Original News Photo - Print. Pyramid Craze in Springfield,
MO. May 8, 1935.
Text pasted on back of photograph
"INTERNATIONAL CHICAGO, 5-10-35"
"Springfield, MO. - It was a Pot of Gold for some
while it lasted. Scene is in a garage in Springfield, during the height
of a "get rich quick" spree where speculators bought letters for $5.00
each and sold two copies for $5.00 each, keeping one five. This craze
soon failed for lack of buyers but the gains to some of the participants
attracted nation-wide attention while it lasted. Those who made sure money
were the notary publics, who charged from ten cents to fifty cents per
letter to notarize them. Note at right center of table man with money in
hand and notary public with stamp."
Further text is torn away. The scheme also required the buyer to
send $5 to the person at the top of a list of 10 names and update this list
before preparing the two copies (see Springfield type.)
The Paper Chain
Letter Archive Chain