, 1870-08-14
GAMBLING IN COMMERCE,

The roralsr view Of cases liks Sir Robert
HA,fys docs not, we cunfehe, impress us
sssy much. How, it il ueusl!y asked. could a
IL al hAe him. with his Ensans aud his position,
exc to gamble for euna which, II lie hat1
gsEeI them, would not have sdlelone pcnny-
No.th 10 hi1 enjoyment Of life ? II lie bad
uol, ~ reported, E30, GOO year-stateaeuts
sbnus income being usually exaggerated,
,i.aish statements ahont property are
ot,tn eor1eet1he oerts:niy sl,, had entaslsd
irs ueiness Of t tolcratly profitable kind
u difference in profits between one private
llnk and n,.otllcf must be very great-1nd =
e!tdit in tho Wozld, csnecias!y tho vorl& Of
b&inesr. which, careful1; used, ought to h3ve
eee.tea cue na 3e Is @ared rel iod sna % 20 nsas
III. top Of local society thx his party ceusured
liz sharply for not claiming the seat in Par
l;aalent, Which seemed. in their eyes. 10 be hiB
by Almost natural night, and that il he had
catd for such thiugs, Lis clanco Of 3 peer*t.o
via neither hopeless nor remote. Why
tLccI, caro- to gamble, even for very big
enkcs7 Success could hardly mean more
tim quarter OF million, and what could an
es:ra qu.rscr Of million tr1ns hiza to eom-
peuasts for tueh gigantic zisks, for that dread
witch oEerturr:s tbs strongest mi:ds, fo1 tba.
bag-coh,inued strain which, when victory
concs, 90 often ends IN fatuisy. end, when dis
AFTER ccmcs. in ssu.idc II ia no longer true,
p;rhap*, that ten thousan1 year will give y
piau everything that money can procure for
rnces have risen siHce Nj. Long uttered his
trtuna ; bat tEcntr Thousand yaar viii: and
ST Robert Har.ey msst have had the COM
niand Of that. This, we say, is The line Of
club comment, bat, 1ife club comment in gen.
enl, it il not vcrEfpsofonnd. Rich men play
guinea whist. and like it the better because
they win OF lose guineas they neither want nor
es1n shout, a:d rery rich men often gamble
| verv deeply, md fnd in the excitement OF
tl:at form Of danger, relief from the mon-
| otcny Of othcr~ise too prosperous lives.
+! We can understand N English banker
1l1ying on Change for stakes Of f81. 600,
just rs easily ~ We can understand a
1:ue-i.n I'rinco stalking his last estate. or an
| ludan ctiiccr s.aking. the horses without
| uhich his duty cannot he performed, aud can
realize, With the head At Ill evrnss. the fright
fnl temptation WHEN Ill eecms lost. to re-
cavcr all BY using in speculation on Change
s9ecu!ation in discounts. Bat what We can-
not understand is tho it1ca which man like
| fir Robert Harvey Is scrc to entertain, that
he is not gambling at Ill, hut cc,ba1kiuS ii II
extensive tnt reasonable husiucss oaera.ion,
which must, rlnltse n,i.taanase.4. yield large
pt,,fita. that failure ta almost outside calcnla-
ton, that he ia Ct. to acquire tie most profit
a,i~ "f III enc .ivable businesses, monopoly
il attic.p ever. body waits.
IT IL monopoly OF ono sort or smother
whicl. almost all great epecu'ators Try to es-
t~tli-h, and owing to a lxw which il carlinal
Ut every EnmfnS-tatle, but Which they always
igLore, there il no kind Of operation more
fr1l OF risk. Formerly the idc1 was to mo-
nu14 ltze eooda, to get hold OF all the asailzb1e
anp1 y ef some cna very neceseary article, and
Eola On ill the price roec, and even tins rery
esltom succeeded. Tbs Dutch once .uonopo.
lxed srices, burning halt their crops to keen
Up valucs bn 1t is very doubtful whather, Il
tle:. accounts bad cyer been tested as those
o. the East India Company we're, it would no
lave been found that their "rroits' wer<
leutralized By Lost rentals. There Is sto!
told in the 1esenaaT history Of CON
re-, possession Of all the quicksilver ii
the world, and made endless moneys; ln
We have aluays regarded it ~ more or less
sptsryrhsl, not sceing why II profits OF thA
tiA! are Attaiuallc lc they should ever bs eur
rendered. Vincent Solte tells story of th'
theats~ indeed, comprising Oavrard, th
Hopes, the EAtings, md Char1es II. Of Spaiu
! 11ceeedtd in monopolixing; hat 0uvrar,
broke, and we never could nuke ont thAt hi
: calit sgnes made anything. At all adequate It
| lc never revealed Ill the truth-must hav
: Ec-r very unpleasant, indeed. Tho Asto,np
I tss been made also In indigo, taiow, quiuine
.Dl several other asticaes, in Indi.n salt, il
sa!,petre. aud in articles Of less importance
= 1 IQG AstGWp1h OE{UK HQU4tl40E8 Qu = gG{E LII
scsle, indeed l nt they have almos: invarssbl
4 ililed. Either the trade appealed to chemist
: for substitute, OF then.hg price brought OF
zue1pccted stores OF the article-as hzppene
ence, il We ate not uisinfozned, IN indigo
Ct government i1terfesei. rs occurred Will
: Ouy1a1d, antiin tho Indian salt trade; or th
: ~orld, utterly out Of temper, put in force th
b | great law By which II. Blanc and his con t1t7v
= fro:cct the:z .pcculations-a Law which n
= gambltt evar forgets, but the speculate
; a1ways does. Every gambling s'hsnk IN Ii
wcild xdy etti.es IS is very ftst rule that it vi
= net hold itself ound 70 lose more than ce
tain ,uu, in any one right. Having lost tha
r | il is entitled to stop. md "the bank il broke
/ | Bat for this rule. IN establishment OF til
g kind would be ruined ever! week, for son
J Russian or American With capital equal to !
q | own would GO on doubling bis e'aks until
: nust. in site Of any imaginable "pull
u happen sooner or later. The spocu1atoE. ho'
+ ever, who, were be gambling. would remer
e. bcr this, seldom pelcciEcs wlnle be is "1pers
y iug." that the world, assinet which he is pfs
i ips, iustinctively enforces the sztne rrls.
q vii not 50 on losing for ever, or lose mo
+ Than certain sr1ount: viii. in prcfesea
re.sc PLAYING, that is. cease to consume Il
IN article. II can do without almost au!thi'
'e sxc,pt water, air. and somc SOFT Of food, Al
ID il driven too hard it Will do without. !
j. Lsrcashifr. for example, "a rccen'
!, aAo trade, but was really an ''operation
10 IN effort tc mako profit by incre1.i
70 indefinitely The Manufacture Of cotton 600
ii While keering up the price. Cotton 500
ii xeuld seem to be necessaIies J: bns the Worl
D. arvertbe1ees, being hard pressed, ceased
10 2iar, wonld not continue buEine At that pris
ip would rzther io ehirtlcts, and miilowncrs We
!" half ruined. Il would be 50 with almort AZ
= tLinc, except, perhaps, wheat OF water =
ia yso former is beyond monopoly, any sevs
ha :i.e emryting the reserve Granafies OF I
IN xotlds while the l,tter, which might
be order ccs4sin circumstances The very bcst 81
r. ject for an;soperatou, is defended b. statute
IL Englsh Raitwa! Ccmlsnv w9s recontiT beat
ID il The same w1y. It had monopoly
/" t,.ffic, it 7iaed its rates, aud the world af
It's enduring tue p1under for few dsys ceased
ct rlay, declined to travel, and converte | I
er. hereafter profit into actual loss.
od | OF cours, The operation Of this principl,