When I was first guided into the exchange to have my desk pointed out by one of the assistant teachers, I was overwhelmed by the clamour and confusion.  Certain blackboards at the other end of the building were covered with figures continually replaced.  As each new set appeared, the pupils swayed to and fro, and roared out aloud with a formidable and to me quite meaningless vociferation; leaping at the same time upon the desks and benches, signalling with arms and heads, and scribbling briskly in note-books.  I thought I had never beheld a scene more disagreeable; and when I considered that the whole traffic was illusory, and all the money then upon the market would scarce have sufficed to buy a pair of skates, I was at first astonished, although not for long.  Indeed, I had no sooner called to mind how grown-up men and women of considerable estate will lose their temper about half-penny points, than (making an immediate allowance for my fellow-students) I transferred the whole of my astonishment to the assistant teacher, who—­poor gentleman—­had quite forgot to show me to my desk, and stood in the midst of this hurly-burly, absorbed and seemingly transported.

“Look, look,” he shouted in my ear; “a falling market!  The bears have had it all their own way since yesterday.”

“It can’t matter,” I replied, making him hear with difficulty, for I was unused to speak in such a babel, “since it is all fun.”

“True,” said he; “and you must always bear in mind that the real profit is in the book-keeping.  I trust, Dodd, to be able to congratulate you upon your books.  You are to start in with ten thousand dollars of college paper, a very liberal figure, which should see you through the whole curriculum, if you keep to a safe, conservative business....  Why, what’s that?” he broke off, once more attracted by the changing figures on the board.  “Seven, four, three!  Dodd, you are in luck:  this is the most spirited rally we have had this term.  And to think that the same scene is now transpiring in New York, Chicago, St. Louis, and rival business centres!  For two cents, I would try a flutter with the boys myself,” he cried, rubbing his hands; “only it’s against the regulations.”

“What would you do, sir?” I asked.

“Do?” he cried, with glittering eyes.  “Buy for all I was worth!”

“Would that be a safe, conservative business?” I inquired, as innocent as a lamb.

He looked daggers at me.  “See that sandy-haired man in glasses?” he asked, as if to change the subject.  “That’s Billson, our most prominent undergraduate.  We build confidently on Billson’s future.  You could not do better, Dodd, than follow Billson.”

Presently after, in the midst of a still growing tumult, the figures coming and going more busily than ever on the board, and the hall resounding like Pandemonium with the howls of operators, the assistant teacher left me to my own resources at my desk.  The next boy was posting up his ledger, figuring his morning’s loss, as I discovered later on; and from this ungenial task he was readily diverted by the sight of a new face.