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nydus/Frenzied Finance, Vol. 1: The Crime of AmalgamatedPublic

This volume compiles a series of articles originally published in Everybody's Magazine concerning the practices of high finance. The author presents a historical account of business dealings spanning twelve years and challenges readers to evaluate the veracity of the events described.

Page 192 of 731
Table of Contents

CHAPTER XXI

As each man reports the other chiefs and Towle discuss the details, and when a decision on disputed points is arrived at, Towle makes a memorandum on his blank, and the chief concerned records the order in the little note-book which each carries. All reports at last in, Towle retires to Room 11 and speedily returns with the "stuff," consisting of cash, stocks, puts, calls, or transportation tickets, which he deals out to the chiefs to make good their promises for the day. It would have been obvious to the outsider, as soon as he had learned what was being dealt in, that a large proportion of the members of the Great and General Court of Massachusetts had bargained with the different members of "the machine" to sell their votes not only in committee but in full session of the Legislature, and that the price was to be paid when the votes were cast, though something was invariably exacted on account, to tie the bargain. Payment was made in cash, calls on Bay State Gas or Dominion Coal, or transportation on any of the railroads in the United States or Canada. The latter appears to be a class of remuneration Towle favored, probably because it cost nothing.

The conference seldom closed for the day without Towle admonishing his subordinates: "The old man's getting dead sore at the way his leg is being pulled, and if you fellows don't get those countrymen to play a more liberal game, they'll just drive the boss out of the business, and then there'll be a slump in prices that'll make them prefer to stay home and farm."

You may ask here, Could such things happen without attracting public attention? Or are the citizens of Boston so habituated to the corruption of their Legislature that they could witness unmoved this wholesale bribing campaign conducted in full daylight from Young's Hotel? Thank Heaven, this is not so. There are in every American community honest,

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