DOI Page / Citation link:
https://doi.org/10.11588/diglit.27741#0091
promoters. The poverty of invention
displayed in the forms which the various
speculations assumed was as remarkable
as the folly which frequently characteris-
ed them. Bombay was hooded with
' Financial Associations ' and doubtful
schemes of reclamation. Valuable works
of reclamation of the greatest public utility
in the course of construction and sound
banking institutions were for a time prac-
tically discredited by the gambling that
prevailed in their shares."
Four years after the event, when the
aftermath was realised in all its distress-
ing details, and Bombay had lost all her
mercantile reputation and credit, the
Bank of Bombay Commission, tersely
observed in a tone of the greatest judicial
serenity, unmoved by passion or pre-
judice, as follows, corroborating the
Chamber's opinion:—"The great and
sudden wealth produced by the price of
cotton shortly after the commencement
63
displayed in the forms which the various
speculations assumed was as remarkable
as the folly which frequently characteris-
ed them. Bombay was hooded with
' Financial Associations ' and doubtful
schemes of reclamation. Valuable works
of reclamation of the greatest public utility
in the course of construction and sound
banking institutions were for a time prac-
tically discredited by the gambling that
prevailed in their shares."
Four years after the event, when the
aftermath was realised in all its distress-
ing details, and Bombay had lost all her
mercantile reputation and credit, the
Bank of Bombay Commission, tersely
observed in a tone of the greatest judicial
serenity, unmoved by passion or pre-
judice, as follows, corroborating the
Chamber's opinion:—"The great and
sudden wealth produced by the price of
cotton shortly after the commencement
63