The Sun.
London, England, 1848-11-04 00:00:00

TO THE EDITOR OF 7'HE SUN.

SlR,—The public are beginning to have their eyes
open to the gambling tricks of the Stock Exchange
gentlemen. Three hundred millionsterling, in the
shape of Railway Investments, and eight hundred mil
lions sterling in the Funds, comes within their ava-
ricious controul, and it must now be acknowledged,
that had it not been for the " bulling" and " bearing"
practices of the jobbers, and sundry other man ceuvres
too numerous to mention, not one-half the misery and
ruin would have happened, and the present disgust
for railway property
ehavellsquently never have existed;
all railways might
been completed, without dis-
tressing the holders, inasmuch as the generality of
them are sound and desirable investments. These
gentlemen have suited everything to their own pur-
pose, without holding
uesingle share—by spreading
false reports in the public one single
papers they induce the
timid to sell or buy—they
" bull," they "bear," quote
down stock or quote it
upP
without any transactions
being done—they get the first information of calls and
prepare the market laccordingly—they allow them-
selves 14 days to deliver stock after the settling day,
the
and merely borrowsame when they are called
upon to deliver—thenth
until they catch the ey quote down the prices
unhappy victims, who are forced
from circumstances to sell, thereby in their avarice
realising enormous fortunes ortunes without any risk or hold-
ing whatever. lh
reformation in thiswhale kingdom cries aloud for a
importantver branch of money, share,
and stock-jobbing. Ey inan
whether a holder of
railway stock, a merchant, or at;ader, is more or less
affected. Tbey have broughth ruin on thousands of
individuals, by decoying em to take up railway
shares, while the " bulling" mania was creating a ficti-
tious price and a national appetite for gambling. The
victims signed the deeds, and bound themselves hand
and foot to pay calls, and
at length, in their own due
time, these discreet and honest jobbers and Jews
begin to " bear " the market, and down goes the
stock—every call the poor affrighted sufferer pays, his
property lessens in value, he is entangled in the web
of ruin, until himself and family are blotted out from
a respectable position in society. I would venture to
suggest a remedy—let the Government at once sweep
out all these money changers and Jews, and appoint
six paid men of integrity, to carry on the purchases
and sales of the kingdom, so that no jobbing margins
be pocketed; let them be put on their oath, the name
of the purchaser and seller be exchanged the day the
transaction takes place, and let all stock be delivered
within six days from the day of purchase, without
having any settling day at all. The importance of
the last suggestion is sufficiently evident—let a small
duty be paid for every transaction which shall be
done, within or without the exchange, and I would
furthermore suggest money, stock,
(as this branch of
and share dealing is so important) the propriety of
enrolling and licensing all brokers throughout the
country ; let them pay a sum not exceeding ten
guineas yearly, protect the brokers, give them
rules and regulations, and a respectable profession
will, be at once established. I repeat, again, do all
these things, and the calls will be regularly paid, and
railways will be easily made, and the present prices
of shares and stocks assume a proper value. Trade
will be restored and the country again flourish ; for it
cannot be expected but that the frighful, although
artificial depreciation of so vast an amount of property
must fall heavily not, only on those who possess that
stock, but also on those with whom they are in the
habit of dealing in trade and commerce. Do alt this
and confidence will be restored. It is obvious the
price of stocks and railway shares of this enlightened
kingdom, cannot be much longer under the control,
caprice, and gambling practices of the jobbers and
Jews, whose sole aim is to fleece the unwary and un-
ou y called
for. Will the great
railway interests of thisl n count
fortunate. Legislative interference is l
d
stand these robberies much longer? Will they suffer'
their property to be so roughly handled ? Certainly
not, while honest indignation can find a voice.
I am, Sir, your obedient servant,
SEMPER FIDELIS.
Exeter, June 27, 1848.

A young man, in passing through one of the roads
at the west end of Ashburton, last week, perceived a
couple of hawks in the hedgerow in full combat. He
.
immediately took off coat and put it on them, and
secured both without injury. Their talons were so firmlN
e
fixed in each other that eventually one must have lall n
a victim to his antagonist.—Lzeter Gazette.