Streetwise Professor

July 1, 2008

La Plus Ca Change, Oil Speculation Edition

Filed under: Commodities,Economics,Military — The Professor @ 9:27 am

Over the weekend saw an interesting presentation at the Missouri Historical Society by Gari Carter. She spoke about her book, Troubled State, which is based on the diaries of Franklin A. Dick, the Provost Marshall General of Missouri during the Civil War. Leafing through the book, one passage caught my eye:

But the People of the North have become accustomed to the war–here in Phil’a the People go on just as ordinary times–They gay continue their giddy amusements–the errands go on with business as usual, & the war is an interesting topic, which they keep more less in mind.

But the rise and fall in prices, seems to be a nearer & more vital subject to most of the people–the mania for speculation in oil stocks is very great–All classes & descriptions of people here are in it, and large fortunes are lost & made rapidly in those gambling operations.

Do Bart Stupak and Joe Leiberman know about this?

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