Wacha, Dinshaw Edulji: Premchund Roychund: his early life and career (Bombay, 1913)

the speculation as it could possibly speak.
It is essential to reproduce here the para-
graph: "The year just closed will be
notable in the history of Bombay, as a
year hitherto unparalleled in the com-
mercial annals for the reckless spirit
of gambling speculation which possessed
a great portion of the community—specu-
lation which resulted to large numbers, as
might be expected from its character, in
utter ruin and disgrace. The unexpected
wealth poured into the lap of Western
India by the terrible incident of the
American Civil War was not used wisely.
Two years ago a mania for share specu-
lation broke out which continued to grow
in intensity till it seemed to absorb the
time and attention of the community.
The legitimate trade of Bombay was
comparatively neglected, and the energies
of the people devoted to the promulga-
tion of schemes, the utility of which to
the public was probably the last thing
thought worthy of consideration by the

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