The Financier

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The Financier
Author Theodore Dreiser
Country United States
Language English
Series A Trilogy of Desire
Genre(s) Novel
Publication date 1912
Media type Print (Hardback & Paperback)
ISBN NA
Followed by The Titan

Published in 1912, The Financier, a novel by Theodore Dreiser, is the first volume of the Trilogy of Desire about Frank Cowperwood, which includes The Titan (1914) and The Stoic (1947). Dreiser modeled the main character, Frank Cowperwood, on the tycoon Charles Yerkes. This first novel in the trilogy traces the financial rise, fall, and rise of Cowperwood in Philadelphia. Dreiser blends a financial plot line with a romantic one, tracing Cowperwood's love interests as they intersect with his financial exploits.

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[edit] Summary of The Financier

Frank Cowperwood was born in the middle class family. Since childhood he's been interested in only one thing — making money. When he is still in his teens, he makes his first successful business transaction: Passing by an auction sale, he successfully bids for a lot of Java coffee, which he sells to a grocer at a profit of one hundred percent. His family marvels at Frank’s ability, and his wealthy uncle, Seneca Davis, encourages him to go into business as soon as possible. Cowperwood gets a job in Henry Waterman & Company grain and commission house. Frank turns out to be the most efficient clerk that the house of Waterman & Co. has ever known. However Cowperwood doesn’t intend to spend all his life dealing with grain. Feeling sure that he will never want anything to do with the grain and commission business Cowperwood decides to sever his relations with Henry Waterman & Company and enters the employ of Tighe & Company, bankers and brokers. He works as a stock-broker for some time. Meanwhile Frank meets a certain Mrs. Lilian Semple, who interests him greatly. After her husband dies Frank marries Lilian. Frank doesn’t not want to be a stock gambler. Instead, he intends to be engaged in bill-brokering, a business which he observes t o be very profitable and which involves no risk as long as one has capital. Through several well-paying positions and shrewd speculation, Frank acquires enough money to open his own brokerage house. There are many houses, a constantly widening circle, that find him a very trustworthy agent in disposing of note issues or note payment. He is one of the first to become interested in the development of the street-car and wants to pick up such stock to get control of a line or two. It‘s been five years since Frank married Lilian and she is no longer as softly pleasing, more angular. Cowperwood happens to get acquainted with Aileen Butler, an 18 year-old girl, which takes his fancy. The development of Cowperwood & Co. brings Frank into relationship with one man who is to play an important part in his life. This is George W. Stener, the new city treasurer-elect, who is a puppet in the hands of other men, however he is a person of great importance. In spite of the fact that Cowperwood once decided to have nothing to do with the stock-brokerage proposition, now he starts dealing with it again with more vim, for now he works for himself. Stener and Frank decide to buy and get control of some street-railway property around the town. The only way to get so much money to invest in this business is to borrow it out of the city treasury. Meanwhile Frank Cowperwood and Aileen Butler become closer and begin dating secretly. Two years pass. In 1871 there is a great fire in Chicago, which burns the vast commercial section of the city. It produces a financial panic. The thing that troubles Cowperwood most is the matter of the half-million invested with him by Stener. A fall election is drawing near. Stener is slated for reelection. A scandal in connection with the city treasury would be a very bad thing. Butler and Mollenhauer and Simpson, the most powerful politicians of the city, must combine to support the situation and protect their interests according to Cowperwood’s plan. Frank tells everything about his machination with city treasury to Edward Butler. But the three politicians refuse to sustain the market as each of them wants to get Cowperwood’s street-railway stock. Stener is ordered to suspend payment to Frank who is about to be a bankrupt. Edward Butler, Aileen’s father, receives a letter which says that she runs around with Cowperwood. Lilian gets another copy of the letter. The politicians plan to make a scapegoat of Frank Cowperwood in order to protect Stener and thus the reputation of the Republican party. Butler decides to employ a detective to find out about Cowperwood and Aileen’s relationship. The couple is caught in a nondescript hotel. Soon the rumor machine starts. Frank is declared to be a bankrupt and put on trial. He is sentenced to 4 years and three months, Stener – to 4 years and 9 months by the judge Rafalsky who was under pressure of the Republican party leaders. The prisoners were put to State Penitentiary for the Eastern District. However, even in prison Cowperwood adopts a positive view. Warden Michael Desmas is told to treat Stener with special consideration. Not so much is said about Cowperwood, so Desmas prefers to be slow in extending him any special favors. However, Frank is allowed to have better underwear and sheets for his bed. Soon Cowperwood has to choose a trade to keep his hands busy. He’s got to cane chairs. Bonhag, an overseer, allows Frank to have extra visitors, so Aileen and Mrs. Cowperwood may visit Frank quite often. After some time Frank tells his wife he is going to get a divorce from her. Being in prison Cowperwood continues building up some sort of profitable business through Stephen Wingate, a stock broker. After 13 months since Frank’s incarceration he is released from prison due to a petition that contains all the important names of moneyed people in Philadelphia. On September 1873 the banking house of Jay Cooke & Co., the foremost financial organization of America, suspends payment. It causes a panic in financial world. Series of failures in New York and other cities follow. In two days Frank Cowperwood becomes a millionaire due to his skill in stock exchange speculation. He goes to Chicago accompanied by Aileen where he opens a grain and commission company labeled Frank A. Cowperwood & Co.

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