The Grand Promotion Army

Abstract

John Thomas North’s sudden, spectacular, and widely reported rise to prosperity spawned defenders and detractors. The Financial News was one of his constant critics, as shown in this sarcastic comment “The latest good story about our friend Colonel North.” Founded in 1884 by Harry Marks, The Financial News described itself as “a trusted guide of the investing public” and set out to expose fraudulent investments. John Thomas North became a favorite target. The mutual enmity reached boiling point early in 1889, just as North was preparing to return to Chile on a visit, and was reported in the press.

He was heard lamenting there were not more elements in nature than air, earth and water, as they were such nice things to finance. In Tarapacá he has made himself master of all the existing elements. With his Nitrate Companies and Nitrate Railways he controls all the saleable earth in the province. With his sea-water condensers, his water barrels and his Pica concession he monopolises the drinking materials. It is generally understood that [recently] he was elaborating a scheme for placing the atmosphere of Tarapacá under the care of a limited liability company, with an airy capital of several millions sterling.

—The Financial News, June 14, 1888