The Financier by Theodore Dreiser
"The Financier," a novel by Theodore Dreiser published in 1912, follows the life of Frank Cowperwood, a young and ambitious man whose singular focus is accumulating wealth. The story begins with Frank's early entrepreneurial success as a teenager, which sets the stage for his rise as a prominent financier in Philadelphia. Despite achieving great financial success through shrewd investments and connections with local politicians, Frank's personal life is fraught with complications, including his affair with Aileen Butler, the daughter of a political associate.
As Frank navigates the competitive and often corrupt world of finance and politics, he becomes embroiled in shady dealings that ultimately lead to his downfall. This culminates in his indictment for embezzlement and grand larceny, resulting in a prison sentence that disrupts both his professional and personal life. Throughout the narrative, themes of ambition, morality, and the consequences of greed are explored, reflecting the complexities of human relationships and societal pressures.
Despite his challenges, Frank's resilience shines through as he attempts to rebuild his business and personal life post-incarceration, hinting at the cyclical nature of wealth and ambition. The novel presents a critical view of the American financial system while delving into the intricacies of human desire and the pursuit of success.
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The Financier by Theodore Dreiser
First published: 1912; revised, 1927
Type of work: Novel
Type of plot: Naturalism
Time of plot: c. 1850-1874
Locale: Philadelphia
Principal characters
Frank A. Cowperwood , a financierLillian Semple Cowperwood , his wifeEdward Butler , a contractor and politicianAileen Butler , his daughterHenry Cowperwood , Frank’s father
The Story:
At a young age, Frank Cowperwood becomes interested in only one thing—making money. When he is still in his teens, he makes his first successful business transaction: Passing by an auction sale, he successfully bids for a lot of Java coffee, which he sells to a grocer at a profit of 100 percent. His family marvels at Frank’s ability, and his wealthy uncle, Seneca Davis, encourages him to go into business as soon as possible. Through several well-paying positions and shrewd speculation, Frank acquires enough money to open his own brokerage house. Within a short time, he is one of the most enterprising and successful young financiers in Philadelphia.
One day he meets Lillian Semple, the wife of a business associate. About a year later, her husband dies, and Frank marries the widow. By that time, he had accumulated a large fortune, and he is familiar with local and state politicians, among them Edward Butler, who rose from garbage collector to a leading position in local politics. Through Butler, Frank meets many other influential people, and his business and popularity increase.
Frank and Lillian have several children, but the youngsters do not particularly interest him, for his sole interest remains his business. When his father, Henry Cowperwood, finally becomes president of the bank in which he is employed, both Cowperwoods build expensive houses and furnish them luxuriously. Frank buys fine paintings and rare objects of art.
His home life is not satisfactory, since Lillian is older and more passive than he is; moreover, her beauty has almost disappeared. By contrast, Edward’s daughter Aileen is young, beautiful, and high-spirited. Frank falls in love with her, and she, in spite of her strong religious training, becomes his mistress. He rents a house where they meet and furnishes it with his paintings and statues.
Because Frank is one of the financial powers in Philadelphia, he plans and schemes continually in order to thwart more powerful monopolists. He manages to acquire large sums from the state treasury through local politicians. The city treasurer, Stener, proves amenable in many ways, and he and Frank become involved in many shady transactions. Frank buys shares in railroads and local streetcar properties. After the great Chicago fire, some of Frank’s investments are in a perilous state. He goes to friends and associates and urges them to stand together in order to avoid losses. So widespread are the effects of the fire, however, that the manipulations of the city politicians are certain to be discovered on the eve of an election. Something has to be done to satisfy indignant reform groups who are sure to demand action when they discover what occurred.
In the meantime, someone sends an anonymous note to Edward, telling him that Frank and Aileen are living together. When Frank goes to Edward and the contractor refuses to help him, Frank knows that he must have discovered his relationship with Aileen. Edward becomes his enemy and urges the other politicians to make Frank the scapegoat for everyone’s dishonest dealings.
As a result, Frank and Stener, the city treasurer, are indicted on charges of embezzlement and grand larceny, and Frank is ruined financially. He pleads not guilty, but the jury convicts both him and Stener. He appeals and posts bail to avoid jail, but the appeal is denied, although the judges are not united in their decision. As soon as the appeal is denied, the sheriff is supposed to take Frank to jail until sentencing, but Frank bribes the sheriff and has a few more days of freedom. His property is sold to pay his debts, and his father resigns his position at the bank.
Frank and Aileen give up the house where they used to meet. Their meetings now take place at a house in another part of town. Determined to put an end to the affair, Butler and Pinkerton detectives enter the house and confront the couple. Edward tries various schemes to make Aileen leave Philadelphia, but he is unsuccessful once Aileen learns that he hired detectives to trail her.
Frank is sentenced to four years and nine months in the penitentiary. Aileen remains faithful to him. When Lillian goes to visit him, Frank asks her for a divorce, but she refuses.
After Edward dies, Frank’s friends manage to get him a parole. At the end of thirteen months in jail, in March, 1873, he is freed. Through Wingate, a friend and business associate, he succeeds in rebuilding his business, and he keeps a bachelor apartment where Aileen visits him. Though he is ostensibly still living with his wife, everyone long ago learned of his relationship with Aileen.
In September, 1873, there is a panic. Frank, who bought stocks cheaply, makes a fortune. Several months later, he goes with Aileen to Chicago, where he plans to reestablish himself. Lillian gets a divorce but remains friendly with the Cowperwood family. She lives luxuriously, since Frank, to buy his own freedom, provides handsomely for her and the children.
Bibliography
Cassuto, Leonard, and Clare Virginia Eby, eds. The Cambridge Companion to Theodore Dreiser. New York: Cambridge University Press, 2004. A collection of twelve essays focusing on the novelist’s examination of American conflicts between materialistic longings and traditional values. Includes essays on Dreiser’s style and on Dreiser and women, as well as Bruce Robbins’s article “Can There Be Loyalty in The Financier? Dreiser and Upward Mobility.”
Dreiser, Theodore. The Financier. New York: New American Library, 1967. After publishing The Financier in 1912, Dreiser in 1927 published a revised, shortened version, to which Larzer Ziff wrote a new afterword.
Gerber, Philip L. Theodore Dreiser Revisited. New York: Twayne, 1992. This revised reference work contains background on Dreiser’s life and novels. Includes a chapter on Dreiser’s “trilogy of desire,” of which The Financier is the first volume.
Gogol, Miriam, ed. Theodore Dreiser: Beyond Naturalism. New York: New York University Press, 1995. Ten essays interpret Dreiser from the perspectives of new historicism, poststructuralism, psychoanalysis, feminism, and other points of view. Gogol’s introduction advances the argument that Dreiser was much more than a naturalist and deserves to be treated as a major author.
Juras, Uwe. Pleasing to the “I”: The Culture of Personality and Its Representations in Theodore Dreiser and F. Scott Fitzgerald. New York: Peter Lang, 2006. Juras examines how the two authors depicted the newly emerging concept of personality, defined as the outward presentation of self, in their work. Includes a discussion of The Financier.
Lingeman, Richard R. An American Journey, 1908-1945. Vol. 2 in Theodore Dreiser. New York: Putnam, 1986-1990. Provides biographical information and analyzes Dreiser’s fiction. Includes bibliographical references and indexes.
Loving, Jerome. The Last Titan: A Life of Theodore Dreiser. Berkeley: University of California Press, 2005. This engrossing survey of the author’s life and work is a welcome addition to Dreiser scholarship. Focuses on Dreiser’s work, including his journalism, discussing the writers who influenced him and his place within American literature.
Michaels, Walter Benn. The Gold Standard and the Logic of Naturalism: American Literature at the Turn of the Century. Berkeley: University of California Press, 1987. In a chapter titled “Dreiser’s Financier: The Man of Business as a Man of Letters,” Michaels argues that instead of attacking the excesses of the marketplace, as most critics have claimed, Dreiser and The Financier participate in and promote consumer capitalism.
Pizer, Donald. The Novels of Theodore Dreiser: A Critical Study. Minneapolis: University of Minnesota Press, 1976. Pizer, a recognized authority on Dreiser and naturalism, offers both a solid reading of The Financier and important background information on the novel.