The morals of trade; Two lectures I. An inquiry into the actual morality of trade. II. An inquiry into the causes of the existing demoralization and ... Given in the Anthon memorial church, New York - Softcover
Synopsis
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1876 Excerpt: ...closed their stores and offices, and went upon the street; using the verbal forms of traffic in fictitious bargains never intended to be carried out, to give respectability to their actions, betting really on the value of the nation's due-bills at a given date in the future; and speculation pure and simple became a recognized department of business. The utter demoralization of all this might easily have been foreseen. It is felt now in every branch of business. There is scarcely a line of trade which does not have to gamble in its bargains. The young are possessed with the mania of seeking wealth without paying the equivalent of hard work, which can only mean gambling or stealing, and is likely to mean, as we so often see, the one leading to the other. Real business is slow going for the most part, and does not satisfy the fevered appetites of our people. They are not content with gradual accumulation of moderate fortunes. They hunger for the very excitement of gambling. They will risk largely in the hope of winning prizes in the lottery, and missing must recoup themselves in some way or fail; and hence the embezzlements and peculations with which our papers teem, made generally in the expectation of repayment upon more successful ventures, and thus leading unfortunate men on to the final catastrophe of defalcation and absconding. Nor has this been all the evil. While these national notes of hand were recognized as merely such, men could scarcely think that they constituted national wealth. They were not identified with money, except on the assumption of the nation's faith and ability to make them good eventually for their face value in gold. To encourage the people in accepting them, and to remove the stringency in circulation created by timidity's hoardin...
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