chapter  Chapter XI
6 Pages

Speculation By Machinery

ByRobert E. Wright, Richard Sylla

Everything, is done by machinery, and there is consequently no need for astonishment at finding that machinery is in existence for directing human volition. The most accomplished professional speculators make it their business to study the peculiar tendencies of people who have any money over and above what they immediately require for necessities. The different classes of investors must be passed through the speculator’s machine like the threshed corn, and when the husks and dust have been winnowed from the solid grain, he proceeds to classify them, and, as far as possible, learn their tastes in the matter of investments. Investments provided by machinery can be done on a very large scale, and when successful are as a consequence very profitable. The finessing which was at first necessary to accustom the public to joint stock undertakings was gradually followed by a thirst for shares, because all such concerns for a considerable time were associated with a premium.