Dreiser’s The Financier

“The Financier,” published in 1912, is the first book in Theodore Dreiser’s “Trilogy of Desire,” depicting the life of Frank Cowperwood, a character inspired by real-life tycoon Charles Yerkes. Set during the Gilded Age, it examines the intersection of finance, politics, and personal ambition, offering a critique of capitalism’s ethical challenges.

H.L. Mencken, a prominent critic, advised Dreiser to cut over 70 pages from the 1912 manuscript, suggesting he saw the original as too lengthy. Specific reviews of “The Financier” are scarce. Mencken noted Dreiser’s religious journey, from renouncing ancestral religion to embracing Communism, reflecting a broader bewilderment by the cosmos. This view, while not directly on The Financier, provides context for Dreiser’s reception, with Mencken also remarking Dreiser was a “great artist, but not a great writer,” acknowledging his vivid characters and settings but critiquing his prose.

Theodore Dreiser (1871–1945), a major American novelist known for realism, published The Financier in 1912 as the first of his Trilogy of Desire. The novel, inspired by Charles Yerkes, follows Frank Cowperwood’s journey from a teenage entrepreneur to a prominent financier in Philadelphia, navigating financial panics, legal troubles, and personal scandals. It explores themes of ambition, morality, and the corrupting influence of power, reflecting the Gilded Age’s economic and social dynamics.

Cowperwood’s story begins with his early success, buying and reselling soap for profit, setting the stage for his later financial maneuvers. He rises through brokerage, manipulating stocks and exploiting political connections, but faces indictment for embezzlement, serving a reduced sentence. His personal life, including an affair with Aileen Butler, complicates his social standing, leading to his eventual move to Chicago. The novel portrays Cowperwood as driven by a desire for wealth and power, encapsulated in his view that “the true meaning of money yet remains to be popularly explained and comprehended.”Supporting characters, such as his father Henry (a cautious bank clerk) and Edward Malia Butler (a corrupt politician), add depth. Aileen’s defiance in staying with Cowperwood despite family opposition highlights personal dynamics’ impact on professional life.

Cowperwood’s morality is described as Machiavellian, prioritizing power over ethics, influenced by a childhood observation of a lobster preying on a squid. His relationships, especially with Butler and Aileen, illustrate personal and professional intertwining, with Aileen’s intelligence and vibrancy adding depth to the narrative.

Key Themes and Comparisons

Theme	Cowperwood (The Financier)	Steve Rattner (Modern Parallel)
Ethical Practices	Exploited corrupt systems, faced legal trouble	Involved in “Pay-to-Play” scandals, fined
Financial Expertise	Mastered streetcar industry	Excelled in media investments
Relationships	Leveraged connections like Butler for success	Used political ties for business advancement

The Financier remains a profound exploration of ambition and morality. Modern parallels can be found in today’s headlines. Mencken’s editorial influence and general views on Dreiser enrich our understanding, affirming the novel’s enduring significance in American literature.