New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-09-21

| There is nothing like New York stoc.
dealing except, perhaps, Louisiana poi
tics, as portrayed BY blanchard and hi
marshals." In New York large body Q
sharp and interruptions men devote them
selves entirely to gambling in stocks. H
who can put up a margin only gamble
against the millionaire, and cases are fire
| quently given in which one who has moth
| ing enters these gambling dens on Wal
street and beats the heaviest operators GU
of a fortune. The character of many o
these men is as base as that of trickstel
who will stuff or swap ballot box, or hire
another to commit the same felony fo1
him. New York can afford to keep large
body Of able-bodied men who do little
except lie for living. Few communi.
ties can bear such perversion of enter
prise and such systematic disturbance
of all funded values. New Orleans, in
humble imitation, has her Carondelet
street sharps. Their Offices are on the
banquette. In the winter they buzz like
bees over the chances of great bill In
the summer they shade around like sheep
and canvass the chances for lake dinner
on back warrants. But we are ashamed
Of the ignorance and insignifcance
of our sharps. They resemble their
great examples, Fisk and Jay Gould, in
nothing save in burning ambition to
get other peoples money without hitting
a lick of manual work for it. What are
our inanciers in the skin to the
princes Of darkness in Wall street? Jay
Gould is charged with having enticed
Daniel Drew into speculations in North
western stocks, as a partner, while Sc.
cretly he sold out the very stocks the con-
Germ was bulling for rise. 1t was as if
one dealer Of faro makes a bank in part
nership with another, and then throws
the concern of, ruins his con-
fding partner but enriches himself. This
no gambler would do, because there q
code Of moral obligation among them
which stock dealers do not recognise.
The successful deception of Drew was,
therefore, applauded with both hands by
all Wall street. Jay Gould was congratu-
lated for his "smartness," while the yen-
cradle Daniel, albeit pretended member
of church, was not at all outraged by
the treachery. He was deeply mortified
at the waning of his faculty for fraud.
He cudgeled his wits, not merely for their
inertness, but to compel their desperate
efforts TO reinstate the value of his fortune
and the Wall street respect for his acute.
ness. No doubt he has cheated himself, !
even by this, not impossibly through
the agency of Jay Gould himself.
That such ruinous disturbances of fnan.
cial credit have been occasioned by New
York gamblers alone is shown by the pecu. I
mary calm Of st. Louis. Cincinnati and
Chicago. as well as by the tranquility Of
The money markets Of Europe. The con.
sequence of these yuinous fluctuations
sffect the Southern and Western States,
low seeking the construction Of ways TO
market and the aid Of additional capital.
partisan journal seems 70 rejoice in the
allure OF Governor Kellogg to negotiate
further loan for the extension Of our
'roken down railroad to Texas. We ray
cry deliberately that there are a few des.
'erate office-seekers among us who would
refer the extinction" of more than half
ur people. or the ennihilation Of public
redit in the hands Of Republican ad.
to the stable government Of
by Republican rulers. This
q infer from the bitterness with which |
1ch men assail our leading interests and | {
enounce all who will not follow them.
othing which we can write could affect
le pursuit Of New York stock gamb. I
rs; nor do We expect to lecture our 6
Tn politicians into state of higher NOR ,
ity. When, however, the business. men I i
New York see these repeated results of {
REGULATION and fraud-wben the people {
Louisiana look carefully through the
upendous election tricks by which las. {.
ar their votes were handled, like Erie or ] I,
lcifc mail, each will gradually come TO ! -
the conviction that stock or political ! :;
milling will ruin the financial credit
the one. as they have destroyed all
Gticai confidence in the other. 81
We hope for reform in each. Europe "
S passed through the same phase. The :,
eat Mississippi swindle. the explosion :,
the railroad king and ring, burnt the a.
glish people. France suffered from -"
, financial devices of Law and the losses ~
assignats. y
The stock storm in New York and the II"
itical exposures in Louisiana will be p
arded as eras in the history of each IL
tie. teaching the superior wealth and &C
dom Of integrity. May both profit by u
lesson. --. SD
al
RM0NX OF HEALTH AND COMErPnr | ne