second consideration. Each fob took was with the idea of look ing it over and seeing whether 1t was worth anything-if it promised any future If 1t did not I chucked it. was young.
 II turned up in Boston in 1917. IT January, 1917, went to work for the J.. R. Poole Company, merchant brokers here on South Main street be interested to know that I am thu company today and propose tncor porating it for s1O,000,0O0. I mar ried in February, 1918. Miss Ross C;uecco. a Boston young woman. Ant that Is all, think. Merely, I hap pened to discover something befor' any one else did. It might have beel you. It might have been my neigh hor It might have been grea banker. But it wasn't. It was Ponzi
 .'The authorities heer as silent They are too puzzled to have tim for words. Ponzi smiles at their dis comfiture. He has given his recor to them and it Is for them to discove his secret, for surely the man has
 secret He has many agents, but tn activities of the agents are as my sterious as Ponzis.
 "I think I should have cleaned u s35ooo00 this week had I not sus pended" he said this afternoon. ' think the United States Is putting i upon a perfectly legitimate propos' ton. know it is legitimate. I thin they're putting in. Why should concern the Government what m secret is so long as I have twice a much money in reserve as is neede to settle all possible claims upon me
 "I can tell you this much. I al not redeeming these international rt ply coupons in this country. I hay never said that I am doing so and
 never shall say so. And I arh pel lectly well aware that France, Ita
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