Original News Photo - Print.  Pot O' Gold, Springfield, Missouri.  May 10, 1935.

Text pasted on back:

"Watch Your Credit.    International  Chicago     5-10-35    Pot O' Gold"

"Springfield, Mo.  -- Boom Days of '49 had nothing on activities which the latest chain letter craze loosed in Springfield when the town attracted nation-wide attention by activity of citizens embroiled in a mad scramble for quick, easy, money in a $5.00 per unit system on the chain letter idea. Here speculators bought letters for $5.00 each and sold two copies for $5.00 each, keeping one five. The scheme, which went big for a time, failed for lack of buyers. Picture is of the front window of one of the operating quarters, showing the hastily painted sign which attracted waiting lines of 'customers'. "   [remaining text torn off]

In this "pyramid scheme", whose key innovation is that one has to buy a letter for $5, the buyer must also send $5 to the name at the top of the list. When the two letters with a revised list are sold for $5 each, the buyer has recouped his initial investment. See Springfield pyramid scheme in the glossary. This procedure has become almost universal for pyramid schemes, at various antes.  It apparently originated in Springfield, Missouri in May, 1935.

Black coloration has been applied to the photo within some of the letters and partially outlining the two people on the left.

This html file name:     me1935-05-10_PotOGold_image-info        in the /chain-letter/photo-archive/ directory

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