If a rule were made compelling a seller to show his
responsibility before selling, every member would have every other member
at his mercy and there could be no stock-gambling. When I had worked this
out, I saw that while the few tricksters of the 'System' had a perfect
device for taking from the people their wealth, I had discovered as
perfect a means of taking away from the few the wealth they had secured
from the many. With this knowledge came a conviction that my way was as
honest as the 'System's,' in fact more honest than theirs. They took from
the innocent, I took from the guilty what had already been dishonestly
secured. I determined to put my discovery into practice.
"I might never have done so but for that Sugar panic in which I was robbed
of millions by the 'System' through Barry Conant. In that panic the
'System,' with its unlimited resources, filched from the people by the
arbitrary manufacture of stocks, and by their manipulation did to me what
I afterward discovered I could do to them, without any resources other
than my right to do business on the floor of this Exchange. You saw the
outcome, in the second Sugar panic, of my first experiment. In a few
minutes I cleared a profit of ten million dollars.
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