The Financier · Chapter
XIV explained
Cowperwood's growing brokerage business brings him into contact with George W.
What happens
Cowperwood's growing brokerage business brings him into contact with George W. Stener, the newly elected city treasurer, a weak and mediocre man who is a puppet of Philadelphia's political machine. Stener, seeking guidance on selling a city loan, turns to Cowperwood, who sees an opportunity for a significant financial combination. Meanwhile, the political bosses—Mollenhauer, Simpson, and Butler—manipulate the city treasury through dummy companies and expect Stener to cooperate in their schemes to profit from city loans and warrants.
Themes in this chapter
Corruption and Power
The chapter exposes the corrupt political machine in Philadelphia, where leaders like Mollenhauer, Simpson, and Butler manipulate the city treasury and use puppet officials like Stener for personal gain.
Ambition and Success
Cowperwood's ambition drives him to seize the opportunity presented by Stener's need for a broker, aiming to build a significant financial empire through the city loan deal.
Deception and Self-Justification
The political bosses and their agents engage in deceptive practices, such as creating dummy companies and manipulating loan sales, while justifying their actions as necessary for business or political stability.
Characters to notice
- Frank Algernon Cowperwood
Cowperwood expands his brokerage firm, Cowperwood & Co., and begins a pivotal relationship with City Treasurer Stener, seeing a chance to profit from handling city loans.
- George W. Stener
Stener, the new city treasurer, is depicted as a weak, mediocre man manipulated by political bosses. He seeks Cowperwood's help to sell a city loan, relying on him for financial guidance.
- Edward Malia Butler
Butler is one of the Big Three political leaders who control Philadelphia's politics and finances, involved in the scheme to profit from city warrants and loans.
- Henry A. Mollenhauer
Mollenhauer, a cold and powerful political boss, visits Stener to pressure him into using a broker to bring new city loan certificates to par, as he holds many old city warrants.
- Mark Simpson
Simpson, a U.S. Senator, is part of the Big Three political ring that controls Philadelphia, sharing in the plan to bleed the city treasury.
- Edward Strobik
Strobik, president of council and a tool of Mollenhauer, helped get Stener elected and is involved in organizing dummy companies to profit from city contracts.
Key passages
“The development of Cowperwood as Cowperwood & Co. following his arresting bond venture, finally brought him into relationship with one man who was to play an important part in his life, morally, financially, and in other ways. This was George W. Stener, the new city treasurer-elect.”
Cowperwood's growing brokerage firm led him to meet George W. Stener, the newly elected city treasurer, who would become a key figure in his life across moral, financial, and other dimensions.
Introduces the pivotal relationship between Cowperwood and Stener.
“Stener had been engaged in the real estate and insurance business in a small way before he was made city treasurer. He was one of those men, of whom there are so many thousands in every large community, with no breadth of vision, no real subtlety, no craft, no great skill in anything.”
Before becoming city treasurer, Stener ran a small real estate and insurance business. He was a thoroughly average man, lacking vision, subtlety, or any notable skill.
Characterizes Stener as a mediocre and unremarkable individual.
“In scarcely any other city save this, where the inhabitants were of a deadly average in so far as being commonplace was concerned, could such a man as Stener have been elected city treasurer.”
Only in a city as ordinary and unremarkable as Philadelphia could someone like Stener become city treasurer.
Critiques the mediocrity of Philadelphia's political environment.
“An inside ring had this matter in charge. Certain positions were allotted to such and such men or to such and such factions of the party for such and such services rendered—but who does not know politics?”
A secret inner circle controlled political appointments, assigning positions to loyal party members as rewards for their services—a familiar political practice.
Explains the patronage system behind Stener's election.
“He shook hands with Stener, and they parted. Cowperwood was satisfied that he was on the verge of a significant combination, and Stener that he had found someone on whom he could lean.”
After their meeting, Cowperwood felt he was close to a major business deal, while Stener believed he had found a reliable advisor.
Highlights the mutual benefit each man sees in their new partnership.
