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{{quote|Some of these schemes were plausible enough, and, had they been undertaken at a time when the public mind was unexcited, might have been pursued with advantage to all concerned. But they were established merely with the view of raising the shares in the market. The projectors took the first opportunity of a rise to sell out, and next morning the scheme was at an end. Maitland, in his History of London, gravely informs us, that one of the projects which received great encouragement, was for the establishment of a company “to make deal boards out of saw-dust.” | {{a|g|}}{{quote|Some of these schemes were plausible enough, and, had they been undertaken at a time when the public mind was unexcited, might have been pursued with advantage to all concerned. But they were established merely with the view of raising the shares in the market. The projectors took the first opportunity of a rise to sell out, and next morning the scheme was at an end. Maitland, in his History of London, gravely informs us, that one of the projects which received great encouragement, was for the establishment of a company “to make deal boards out of saw-dust.” | ||
This is no doubt intended as a joke; but there is abundance of evidence to shew that dozens of schemes, hardly a whit more reasonable, lived their little day, ruining hundreds ere they fell. One of them was for a wheel for perpetual motion—capital one million; another was “for encouraging the breed of horses in England, and improving of glebe and church lands, and repairing and rebuilding parsonage and vicarage houses.” | This is no doubt intended as a joke; but there is abundance of evidence to shew that dozens of schemes, hardly a whit more reasonable, lived their little day, ruining hundreds ere they fell. One of them was for a wheel for perpetual motion—capital one million; another was “for encouraging the breed of horses in England, and improving of glebe and church lands, and repairing and rebuilding parsonage and vicarage houses.” | ||
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Enough said? Apparently not. Despite McKay’s certainty, there is doubt<ref>From Wikipedia, at any rate.</ref> as to whether “A company for carrying on an undertaking of great advantage, but nobody to know what it is” ever really existed or whether that , too, was a joke — but, really, if this ''were'' a joke, does this not make the present phenomenon of the [[SPAC]] all the more preposterous? | Enough said? Apparently not. Despite McKay’s certainty, there is doubt<ref>From Wikipedia, at any rate.</ref> as to whether “A company for carrying on an undertaking of great advantage, but nobody to know what it is” ever really existed or whether that , too, was a joke — but, really, if this ''were'' a joke, does this not make the present phenomenon of the [[SPAC]] all the more preposterous? | ||
{{sa}} | |||
*[[Signs of the forthcoming apocalypse]] | |||