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The Great Stock Exchange Hoax of 1814
The Napoleonic wars were a long and trying experience for the British. Therefore, when on February 21, 1814 a man wearing the uniform of a British military officer showed up at an inn on the coast of the English Channel announcing that the war was over, that a party of Cossacks had killed Napoleon, and that the Bourbon government was restored, everyone who heard the news was ecstatic.
Swift horses were dispatched to speed the news to London. In the capital people rejoiced, and jubilant investors bid up the stocks on the London exchange. Then the bad news arrived. Napoleon was still alive. The report of his death had just been a hoax.
In the investigation that followed, a scheme to manipulate prices on the London stock exchange was uncovered. Some circumstantial evidence indicated that a popular military and political hero called Lord Thomas Cochrane had masterminded the plan. He was arrested, tried, and imprisoned.
But as time passed many began to question whether Cochrane was really guilty, or whether he had been framed by his political enemies. After all, there was no evidence that Cochrane had profited from the stock market's rise. Cochrane escaped from prison and was thrown back inside again before finally being released due to the popular support that he enjoyed. In 1831 the King pardoned him of any involvement in the stock market hoax. Historians now agree that Cochrane was probably not behind the scheme to defraud investors, but the real perpetrator of the hoax remains unknown.
Links and References
- Nick Yapp. Great Hoaxes of the World (and the hoaxers behind them). Robson Books. 1995. 42-43.
- The Historical Maritime Society. Nelson and His Navy - Cochrane. (A brief online bio of Cochrane.)
- Robert Harvey. Cochrane: The Life and Exploits of a Fighting Captain. Carroll & Graf. 2001. (A recent bio of Cochrane, who was the inspiration for the novels of Patrick O'Brian.)
- Brian Vale, Audacious Admiral Cochrane: The True Life of a Naval Legend . Conway Maritime Press. 2005.
To whoever wrote this article 'Roth Worth' is the Messenger who gave the information to 'Nathan Mayer Rothschild' who manipulated the market making him and his family the most wealthy in Europe if not the whole world. And its ramifications are stil felt today. Roth did not say what is claimed in this article he actually waited until the battle was decided and then he went to tell the news to Rothschild That the Duke of Wellington won and Napoleon lost. This was most beneficial to Nathan. He started selling everything in the market place creating a panic witch would mean one thing. The Duke had lost and Napoleon had one. Everybody sold their Consols while Natha was secretly buying them back for pennies on the pound. And a few hours Nathan had England monetary system in his hands. Information of this is part of the origin of the financial turmoil that we are in and the coming crisis that is to come. This can be found by google search or youtube search 'The Money Masters' a documentary by Bill StillPosted by Eli in Puerto Rico on Thu Dec 20, 2012 at 04:10 AM
Eli - Are you sure that you aren't thinking of the aftermath of the real battle of Waterloo (18 June 1815)? Wellington and Napoleon never actually met in battle before that historic and bloody day, Napoleon being defeated in 1814 by the other allies in the Sixth Coalition and not the English, before he was ousted by his own men and forced into surrender. The Great Stock Fraud of 1814 was a complete hoax designed to drive up the prices of previously held stock. However, in the days leading up to the battle of Waterloo, rumors and supposed first-hand accounts circulated of routs and defeats suffered by the English troops, sending the entire stock-market into a downward spiral as investors sold off their securities. Following the crisis with the announcement of a win by Wellington and a crushing defeat for Napoleon, the stock market soared, and several men who had bought during the crash made their fortunes.Posted by Lacey in Seattle,WA on Wed Mar 19, 2014 at 04:51 PM
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