Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1876-11-22
CALIFORNIA GAMBLING.

WeaIth-Influence of the Mining EIe-
ment on the Business Community.
A San Francisco letter to the New
York Times says:
The wild determination of all Cali
fornia to bray themselves, their country.
and their institutions ahead of all crea-
ton, made so strong an impression
upon my mind that have diligently
been seeking 8 solution for this mys-
terv. It seems to me that this Califor-
nianism springs primarily from the in
huence which the mining element has
upon the social features Of the Pacific
Slope. The men of '49 regard every
thing that can now befound in Califor-
MIA as the work of their own hands.
The most besotted old hummer that
limps paralytically through San Fran
cisco has fixed idea that he helped to
build up the magnificent state whose
future developments promise such
wonderful things. And those who
have maintained themselves above the
surface, and have not been drowned
by rum, arrogate to themselves supe-
rior standing, higher level in society,
upon that very ground. 1t makes no
difference whether they be rich or
poor, all the earlier settlers alike claim
for themselves that they built up the
Pacific Slope. The trouble is that their
claim is allowed. There are curious
wrecks of humanity floating about this
great city, clad Enthusiastically and half
insane, who are certain of half dollars
and quarters from numerous people,
simply because they came here in the
early days and helped to build up the
country. Should an eastern man be
present when one of these for]orn
creatures in his old frowsy uniform
comes upon California street, the Wall
street of San Francisco, and express his
surprise at the general recognition that
is extended to the unfortunate, his CAL
ifornian cicerone will surely say, "Ah,
of course you don't understand this,
nor do we expect you to appreciate our
feelings, but we have the deepest SYM
pathy for those who helped us to build
up the country, no matter how foolish
or vicious they may have become"
The mining element controlled af-
fairs in those early days, and appears
to control things now. Everything
seems to be subordinated to the mining
stocks and to speculation In mining.
Here they are not satisfied with one
board, but must have three. although
the population of San Francisco is bare
ly 10000. There is the Pacific Board,
the California Board, aad the San Fran
cisco Board, each of which has it's
Stock Exchange and is independent of
the others. This is pretty much as if
there should be in New York city an
Atlantic Stock Exchange, and New
York State Stock Exch nge, and New
York City Stock Exchange. But,
though the business transacted in
Gotham represents a population Of
over two millions, one Stock Exchange
has hitherto been found amply suffi-
cient. It is obvious from this one fact
hat gambii ng In mining shares must
be very general pursuit, and indeed
it is. The man who resolutely confines
of his immediate business is look
ed upon by the community with
those mingled feelings Of contempt and
admiration which a Thoroughbred
drunkard feels for a teetotal friend.
He envies his vigorous health, and ad-
mires the calm blood that courses
through the unfevered veins, yet, after
all, he thinks the man is a milk sop, too
cowardly to know the joys of Bacchus.
So here in San Francisco, everybody
makes q nibble at the treacherOus bait.
The merchant down town, whose capt.
tai is just sufficient for his imposing
business, is on the sly bearing Ophir,
while the wife of his bosom has bought
all embarked on small speculative
ships of the same kind, and condemn
themselves to voluntary poverty in
hopes of making great raise and then
going into business for themselves.
Even the very cook in the kitchen is
enabled through the discriminating
business back of some brokers to share
in the delicious dance, for which SO
small a sum as dollar one can venture
in.
The method by which the single dol
lars of the poorest classes of the COM
munity are raked in by the sharks of
Leidersdorf and California streets, is
the familiar put and call of Wall and
Broad in our own delightful city. Here
you can have put or call upon a
single share of Ophir or any other stock
in the market for one dollar. The con-
sequence is that the minds of almost
the entire adult population are riveted
upon mining stocks. Bulletins of the
prices current are circulated every
half hour, exposed in all the brokers'
Offices and in all the money exchanges
and sent to all the leading hotels. The
large broking offices, where business is
done on a grand scale, are furnished
with enormous blackooards on which
the stocks are painted in legible white
character and the fluctuations are
marked in chalk every hour.
In front of these Offices hundreds of
men gather every day, coming as early
as nine o'clock and lingering until the
final quotations are marked, when they
slowly retire. Sometimes when there
is great excitement in mining shares,
there are thousands of such loiterers,
the sidewalks are choked, and to pass
on one must walk in the street itself to
pass the busting vehicles. They are
essentially queer crowd, composed of
Spectators and loafers. Not that
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