Summary

Portrait of P. T. Barnum P. T. Barnum The Humbugs of the World — Chapter XXIV (1866)

The Petroleum Humbug.—The New York and Rangoon Petroleum Company.
Every sham, as has often been said, proves some reality. Petroleum exists, no doubt, and is an important addition to our national wealth. But the Petroleum humbug or mania or superstition, or whatever you choose to call it, is a humbug, just as truly, and a big one, whether we use the word in its milder or its bitterer sense.
There are more than six hundred petroleum companies. The capital they call for, is certainly not less than five hundred million dollars.
Source: Wikisource

Portrait of P. T. Barnum P. T. Barnum The Humbugs of the World — Chapter XXIV (1866)

Rolleum went to the Honorable A. Bee, a gentleman of a good deal of ability, pretty widely known, not very rich, believed (perhaps for that reason) to be honest, no longer young, and of a reverend yet agreeable presence. Him the plausible Rolleum told all about the new Company; what a respectable board of trustees there was going to be—and he showed the names; all either experienced and substantial men of the oil country, or reputable business men of New York City.
Source: Wikisource

Portrait of P. T. Barnum P. T. Barnum The Humbugs of the World — Chapter XXIV (1866)

So truthful is our Great American Nation—so confiding, so sure of the truth of what is said in print, even if only in the advertising columns of a newspaper—so certain of the good faith of people who have their names printed in large capitals and with a handle at one end—that actually these fellows had a hundred thousand dollars in bank within ten weeks—before they owned one foot of land, or one inch of well, or one drop of oil, except those three pints in the vials on the office shelf!
Source: Wikisource

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