The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1872-12-14
STOCK AND GOLD GAnsLlsG.


STOCK AND GOLD GAMBLING.
The present systsa - 6tssk end Gold
gsmhling, which il onsof ths oaterowths
ofths war, has without doubt been
serious drawback to Industrial aud COM
msScial enterprise, since, q has been
deQonstEatsd over and aovsrs seAin, the
wealthy yicliqass ists vhisA thsssssadisg
speculators are divided. have = ii their
power to s4corner" the market for cur
rency aud gold, and thus to throw the
entire financial nachinery ont Of gear.
An episode Of this kind - occurred
within the past week, whsu, aooording
to oil accounts, fabulous smounts were
lost and won BY the ttcorner" Of : angle
Stock, which, partly through the crsa-
tion Of an Artificial money pressure, was
rus up from 05 to 230. Meanwhile, the
wheels ofcommerss, for the momsut,b b.
came blocked, through ths inability Of
business men t0 obtain accommodation
at the banks and discount houses, and
thus all legitimate interests were made
70 suffer, in order to crafty the cupidity
sfa few inscriptions men. Il has been
charged that portion Of the hanks are
in the habit Of lending themselves 70
thsss disreputabls schemes, and, ii that
b true, some measures ought TO b
adopted to compel them to attend 10 the
legitimate business for which they were
organized. saYsaa
Stock aud Gold gambling has 90 many
attractions, especially amorg that large
class who arc bent upon amassing sudden
fortunes without labor, that the ranks
Of th,se non-productivs spectators ap-
pear to be steadily enlarging /; and, hav-
ing fastened themselves like lssches up
on The body ofsociety, they are sucking
the life blood from the Industrial and
commercial interests Of the country.
| It is quite useless to invsigh against
the settled determination on the part Of
50 many people to obtain wealth without
labor; it is innate, aud very NV ore
disabused Of the belief in its possibility
until bitter experience, in tho shape ol
ssverses, if not total ruin, has indsllibly
impressed its futility upon their minds
And for every one Who becomes used up
financially, it would seem that two frssf
candidates for fortune make their appear
anoe in the speculative arena. It would
b idle to deny that large sums are oc
casionally made by the riss or fall il
Stocks, but the instances are very rar,
Of those who retain the profits thus &C
duired. No word Of caution or advic .
however, will prevent good. many
honsst and well-msaning people from
stepping aside from their legitimate psr
suits. ito take . flyer 10 StocksH Ifth,
new aedged spsculator 10 cautioned
against the dangers Of dsbbling il
Stocks, and examples offortunes lost ar,
held up to him, he is very apt 70 turn ,
'dsaf ear, and to look upon his adviser .
Fwell-mesDing, bat slow, q behind th
g times. Az rule, large gains iMply th
risk Of proportiouats losses; and the lot
tsry Of speculation, and especially spscu
! lation in Stocks or aold, i q IL thing
The most uncertaia. d The slsading cpscu
! lators have succeeded in arrogaiing
themselves 20 much wealth and in
fuence that they csrnot easily b did
lodged from their position, bat the ev
may be abated in time hy creating
. moro healthy state Of public ssntimsn,
and by doing away with some q the in
inducements for spsoalstion-amon
them an irredeemahls cuffsncy.
i