The Jeffersonian. [volume] (Stroudsburg, Pa.) 1853-1911, 1853-12-22
SnecuIatiOnS,

regard to the established laws of trade Is
matter that can be compared to moth
ing so well, as to the dealing in lottery
tickets, or some other species of gambling
where no sagacity is required. There
may be one chance in one thousand, or
one in ten thousand, for success, but the
odds stands too fearfully against one to
encourage the practice. The qualhca-
tions here made will be easily perceived.
There are apparent speculations which
are based upon the closest calculations OF
demand and supply Let a merchant as
certain Just how much of any given artl-
Gle there is in the market, and also just
how large the demand will be, and he
may safely purchase the whole with
certainty of realizing a profit. If one OF
the earliest adventures to California could
have foreseen the population of San Fran
cisco, and thereupon purchased the whole
tract of land upon which the city now
stands, his profits would have been be-
yond calculation. Such as these must
be considered truly legitimate operations.
But the folly of rushing blindly into risks
which may be managed by skilful impor-
ters, is too absured for anything more
than a passing allusion. Such was the
tulip mania in Holland. While this
ragged men were known to give their whole
possessions, amounting to thousands of
forms, for single favorite bulb. The
Mississippi scheme was another, in which
reckless gambler succeeded in fascina-
ting a whole nation. The South Sea
bubble is not forgotten. The hundreds
of companies incorporated for all sorts OF
imaginable purposes have all been de-
scribed in full, but the ruin and misery
by the final explosions have been terrific
beyond description. Yet men will sell
dom learn wisdom from their own person
al experience. The same reckless scenes
are enacted every year. The land spec
ulations in the State of Maine nearly beg
gard the State. Men left their ware
houses, counting rooms, and stores, and
rushed off to townships, village-lots, and
mill privileges. So crowded were the
mushroom cities, that barns, sheds, and
the privileges to lean against the gate
posts, were in requisition for lodging
places. This affair did not end in mere
bubble, it ended in the ruin of more
than ninc-tenths of all who caught the
contagion. For many years after, the
question was invariably asked by the
prudent Boston merchants of applicants
for credit: "IIave you had anything to
do with the eastern land speculations!'
Some fifteen years ago, more or less,
there was an effort made to build city
at the junction of the Ohio and Missls-
sippi rivers, which was to be called Cal
70. Streets were graded, houses and
store lots we're laid out for miles up the
banks of both rivers. Elegant colored
maps were exhibited in the eastern cities,
most minutely particular in design
There was to be bank here, a custom
house there, church in another place,
and fine brick and stone dwellings In ev-
cry direction. A hundred steamers were
lying at the wharves "painted like life"
and merchandise was piled about in per-
feet looseness of profusion. Drays were
industriously engaged in removing the
merchandise back into the populated
streets. Men, women, and children, were
thronging the squares and side walks!-
Indeed, from the pictured description, one
would suppose that both Cincinnati and
New Orleans were to be removed and
combined to make Cairo. Stch was what
Cairo was to be, according to the repre-
sentations Of the spectators. All the
world were in some way to pay tribute to
Cairo. No wonder that many shrewed
men who had never seen the location
were taken by the purchase of shares and
lots. On the map and on the plan, a
more desirable location for great city
could not be found. However, after all
the rage for speculation, the city of Cal :
ro ramains to be built. A dilapidated
old wharf-boat, a long wooden portieo
with shanty behind it; called the Uni
ted States Hotel, flock of geese, a lean
pig, and jack-ass-these make up what
Cairo now is in reality. The location OF
Cairo is everything that could be desired
for city; but, unfortunately, there is one
disadvantage not mentioned, the water
overfows the place for fifteen miles back
every spring freshet. Large operations
were really commenced one dry season,
but the first freshet carried all the build
ings down stream, except the aforemen-
toned portico wharf boat.-H3@t's Meg
aoiae.
How do you like your miuisterP
Like him., says the squire, why, |