human
How about the Wall Street racket?
gpt
You refer to speculating, I suppose?
human
Yes. You see my capital ain't earnin' me nothin'.
gpt
Well, I have had very little time to think about that since we first spoke of it. In fact, I am not in favor of the idea.
human
What! not in favor of spekerlatin'?
gpt
Nuther am I, put in Tom, wisely;
human
I don't think it's safe.
gpt
But you think it's safe to bet on horse racin', don't you, Tom Flannery?
human
Well, it's safer'n what spekerlatin' is, that's what I think, Bob Hunter.
gpt
Humph! You know a lot, don't you, Tom Flannery?
human
No, I don't know a lot about them Wall Street schemes, ef that's what you mean; but I guess I can pick a winner at racin'.
gpt
Well, ef you don't know nothin' about spekerlatin', how are you goin' to use any judgment? Tell me that now, Tom Flannery.
human
You kinder want to bulldoze me, don't you, Bob Hunter? You've got your head sot on spekerlatin', and you want to make me think jest like you do.
gpt
You tire me, Tom Flannery, said Bob, with a great show of disgust.
human
I'd try and have some sense, ef I was you.
gpt
All right, Bob, then I'll try 'n' have some sense--I'll do jest as you say, and spekerlate till my five dollars is all blowed in. Now, does that satisfy you, Bob?
human
Why, that's all right, Tom, said he, instantly changing his attitude.
gpt
I don't care nothin' about your spekerlatin' ef you don't want to; but I want to make some money, that's what I do, and I thought you did too, Tom.
human
So I do, Bob, so I do; but you see so many folks loses money down there in Wall Street, and some of them big fellers, too, with heaps of money, just dead loads of it, to back 'em.
gpt
Well, that's so, Tom, I know they loses sometimes, but don't lots of 'em make money? Now answer me that.
human
Yes, you are right, Bob, they do some of 'em strike it rich, but as you said about the racin' I guess the money ain't good money, fer it don't stick to 'em.
gpt
Well, I should think it stuck to Jay Gould, didn't it?
human
Yes, he is one of the few successful ones,
gpt
Yes, but there are lots and lots of them kings of Wall Street,
human
So there are, Bob, replied Herbert,
gpt
Think of that, Bob,
human
Well, I know, but then them kings don't all go up like that.
gpt
But the majority of them do. If you will get a book that gives the history of Wall Street, you will be surprised to see how thousands, hundreds of thousands, and even millions, are swept away almost without warning.
human
Whew! just think of it! A whole million dollars! exclaimed Tom.
gpt
Say, Herbert, how much is a million dollars? It must be a whoppin' big pile, that's what I think.
human
A million dollars--let me see, Tom, how I can explain it so that you will comprehend its----
gpt
So I will what? interrupted Tom, doubtful of the meaning of the word
human
Now, Tom, you have a five dollar bill, and----
gpt
Yes, and it's a new one, too, crisp as a ginger snap,
human
All right, then, a new five dollar bill. Now, suppose you had altogether twenty bills just like this one, you would have how much money?
gpt
Can you tell, Bob?
human
Why, of course I can!
gpt
Well, let's see ef you can.
human
One hundred dollars,
gpt
I guess that's right, Herbert, a hundred dollars; but I never see so much money all at one time, did you, Bob?
human
Then, Tom, you understand how many five dollar bills it takes to make one hundred dollars. Now, it would require ten one hundred dollar bills to make one one thousand dollar bill.
gpt
Gewhopple! that's climbin' up, ain't it, Bob?
human
Oh, but that's nothing, said Herbert.
gpt
Just listen: It would take a hundred one thousand dollar bills to make one hundred thousand dollars, and it would require ten times one hundred thousand dollars to make one million.
human
Well, that's fur enough, said Tom, scratching his head.
gpt
Don't give me no more tonight, for I can't take it in no way. A million dollars; and you say some er them kings loses so much money as all this in almost no time?
human
Why, yes; perhaps in a single day,
gpt
And you think, Bob Hunter, that we could go down there with only five dollars apiece and lay out them kings and scoop the boodle, do you? Now, answer me that.
human
Well, it does seem kinder like takin' chances, ef them fellers loses money like that.
gpt
Of course it does, Bob, fer you see we wouldn't have but one go at the game with only five dollars; would we, Herbert?
human
Five dollars wouldn't go very far, for a fact, replied Herbert,
gpt
But I've heard of fellers that went down there without no money, and they made loads of it.
human
Very true, said Herbert;
gpt
No, I never did,
human
Well, now, there is the very point, said Herbert,
gpt
What becomes of it all?
human
Well, the most of it goes into the pockets of the kings.
gpt
Then I shouldn't think them kings would get busted, as you say they do,
human
They would not if they had to deal only with the small speculators, such as you would like to be. If that were the case they would win nearly every time. But kings are the ones who break kings.
gpt
Oh, I see now, said Bob.
human
There are a lot of 'em, and they jest go for each other. Is that it?
gpt
Yes, that is the way they do it.
human
Well, I guess you are right, then, Herbert--you and Tom.
gpt
I feel sure I am. Mr. Goldwin talked with me about it today, and told me never to speculate.
human
But he speculates, said Bob,
gpt
Oh, no, never.
human
What's he call himself a broker for, then?
gpt
Why, a broker is not necessarily a speculator. A broker is one who buys and sells stocks or bonds for some one else--for a speculator, and he gets his commission or pay for doing the business.
human
Well, I guess I was way off, Herbert. I thought all of them brokers was speculators, and I knew lots of 'em was solid with money.
gpt
Yes, that is the way of it, replied Herbert.
human
The broker makes the money and the speculator loses it, usually.
gpt
Don't brokers never lose nothin', Herbert?
human
No, not unless they trust some one who fails to pay them.
gpt
Well, I thought you would get sick er spekerlatin', Bob, and I'm glad you've done it before you're broke, said Tom Flannery.
human
I don't want no spekerlatin' for me.
gpt
No, but you'd like a go at horse racin' all the same, Tom Flannery,
human
No, I wouldn't nuther, Bob, fer you talked me out er bettin' and into spekerlatin', and now Herbert here has jest upset the spekerlatin' idea, so I'm out of it all, Bob.
gpt
Good, said Herbert;
human
I am glad you have come to so wise a decision.
gpt
So am I,
human
So am I,
gpt
But now, said Bob,
human
I think the best plan, Bob, said Herbert, thoughtfully,
gpt
I never thought of that before,
human
Nuther did I,
gpt
Strikes me 'tain't a bad scheme, continued Bob.
human
What do you say, Tom?
gpt
Well, I don't see no great money in it, anyhow, answered young Flannery.
human
But if Herbert says it's the best thing, why I s'pose 'tis.
gpt
It is the best plan, I am sure, said young Randolph.
human
Very few speculators ever come out rich. The men who gain wealth are those who invest their money carefully, and put it where it will be safe.