The home journal. (Winchester, Tenn.) 1858-188?, 1875-06-17

ten tickets, after a small percentage has
been deducted M the profits OF the pool
seller.
HISTORY AND POPULARITY OF n SYSTEM
A comparatively short time only har
elapsed since this system OF mutual
pools was devised and the machine IN
vented by an ingenious Frenchman by
which n record ia marked OF each IN
vestment made. The merits and easy
applicability OF the system wele at once
perceived in Paris by an emin'n'
American gentleman who was solourn'
inc in the French capitol, and h
brought n number OF tho machinef.
hero. The system was at once received
with favor by the public, and Justly 80,
for IL is the only way in which the man
who orly seeks moderate risk nj lay
ont his money, while the full publicity
of nil the transactions and the checks
which are employed to perfect the sys,
TEN render the preparation OF any fraud
nearly impossible. There II no fraud
There can be none without an amount
Of craft aud combination which is prac'
tically impossible, in tho face OF the
hundreds OF men who surround tue
stand upon which are placed the ma
chimes, the %playcards, and tie opera
tors. The public know this, and the
cutlery, raised mainly by IN n who have
tried 10 get control OF the system them
selves and failed, is Of no effect. Those
parties may believe that fraud in the
management Of tae Mutuals is prac
ticable, but it is a very general opinion
that the chief reason OF opposition II
that they desire to control and mo,
nopolize the business for persona
profit. No man OF common sense,
although dishonest at heart, would at
tempt fraud in the mGtter where th'
risk Of detection is 80 great and inc
legitimate emoluments OF conducting
the system with probity 80 large. i
will be the chief means o bet'ing from
tn 4 time forth, save the regular trans
acti ms Of the bOok.makers and tn
heavy pools sold by auction, in whicl
only large inveftments are generally
practicable. 1t may be that n lie
percentage o. the money invested vii
be considered sufficient TO remunera''
the managers Of the Mutuals, although l
is not generally known what Their ex
enses are for machines, printing, AND
salaries Of operators and accountants
Neither is il known TO what losses they
may be subjected through counter
felt money or defalcationa. That their
expenses are large is manifest, notwith
standing there are people who argue
that the system works automatically
and that after the frs outlay for ma
chimes the percentage is all profit. Foi
Jerome Park, Long Branch, and Sara
toga the bills of the managers OF the
Mutuals are very large in necessary OK
penseB aside from the salaries OF the
scores of men they munt employ in or
der TO do the business with dispatcl
and reliability.
THE BETTING THIs SEASON.
This has been IN exceptionally lively
year for betting. IL il said that more
than three quarters of a million dollars
have been placed upon the jerome l'arl
races alone, while the sun total OF bet
on the southern and western races ant
the events of the Long Branch summe
meetings excceds two millions of dol
lars. The races in the west and soutl
which opened the season this year n
usual, aroused an interest aud enthusl
asm totally unexpected in view of tn
general stripRency Of the money market
There we're five horses matched, an
, there was an indication Of almost
nntionai interest that these events Great
in European countries. The bookseller
state that the amount likely TO be riskc
within the coming month on the Lon
Branch races, and later on the Daily
mount rifle contest, and the yacht races
will be more than double the sur
wagered during any previous year.