The World of The City

The World of The City

Author: Evans, David Morier

Cost: $11.99


Format: PDF

Notes

Born and bred in the City itself, the author David Morier Evans was a pioneering journalist with a life-long passion for the drama of London's financial life. Few could have been better placed to describe the daily work of stock and money markets in the first half of the nineteenth century. His connections and experience enables us to observe the City from the offices of the leading players of the day, to the scrabble for life of the City's most lowly occupants.

This book is a new edited compilation of Evans' "City Men and City Manners" and his collated "Speculative Notes and Notes on Speculation", first published between 1845 and 1864.

The downloadable PDF is not a facsimile, but a re-formatted and lightly edited text laid out in a clear legible style.

Sample pages can be viewed on-line here.

Book length: 93,000 words

Synopses of "The World of the City" by John Francis

Prelude - The State of the Money Market from A Fresh Point of View
Reading the Papers - Dreary Figures - Collecting the Dividend - Shovelling up the coin - A Daily Chronicler - A Paradise of Delights - The Money Brokers - "Go-betweens" - Their Untiring Exertions

A World Within Itself - Banks, Bills and Clearing Houses

The City - City Life - The Power and Riches of England - The Banking Interest considered - The Bank of England - Meeting and Dividend - Management of the Public Debt - Change in the Charter - Competition with Private Banks - Contraction or Expansion of Issues - The Bank Parlour - Portraits of Cashiers - Abraham Newland - Bank Clerks' Salaries - Private Bankers - Failure of Private Banks - Progress of Joint-stock Establishments - Comparison of Joint-Stock Bankers' Clerks with Private Bank Clerks - Salaries in Joint-Stock Establishments - Colonial Banks - Their Success in Business - Bill Discounting - The Chief Houses and Mode of Business - Second and Third Class Discounters - The Clearing House and its Functions - First Forged Note

Ornamental and Practical Banking

Old Princes Street - The New Banks - Commodious Premises - Mahogany, Glass, and Fretwork - Love of Show - Excessive Expenditure

From Private to Joint-Stock Banking

Private banks superseded - William Patterson, Jemmy Wood, James Gilbart - Notable bank suspensions - Greater security, interest on accounts - Competition and Amalgamations - Better connections

"Dark Sombre Morning — Bright, Glowing Eventide"

Panic Stalks the Land Again - Decennial pattern - Look back to 1857 - Who may be considered Safe and who Not? - Trials of a Faultering Fianancier - George Peabody Survives - A Philanthropists's Mission achieved

A Singular Development

Afternoon in the City - A Whirlpool of Traffic - A journalist on the trail - An imposing bearing - Envy - Fraud uncovered - William George Pullinger

Origins of the Exchange, Its Increase and Panics

Its Origin - Increase of Business by the Introduction of Foreign Loans and Shares - The Excitement of the Year 1824-25 -Constitution of the House - Broker and Jobber, and Mode of Business - Speculators and Time Bargains - Stringent Regulations of the Committee - The Spanish Panic of 1835 - Zumalacarregui's Death - Bulls and Bears

Rothschild, News, and Railways

The late Mr. Rothschild and his Speculations - His Mode of transacting Business - The quid pro quo - The Dinner Party at Stamford Hill - Pigeon Expresses - Their Establishment and Progress - The Death of Mr. Rothschild - Buying the News of a Pigeon Express - The Daily Press and their Expresses - The Railway Share Market - The Success of Young Speculators - The Commission of the Brokers - The Railway System - The "Little Go" and the "Alley-Men" - Their Stock Exchange and Manner of Dealing - Share Applications by the Fraternity

"The Little Go" and "The Alley-Men"

Allotments in 1836-37 - The System of Allotments and the Use of the "Alley-Men" - "Stag-hunting" - Sir Isaac L. Goldsmid and the "Alley-Man" - Bill-stealers - "Doing" a Bill and also the Acceptor - Bill-stealers and their Victims - The Formation of Public Companies - The Company-monger - Directors' Fees - The Calculation of the Guineas - Doctrine of Directors on Unpaid Services

Premium Hunting and Company Promotion

Premium Hunting - Foreign Securities - A New Fever - Company Mongers — Classes of Directors - "Skedaddling" to the Continent

The Late Foreign Stock Mania

Turkish, Greek and Spanish Debt—The Introduction of the Turkish Consolidés—Greek hopes—Disgraceful conduct—Depreciated Investments—The Course of a Mania

The Gold of California and Australia

Advantages, A Safety Valve — The Gold Rush makes San Francisco 1848-50—Geologists in Australia — New South Wales gold-strike in 1851—Victoria's production—Impact on the world's economy — Speculative trade, banking crash in San Francisco — Gold shares bubble, France — "Share Rigging" — "Blanks", lessons to be learned

Straws Tell Which Way the Wind Blows

City Haunts and Chatter — Cycle of Prices — Lesser speculators come and go — Outside Operators — Bright hats to greasy chapeaux — Defunct schemes to paper a room — "Knocked Out of Time" — Bird of Passage

A Few Minutes with the Cacique of Poyais

After the fall of foreign stocks — Dormant Stocks — Revival — "Rubbish Market", Waifs and Strays — United States Bank, from Dollars to Cents — "Poyasian Swindle", Gregor MacGregor — Land Warrants — Dutch buyers — The Tide Turns

The Periodical Payment of Dividends

Crisp Crumpling Banknotes — Golden precepts — The Sturdy and Cautious School — John Bull goes to the City — Appreciating the National Debt — Railway dividends, Miserable Failures — London and Northwestern — The Joint-Stock Banks, agreeably surprised

Some Extraordinary Operations

A Good Dinner, the Set Dinner Party — Men of Money — Currency Controversy, avoided — Gambling, Speculation and Manias recalled — Fallout from panics, gold and railways — "Californian Crushers", "Lombardo-Venetian" — Apprehension, joy, and exhaustion speculating in the stock market — Following on to Fortune, or Ruin

The Official Stock Lists - Past and Present
The old list of stocks — The Peace, and since 1815 — Cochrane — "Money-grubbing" — New introductions for speculation — Cycles and Lessons Unlearned — The Mass of Names, the long list of daily quotations

Merchants and Bankers -
From The Royal Exchange to Lloyds

The Royal Exchange — The Building — Its Altered Appearance since the Fire — 'Change and its Frequenters — Hours of 'Change — The Foreign Exchanges and the Dealers —The Rothschilds-Sketch of the Brothers-Their Mode of Business — The late Mr. Rothschild and his Wealth — The Barings — The Salomons and other People on 'Change — Characteristics of 'Change—Lloyd's Coffee-house— The Business of Lloyd's—The Subscribers' or Underwriters' Room — Lloyd's Books — Opening of the Rooms — Underwriting Vessels — Description of Underwriters — Speculative Underwriting — "Good Books" and "Bad Books" — The Merchants' Room — The Captains' Room — Mr. T. Ward — Mr. Joseph Somes — The Chart Room

Coffee Houses and Correspondents

The North and South American Coffee-house — Next to Lloyd's in point of Importance — Class of Visitors and Arrangement of the Room for Subscribers — The Successful Organization of the Establishment — The Supply of American Papers to the Daily Press — The President's Message — The "City Correspondent" of the Daily Journals — The "City Article" — Its Utility to the Public — The Times and the Exchequer — bill Fraud — The Herald, Chronicle Post, and Advertiser, and the Spanish and Portuguese Bondholders — Complaints by the Brokers of the Power of the Press — The Compromise of Claims by Foreign States — The City Article first Commenced — Rothschild's Expresses — The Companies of the Bubble Period of 1825-26 — North and South American Visitors — The Hebrew and the Yankee — The Superintendent of the Subscription Room — Mode of Inquiries

From The Jerusalem to The Jamaican,
Merchants for India, Australia and Russia

The Jerusalem Coffee-house — The Manager's System of Management — Special Interests attended to — The East India Merchants and Australian — The India Mai l— Class of Visitors — The Jamaica Coffee-house — Its Character and Frequenters — The Baltic Coffee-house — Speculations in Tallow — Russian Monopoly decreased by Supplies from Buenos Ayres and Sydney — Decrease of Speculation in the Article — Mr. Richard Thornton and his Dealings in Tallow — Mr. Thornton a General Speculator — Sales of Tallow, Oil, etc. — The Hall of Commerce — Mr. Edward Moxhay's alleged Motive of Construction — The Opening — Its Character — Rooms and their Purposes

Garraway's, Tea and Mincing lane

Garraway's Coffee-house — Its Business and Appearance — The Peculiarities of its Frequenters —Speculators at Garraway's — The Operations in Tea — Sutton the Superintendent — The Score settled —The Physiology of 'Change Alley — The Coffee-house Habitué—Hours of Attendance in the City— Mercantile Employment — Corresponding Clerks — Rates of Remuneration — The Brokers in the Produce Markets— Mincing Lane — Tea-brokers' Profits — The "Monopolist" Brokers — The Brokers' Ticket — Fraudulent Speculation — Sales at the Commercial Rooms — Sketch of Mr. James Cook

Speculations in Produce

The Players, Rothschild, Harman, Thornton, Cooke, James WIlkinson — Indigo, Cochineal, Tallow, Quicksilver — The Baltic Coffee House — More on tea speculation — Cotton, the Southern Secession — Fortunes made, "Cotton Carriages"

From High to Low

Influential Hebrew Houses — Sir Isaac Lyon Goldsmid — Bustle and Activity of City Life — The City as a Residence — City People — Their Peculiarities in Dress — The Ticket-porters of the City — City Vagrants — Their Habits and Resorts

"In and Out of Difficulties" or Prospective Bankruptcy

The sketch of a Essex grocer in a changing world —Melancholia and Pipe Dreams — Help perceived —An Accountant's Experience, Lessons in Arbitration — Compromise and Character

The Great Enigma — Who Can Solve It ?

A speculative Life — Foreign and independent — Trading in foreign loans — Dishonesty in private, dishonesty in business — Return to London — Second grade Speculators — Asphaltum and Bituminous companies, and Crash — Levanted — A Miner from Peru — Another disappointment

The Ruling Passion Strong in Death — A Speculator's End

Adventures of a Multifarious Character — Schemers — Deterioration in morals — Speculating on the Rise or Fall, the Inextricable Vortex — A young Spaniard Abroad — "First Bargain" and temptation — Monomania — "what a great number come to"

Wise Saws and Modern Instances - A Small Olla Podrida

Storytelling — The Old versus the New — School City meets West End — Turning Promoter — Clothes for the job — A Lesson in company promotion — Race to be First — A Manufactury for companies — A Phantasmagoria — Drawing Upon the Imagination: Abyssinian and Chinese Bonds? — Towering Schemes, the end has not yet come

Shadows of the Past—A Walk Round 'Change

Born to the City, a true son of Cockaigne — Childhood explorations, and reminiscences — The Great Vortex of Financial Life — Face to face with Rothschild — Goldsmid, Medizabel — The Leviathans of shipping — Destruction of the old Royal Exchange