Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1875-04-29

human nature that We need to 49,
against this insidious evil with ma.
p" eternal vigilance" which is the ma; ia'
OF social morality as well as of lbertv ''s
.. Gold and stock gambling. Wen.u.
this branch of dishonest trade with a,i
caution, and even with reluctance E ae
certainly legitimate business nav i
done in buying and selling both cold .n No
stocks; and we are happy to admit tha S
many OF our most reputable business VA a'
are engaged in this line. But we refer ~
those transactions in which these com
modities are bought and sold, not to snn
ply any existing demand for them for AZ,
ual use or present delivery, but bccans.
the seller expects that the market nr;cs
will go down, and the buyer that il viii
rise, in the immediate or near future "'''
Every one knows that when the "Bul,sn
flourish the bears" languish, and rs.
cersa. What is one mans gain is anoths,
mans loss. Consequently, while a few
have made colossal fortunes in the pold
room and on the Stock Exchange, theS.
places are figuratively strewed with III.
debris of ruined fortunes.
The reason for these things Il .,
"open secret" In legitimate trade tbs
rule is that all parties are benefited. bnt
in stock gambling the profit is all on one
side and the loss on the other If It wer.
not so, the business could not he continued.
for the time and energy and noble talents
ofthese jobbers are expended, not in prodnc.
ing any new value, nor in adding ANYTHING
to the sum Of human wealth, but in wan
ton destruction. Not SO much as one HAD.
of grass is caused to grow through their
efforts. Their sole purpose is 70 over.
reach and impoverish one another; andi in
exact proportion 70 what they spend is the
world daily growing poorer. Nor is This
all, nor the worst. Many an honesttrades
man has had his paper driven to protest
and his business utterly ruined through
the indirect consequences of the frantic
efforts made by these gamblers to ruin one
another.
8. Betting-especially on fast horses.
The same arguments that prove the dis.
honesty of gambling at the card table
show that betting on the speed of horses,
steamboats,, or any other things, animate
or inanimate, that may be brought in com.
petition, is dishonest means Of making
and losing money. Yet the English Par
lament adjourns every year to attend the
Derby races; and it will not be many
years before our Congress and State Leg
islatures will do likewise unless some ef.
fectual check can be given 10 this fascinst
ing but demoralizing amusement
We are aware that it is contendcd that
the race course encourages the breeding OF
superior horses, and therefore ought 70 be
tolerated, if not encouraged. But though
there may be trace of truth in the asser.
ton, yet, when this alleged fact is admitted
in excavation, it seems too much like tol-
tni, ,f ~ l.
of the grain of wheat concealed in X.
Race horses are, in point of fact, for any
purpose except racing, among the least
valuable of our domestic animals
We believe that the present time is OPP
perfume for pressing this subject on the at
tention Of the business men Of our coun.
try. We are just awaking from . long.
continued torpor in business affairs. Many
young men who have been waiting for
more favorable times are, or soon will be,
entering upon business career, while
many others, of more or less experience,
are about taking new departure" And
when can we hope to have better time
for revising and reforming our business
habits! We trust that something has been
accomplished already The zone price
system" is certainly more of reality now
than it was few years ago Credits are
much more limited than formerly, and we
may at least hope that the custom Of doing
3 large business on borrowed capital is be-
coming obsolete.
To young men contemplating business
we would most atfectionately say Resolve
at the start to be scrupulously honest, &C
cording to the highest standard known 70
man, the Golden Rule and the moral law.
If you wish to enjoy solid prosperity
throughout your active business life and
to stand on the high places Of the earth in
old age, among the honored fathers ofyour
country, never allow yourselves to prosper
at the expense of other men. Whatever
branch of business you may choose let it
be one in which while you make money
every one with whom you deal may have
fair chance TO do the same.
That our people are now about entering
upon a career of solid prosperity will
scarcely be doubted. VIII our business
men show that practical wisdom which
will exalt us as trading people among Me
nations OF the earth? We shall see.--
PHILADELPHIA Trade Journal