A "Get Rich Quick" Swindle To Phineas T, Barnum, the celebrated circus man, is credited the cynical aphorism that "a sucker is born every minute," and Barnum's imitators have improved on the original by adding, "'and there are two to get him." I don't know whether the American is more gullible than the Euronean, but the "sucker" (the fool, the easily de-ludod) is always with us, and is a gold mine for the swindler and the slick artist. who operates to separate the credulous from his money, writes Mr. Maurice Low, Washington correspondent to the "Morning Post.'"
Srey Srreas or Deposits.
The Ponzi affair is the latest expose of get-rich-quick finance. Six months or so ago Mr, Charles Ponzi, a suave and personally attractive young Italian, who came from nowhere, opened an office in the financial district of staid and conservative Boston and advertised that he would pay 50 per cent. interest every 90 days on all money deposited with him. It sounded attractive. his agents went out among the Italian labourers and induced them to give their money to the wizard, and in a very short time there was a steady stream of deposits, Ponzi was better than his word. The original investment, plus 50 per cent. interest, was returned in 45 instead of 90 days. Quickly the glad tidings spread, and then all that the suave and' smiling young Italian had to do was to sit back and watch the ever-rising flood of money engulf him. Branch offices were opened in Massachusetts and the other New England Statesy the business that had started on nothing' was now an assured and solid success; instead of handling thousands as he had done at first, he was now counting millions.
Text read from the printed page and cleaned; old type leaves the occasional error.