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Literary
December 5, 1814
Kentucky Gazette
Lexington, Fayette County, Kentucky
What is this article about?
Satirical dialogue from the Boston Patriot depicting a merchant's failed attempt to buy discounted Treasury Notes from a broker, amid public exposure of schemes. Interactions with sailors and a soldier show notes trading better in New York and Baltimore, criticizing Boston's economic woes.
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FROM THE BOSTON PATRIOT.
DIALOGUE—No. 2,
Between a Boston stamp Merchant, a Boston stamp Broker, and others.
Merchant. Well, Mr. Broker, have you got my amount of Treasury Notes? Here is the notification from the Bank; my bond for 10,000 dollars is due and must be paid this day.
Broker. Sir, I have not been successful; the Patriot has blown us up; they have found us out, and exposed all our schemes; I calculated on fine pickings from the treasury notes; there is nobody will sell them to you at 15 per cent, except some poor devils who do not know their value; besides, there are few in circulation. It is not known generally, that more than all the treasury notes in circulation will be wanted to pay bonds at custom house coming due between this and the first of January. Then, again, they say government have got nearly all the loan filled up.
Mer. What a cock-and-bull story you have been telling me. Come, let me have the notes; I must go to the bank to take up my bond.
Bro. Is it possible, sir, you do not believe me? It is true, every word of it. I defy any man in Boston to purchase ten thousand dollars of treasury notes at 15 per cent. discount. I made no positive promise to get yours, even at that discount: mind that. Beside, the paltry commission I was to have was but a poor recompense, now that the deception is exposed. I have no part of the amount that you want, nor can I get it.
Mer. The devil you haven't!
Bro. And what is worse still, in a few weeks they will be up near par.
Mer. How can you account for this, sir? I can scarce believe my senses! is it so, indeed?
Bro. Yes sir, every word I have told you is true.—But hold—there are some sailors coming with a few; perhaps we may coax them a bit.
(Enter Sailors)
1st. Sailor. Hallo! shipmate—have you got any Spanish or Eagles? Let us have them.—Here's the bills for them, they bear interest, you shall have them into the bargain; d—n the interest—who cares for crumbs. (Throws down $300 in Treasury Notes.)
Bro. What! more of the bankrupt paper? Have you not read the Daily Advertiser and Palladium? You will see there they are at a great discount. If you want the money very much, you shall have it at 15 per cent discount, that is, $255 for the 300.
New York Sailor. D—n my eyes, Jack, but we have run foul of a shark. By my timbers 'tis true. Let us sheer off. Pocket your bills, and look to your locker. Good bye, Mr. Shark. Bear away for York: there, my boys, we will get the shiners for two in the hundred.
Baltimore Sailor. Heave ahead, boys, shape your course for Mob town. Let us quit Ben Bobstay's nest; the Baltimore boys will give us the shiners hundred for hundred. (Sailors walk away.)
(Enter Soldier.)
Soldier. Your servant. Mr. Broker.—Squire Jones told father to write to Sam—that's me—to lay out my pay in Treasury Notes, for him to pay his taxes with, and he would give me hard dollars for them, one for one.
Bro. How will you exchange?
Sol. Take my Boston bank bills, and give me Treasury Bills, one for one—that's fair—Squire Jones wants 'em to pay his taxes.
Bro. Yes, my good fellow, you shall have them. (Counts him down Treasury Notes, and takes the Boston bills. Soldier walks out.)
Mer. Well, sir, I see how it is. I have some consolation that if the Treasury Notes rise 10 per cent, my stock will rise also.—What a chance I lost last week of making 2000 dollars!
Bro. Very true, sir, I am sorry for you. (Merchant goes out displeased, cursing all Brokers.)
Bro. (Sees some sailors going up the street; calls them; they come, and he asks)—Have you any Treasury Notes, my good fellows?
Sailor. Yes, we have, you lubber, but the Lieutenant told us to take them to N. York or Baltimore, and that we shall. But harkee. I'll tell you a secret. He also told us to take care of the sharks!
Bro. Hem! I am!—Yes—No—No—I only want a few for a friend: come, let us have them at 10.
2d. Sailor. Come along boys—heave ahead—look out for sharks. Stand out of the way, Mr. Broker. Steer for New-York and Baltimore, and good by to the Boston Brokers—Old Boston is water-logged, and the pumps are bad. The sharks are eating her up—D—n me, they're eating one another! Hoist all sail for York.
N. B. It is a fact, that Treasury Notes pass in New-York at 2 per cent, discount, and at Baltimore at par.
DIALOGUE—No. 2,
Between a Boston stamp Merchant, a Boston stamp Broker, and others.
Merchant. Well, Mr. Broker, have you got my amount of Treasury Notes? Here is the notification from the Bank; my bond for 10,000 dollars is due and must be paid this day.
Broker. Sir, I have not been successful; the Patriot has blown us up; they have found us out, and exposed all our schemes; I calculated on fine pickings from the treasury notes; there is nobody will sell them to you at 15 per cent, except some poor devils who do not know their value; besides, there are few in circulation. It is not known generally, that more than all the treasury notes in circulation will be wanted to pay bonds at custom house coming due between this and the first of January. Then, again, they say government have got nearly all the loan filled up.
Mer. What a cock-and-bull story you have been telling me. Come, let me have the notes; I must go to the bank to take up my bond.
Bro. Is it possible, sir, you do not believe me? It is true, every word of it. I defy any man in Boston to purchase ten thousand dollars of treasury notes at 15 per cent. discount. I made no positive promise to get yours, even at that discount: mind that. Beside, the paltry commission I was to have was but a poor recompense, now that the deception is exposed. I have no part of the amount that you want, nor can I get it.
Mer. The devil you haven't!
Bro. And what is worse still, in a few weeks they will be up near par.
Mer. How can you account for this, sir? I can scarce believe my senses! is it so, indeed?
Bro. Yes sir, every word I have told you is true.—But hold—there are some sailors coming with a few; perhaps we may coax them a bit.
(Enter Sailors)
1st. Sailor. Hallo! shipmate—have you got any Spanish or Eagles? Let us have them.—Here's the bills for them, they bear interest, you shall have them into the bargain; d—n the interest—who cares for crumbs. (Throws down $300 in Treasury Notes.)
Bro. What! more of the bankrupt paper? Have you not read the Daily Advertiser and Palladium? You will see there they are at a great discount. If you want the money very much, you shall have it at 15 per cent discount, that is, $255 for the 300.
New York Sailor. D—n my eyes, Jack, but we have run foul of a shark. By my timbers 'tis true. Let us sheer off. Pocket your bills, and look to your locker. Good bye, Mr. Shark. Bear away for York: there, my boys, we will get the shiners for two in the hundred.
Baltimore Sailor. Heave ahead, boys, shape your course for Mob town. Let us quit Ben Bobstay's nest; the Baltimore boys will give us the shiners hundred for hundred. (Sailors walk away.)
(Enter Soldier.)
Soldier. Your servant. Mr. Broker.—Squire Jones told father to write to Sam—that's me—to lay out my pay in Treasury Notes, for him to pay his taxes with, and he would give me hard dollars for them, one for one.
Bro. How will you exchange?
Sol. Take my Boston bank bills, and give me Treasury Bills, one for one—that's fair—Squire Jones wants 'em to pay his taxes.
Bro. Yes, my good fellow, you shall have them. (Counts him down Treasury Notes, and takes the Boston bills. Soldier walks out.)
Mer. Well, sir, I see how it is. I have some consolation that if the Treasury Notes rise 10 per cent, my stock will rise also.—What a chance I lost last week of making 2000 dollars!
Bro. Very true, sir, I am sorry for you. (Merchant goes out displeased, cursing all Brokers.)
Bro. (Sees some sailors going up the street; calls them; they come, and he asks)—Have you any Treasury Notes, my good fellows?
Sailor. Yes, we have, you lubber, but the Lieutenant told us to take them to N. York or Baltimore, and that we shall. But harkee. I'll tell you a secret. He also told us to take care of the sharks!
Bro. Hem! I am!—Yes—No—No—I only want a few for a friend: come, let us have them at 10.
2d. Sailor. Come along boys—heave ahead—look out for sharks. Stand out of the way, Mr. Broker. Steer for New-York and Baltimore, and good by to the Boston Brokers—Old Boston is water-logged, and the pumps are bad. The sharks are eating her up—D—n me, they're eating one another! Hoist all sail for York.
N. B. It is a fact, that Treasury Notes pass in New-York at 2 per cent, discount, and at Baltimore at par.
What sub-type of article is it?
Dialogue
Satire
What themes does it cover?
Commerce Trade
Political
Taxation Oppression
What keywords are associated?
Treasury Notes
Boston Broker
Merchant
Sailors
Soldier
Discount
Satire
Economic Speculation
What entities or persons were involved?
From The Boston Patriot.
Literary Details
Title
Dialogue—No. 2, Between A Boston Stamp Merchant, A Boston Stamp Broker, And Others.
Author
From The Boston Patriot.
Form / Style
Satirical Dialogue In Prose
Key Lines
The Patriot Has Blown Us Up; They Have Found Us Out, And Exposed All Our Schemes;
I Defy Any Man In Boston To Purchase Ten Thousand Dollars Of Treasury Notes At 15 Per Cent. Discount.
D—N My Eyes, Jack, But We Have Run Foul Of A Shark.
Take My Boston Bank Bills, And Give Me Treasury Bills, One For One—That's Fair—Squire Jones Wants 'Em To Pay His Taxes.
N. B. It Is A Fact, That Treasury Notes Pass In New York At 2 Per Cent, Discount, And At Baltimore At Par.