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Phillips, David Graham, 1867-1911

"The Deluge"

But prices
on the Stock Exchange continued to advance.
"They are too strong for you," said Joe. "They will hold the market up
until the public loses faith in you. Then they will sell out at top-notch
prices as the people rush in to buy."
I might have wavered had I not been seeing Tavistock every day. He
continued to wear his devil-may-care air; but I observed that he was aging
swiftly--and I knew what that meant. Fighting all day to prevent breaks
in the crucial stocks; planning most of the night how to prevent breaks
the next day; watching the reserve resources of "The Seven" melt away.
Those reserves were vast; also, "The Seven" controlled the United States
Treasury, and were using its resources as their own; they were buying
securities that would be almost worthless if they lost, but if they
won, would be rebought by the public at the old swindling prices, when
"confidence" was restored. But there was I, cannonading incessantly from my
impregnable position; as fast as they repaired breaches in their walls, my
big guns of publicity tore new breaches. No wonder Tavistock had thinner
hair and wrinkles and a drawn look about the eyes, nose and mouth.
With the battle thus raging all along the line, on the one side "The Seven"
and their armies of money and mercenaries and impressed slaves, on the
other side the public, I in command, you will say that my yearning for
distraction must have been gratified.


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