The Boy Broker Part 31

"So I will what?" interrupted Tom, doubtful of the meaning of the word "comprehend."

Herbert made this clear, and then said:

"Now, Tom, you have a five dollar bill, and----"

"Yes, and it's a new one, too, crisp as a ginger snap," interrupted young Flannery.

"All right, then, a new five dollar bill. Now, suppose you had altogether twenty bills just like this one, you would have how much money?"

"Can you tell, Bob?" said Tom, grinning.

"Why, of course I can!" replied Bob, throwing his head back, proudly.

"Well, let's see ef you can."

"One hundred dollars," answered Bob.

"I guess that's right, Herbert, a hundred dollars; but I never see so much money all at one time, did you, Bob?"

Herbert proceeded with the ill.u.s.tration by saying:

"Then, Tom, you understand how many five dollar bills it takes to make one hundred dollars. Now, it would require ten one hundred dollar bills to make one one thousand dollar bill."

"Gewhopple! that's climbin' up, ain't it, Bob?" exclaimed Tom, incredulously.

"Oh, but that's nothing," said Herbert. "Just listen: It would take a hundred one thousand dollar bills to make one hundred thousand dollars, and it would require ten times one hundred thousand dollars to make one million."

"Well, that's fur enough," said Tom, scratching his head. "Don't give me no more tonight, for I can't take it in no way. A million dollars; and you say some er them kings loses so much money as all this in almost no time?"

"Why, yes; perhaps in a single day," answered Herbert.

"And you think, Bob Hunter, that we could go down there with only five dollars apiece and lay out them kings and scoop the boodle, do you? Now, answer me that."

"Well, it does seem kinder like takin' chances, ef them fellers loses money like that."

"Of course it does, Bob, fer you see we wouldn't have but one go at the game with only five dollars; would we, Herbert?"

"Five dollars wouldn't go very far, for a fact," replied Herbert, "and in my opinion it would be lost very quickly."

"But I've heard of fellers that went down there without no money, and they made loads of it."

"Very true," said Herbert; "but did you ever hear of the thousands that went down there and came away without a cent?"

"No, I never did," admitted Bob, frankly.

Tom smiled quietly, for he felt that Bob would have to acknowledge himself mistaken, and at last come over to his side.

"Well, now, there is the very point," said Herbert, "and it is the one that n.o.body stops to think about. A report is circulated that some one makes a big haul in Wall Street, and, without thinking about the thousands of people that lose money there, a thousand or two more people try their luck at speculating, thinking, each one of them, to make a great haul too. But the result is the same as it was with the other thousand speculators--the money is swallowed up, and gone forever."

"What becomes of it all?" asked Bob, much impressed by Herbert's well founded argument.

"Well, the most of it goes into the pockets of the kings."

"Then I shouldn't think them kings would get busted, as you say they do," said Bob, always keen at making a point.

"They would not if they had to deal only with the small speculators, such as you would like to be. If that were the case they would win nearly every time. But kings are the ones who break kings."

"Oh, I see now," said Bob. "There are a lot of 'em, and they jest go for each other. Is that it?"

"Yes, that is the way they do it."

"Well, I guess you are right, then, Herbert--you and Tom."

"I feel sure I am. Mr. Goldwin talked with me about it today, and told me never to speculate."

"But he speculates," said Bob, "and he is worth a lot of money."

"Oh, no, never."

"What's he call himself a broker for, then?"

"Why, a broker is not necessarily a speculator. A broker is one who buys and sells stocks or bonds for some one else--for a speculator, and he gets his commission or pay for doing the business."

"Well, I guess I was way off, Herbert. I thought all of them brokers was speculators, and I knew lots of 'em was solid with money."

"Yes, that is the way of it," replied Herbert. "The broker makes the money and the speculator loses it, usually."

"Don't brokers never lose nothin', Herbert?" asked Tom.

"No, not unless they trust some one who fails to pay them."

"Well, I thought you would get sick er spekerlatin', Bob, and I'm glad you've done it before you're broke," said Tom Flannery. "I don't want no spekerlatin' for me."

"No, but you'd like a go at horse racin' all the same, Tom Flannery,"

said Bob.

"No, I wouldn't nuther, Bob, fer you talked me out er bettin' and into spekerlatin', and now Herbert here has jest upset the spekerlatin' idea, so I'm out of it all, Bob."

"Good," said Herbert; "I am glad you have come to so wise a decision."

"So am I," said Bob, heartily.

"So am I," echoed Tom, with equal fervor.

"But now," said Bob, "what are we goin' to do with our money? It ain't earnin' us nothin', you see."

"I think the best plan, Bob," said Herbert, thoughtfully, "would be for you and Tom to put your money in the savings bank. There it will be safe, and will be earning a little interest all the time. Let it remain there until we see a chance to invest it to good advantage, and in the meantime add as much to it as possible."

"I never thought of that before," said Bob.