Delaware gazette. [volume] (Delaware, Ohio) 1855-1886, 1869-11-05
THE CLASSICS OF GOLD PUs
GILISMs


LFrom the New York Independentl
Fisticuffs, dog fighting, bull-fght-
/ ing, aud cock fighting have their clas-
sical terms and, not to be Outd0ne
| By these learned professions, gold
/ fighting must have a literature Of les
own. There is the bull, who speou
lates for a rise in the price of gold
He is bUVer stalking all his inter
! ests upon arising market, and Calou-
| lating In due season TO sell out at prof
it. He is 'long," having gold on hand
! or contracted for and deliverable al a
future day. When the price goes up,
/ then the bull is happy and when it
goes down, then the bull is miser-
able. And there, too, is the bear,
who is a seller, and speeuIates for a
fall in prices. He is Short" having
contracted to deliver gold at future
! time which he has not, but which he
hopes to buy in at cheaper price, and
thus make his profit. When the mar
ket goes down, then the bear" is hap
| py F.; and when 1t goes up, then the
''beaF" is in agony. The joys of the
bull are always the sOrrOWs of the
bear" When the one makes money,
the other loses it. What goes out of
the pocket of the one goes into the
pocket Of the other. Sometimes the
"bull corners the bear" by forcing
him to cover his shorts" at an inn
mense sacrifice. When either badly in
jures the other, then you have "a lame
duck - and when either completely
busts the other, then you have a a"dead
duck" Such is the polite literature
of gold fishing.
The transaction between these par.
ties, expressed in the unclassical lam
guaRe Of common life, consists simply
in betting against each other as 10 The
future price Of gold. The one bets
that the price will be higher than at
the present, and the other chat it win
be lower. They go through the form
of buying and selling yet the betting
on prices is the real thing which both
DO. The huctuatiOn Of prices, by
whatever method produced, is the sole
concern of both. They may chat to-
gether, smoke cigars together, aud
lunch at the same table yet they are
financially sworn enemies Their iu-
terests, by the very terms of the state
ment, are neither identical nor COM
patible.
Arrayed against each other, con
Quoting the gOld-fght on a large scale,
6mplOyluB vast buub OF money al0
Withal having a clearing house ma
chinery that makes a little capital do
do an immense work, these belliger.
ents Of New Street have really become
a tremendous force. There is a legh-
mate business that may be done ga the
purchase aud sale Of gold, 90 meet
the wants Of trade and against this,
when honestly conducted, We urge no
objections. But the system of "bull-
ing or bearing gold, buying aud
selling it Son time, after che method
of the Gold Room, organizing oliques
to produce artificial variations Of
price, ''cornering" the market, lock
ing up money, circulating false rumOrs,
piling up de3eptiOns without number,
or resorting to any of the other in
trigues so common In the fight be-
tween the bulls" and the bears -
this We pronounce to be one Of the
very worst forms Of gambling. tide
mOralizes the man, and makes him os-
sentially dishonest and false We
speak plainly on this subject, and we
mean to do so. We do it In the in
5erests of trade and commerce. It iB
high time that such Vaccinations as
eliminated in the New York
Gold Room had become obsolete.