admission of Jews, a resistance which is said to date from the earliest formation of this famous trading institution. And, second, the restrictions which are placed by the constitution of the Stock Exchange itself on all applications for membership.
The Governing Committee of 40 has a Committee on Admissions which comprises 15 members and which considers all applications for membership. As the membership is fixed at 1,100 and as no new seats are ever sold, a new member can gain entrance only through the transfer of an existing seat. But even such a transfer is under the strict control of the Committee of Admissions, to whose scrutiny the name of the applicant must be submitted, and whose two-thirds approval is necessary to his being seated.
But one outstanding characteristic of the Jewish race is its persistence. What it cannot attain this generation, it will attain next. Defeat it today, it does not remain defeated; its conquerors die, but Jewry goes on, never forgiving, never forgetting, never deviating from its ancient aim of world control in one form or another. So, though it would seem impossible that Jewish membership in the Stock Exchange could increase under these conditions, the plain fact is that it has increased. Slowly but surely the Jews are gaining numerical power on the floor of the Exchange. And they are doing it with a subtlety that is amazing.
How do they do it? In the first place, no Jewish member ever transfers his seat to a non-Jew. In times of market dullness, when the prices of seats drop and the demand is not so keen as usual, Jewish bidders offer, invariably, the highest sums to the seller. Then, in the case of the bankruptcy of a non-Jewish member, the receiver is almost compelled by the demand of creditors to accept the highest bid for the transfer of his membership; and, of course, a Jew is always at hand to make the bid as high as necessary. These are the two principal methods by which Jewish membership in the Exchange is being increased.
Another method, however, is more insidious than all the others combined. It is based on the rather common practice of adopting non-Jewish names or professing some phase of the Christian faith. The “changed name,” or, as Jews know it, “the cover