The Moneychangers

Upton Sinclair writes an historic novel concerning the Wall Street scare of 1907. He describes how several formidable capitalists organize the fall of a rival trust company. The ruin of this enterprise effects a stock market crash and a bank run; the ultimate cost is the loss of thousands of jobs which throws the world into financial chaos. Allan Montague, a prosperous New York lawyer, relates the story through his introduction to many of the power players who have invested millions in the stock market. By using fronts and shill companies these powerful men allege that their only aim is to sell things--but they do not actually make anything. Because of this ruse, the public and the government put money into the soon-to-be-bankrupt companies created by these confidence men. They aren't really interested in the investments but, rather, they exist to outmaneuver the other player. Sinclair uncovers the evidence of backroom thievery and the direct manipulation of the stock market. He wanted to present this situation fictitiously to the American public and show them that if it actually occurred, the turmoil would be real.


Genre: Literary Fiction