Financial Matters In The Story "Money" By Emile Zola
Money by Emile Zola is a gripping story that showcases the financial world of 1860’s France - the deceit and greed that intoxicates the people, all in the name of money. This paper will show insights into the tactics employed to promote the sales of stocks and shares. Money is focused on the rise of the Universal Bank, through the hustling and dealings from Saccard; a failed member of the stock exchange. Through this reading insights about the previously mentioned tactics are plentiful. The lack of regard for the rules of the stock market demonstrates a lawlessness and crookedness of the financiers in this time period. Greed spreads through both the men promoting these stocks, but also its people who are easily corrupted by their readings in the newspapers and the examples set by those of higher status. This also shows the willingness of the people to submit to what is said by others, such as the newspapers as well as Saccard. Patterns to follow throughout this paper are the continuous illegal actions by the members of the Universal Bank board, the lies spread by the papers, and the greed of the people.
To begin the focus will be on the bank and its beginning. At the very first meeting it was agreed that ninety percent of the shares would be taken up by the owners of the bank. This was done so to ensure the success of the opening release of shares, and to allow them to manipulate the prices of shares at will. There was no hesitation here at all. It is not as though Saccard and his friends began to manipulate their share prices out of desperation to maintain their status, it was a fraudulent procedure from the beginning. This demonstrates the complete disregard for code and regulations. Saccard also has no issues delving into the world of insider trading, being willing to provide “advice” to Sabatani in exchange for his agreement to be the front man for the shares owned by the bank.
The bank’s most substantial break comes during a time of political uncertainty. With war on the horizon share prices are coming down. However Saccard receives information from Huret; who is well placed with a political official, that an armistice is coming. This allows Saccard and his associates to influence the market accordingly and make a substantial amount of money, while also increasing the share prices of the Universal bank. This plot line allows for an insight to the importance of war on the economy. In this time frame with France being so involved in conflict throughout Europe, it had a massive influence on how business was done. This is something that is not as important in modern times, as the threat of war isn’t as credible as it once was. Greed overcomes Saccard as the book progresses. He employs front men to buy up Universal Stock to maintain its share price and fight off those selling shares, as to lower its price.
At this point Saccard has achieved great success with his bank, the shares are at a good price and he stands to make a lot of money. But it is never enough, he is addicted to the rise, and the greed of having more money is too alluring for him to stop. This greed and addiction also spreads to the simple people that own shares. This happens through the newspapers, “with articles singing [Saccard’s] praises, notes calling attention to [him] in other words, a thorough campaign about everything and nothing, ceaselessly glorifying [him]”. And the people eat these campaigns up. The daughter of a shareholder is so intoxicated by the hope and promise shown by the newspapers that she reads them everyday and dreams about the promises at night.
These circumstances allow an insight into the lives of the people. They aren’t very educated in financial matters, and see Saccard making his money they are very willing to submit to his ideas and follow his lead. The tactics used by Saccard are accepted easily through the manipulation of the papers. An additional insight this allows for is the willingness to submit to monarchy throughout europe. The ordinary citizens simply do not know any better, and will listen to those with more money and power than them. An additional example of this is when the Maugendere’s are appalled at the idea of selling their shares. They stood to make 98,000 francs by selling, but since a well regarded financial paper insisted that the share price would rise further they refused to sell, and were even willing to sell their house to buy more shares. Zola’s Money encapsulates the greed and addiction that money brings to people. There are moraless tactics used by the syndicate behind the Universal bank. The lies spread throughout numerous newspapers, used to fool the general public and entice them into dreams that were fiction were heartless and soulless. Countless lives destroyed because of their lack of morality.
The lives of people who in their modest means were sold on promising futures, just to fill the coffers of the scandalous few who were already well off. The insights gained from this novel offer an intriguing view into life in nineteenth century France. The lack of regulation for the financial institutes is appalling. This and the lack of respect for the law are eye opening, and paint this time period as one that is quite lawless. In addition the insights into the lives of the common folk provide potential explanations for the belief in monarchies and the rich throughout Europe in this time. The greed spread by money and the intoxication of it are spread to all humans, rich and poor. As shown in the book this also offers an explanation as to the success of capitalism, as people are never satisfied with their means and will work, gamble, steal and do anything for more money.
