Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1876-11-29
BETTING ON ELECTIONS.

BETTING ON ELECTIONS.
This has become one of the crimes
of the age. The editor Of the New
York Sun, claboratcs on the question
in this way; "Onc OF the complications
added to the political pcrplexities of
the Presidential canvass is the circum-
stance that so many bets must remain
unsettled and in doubt We have never
had Presidential election on which |
so much money was staked as on that
tor whose issue we arc all now so anx-
iously waiting.
The practice of betting great
Anglo-Saxon vice, has spread here at
a rapid rate within few years. The
establishment of exchanges for bets,
under the name of pool rooms, has fost-
cred the habit and given it method.
No strict moralist can hail these pool
rooms as boon to society, and wise
men keep outside of them, even though
they may be tempted to privately
make bet with friend. The pool
rooms encourage betting as business,
which is bad and though Mr.. John
Morrisscy has the reputation of being
square man in his games and bets,
yet 1t is placing an undue confidence
in any anybody to intrust to his keep.
ing for an indefinite period large sums
of money at stake between the betters
at his pools. Jay Gould's Tribune says
that two millions of dollars was so in
trusted to the pool managers during
the excitement preceding and just fol-
lowing last week Tuesday. The figure
is probably too large. The Wall street
shark is accustomed to big sums, and
very likely he has stretched this total.
However that may be, it is undoubted-
ly true that the gross amount in the
pools awaiting the decision of the can
vass is very great. The managers get
percentage of from three to five per
cent, and therefore, whoever gains or
loses, their profits will be handsome.
But these pool bets, though in the
aggregate they cover vast sum of
money, do not approach in number the
other stakes hazarded in the country
on the election. These latter must
foot up to thousands, and so far as
they depend on the election of Tiden
or Hayes they are still unsettled. In
the present conjuncture ii nay not DO
safe to assume ior betting purposes
that either is elected until one or the
other has actually taken up his resi-.
dence in the White House for betters
will Of course refuse to pay up except
on formal and final decision Of the
fact, though they may believe, as the
majority of the people donow in truth
believe, that beyond reasonable ques-
ton Tilden has rightfully been elected
President.
Therefore the new hats do not ap-
pear on the streets, but lie unclaimed
at the shops of the artists who con-
structed them for the occasion. The
wine still tries in vain TO expel the
corks. The checks remain undrawn
and the shareholders keep the funds
intrusted to them. The advantage of
the situation-from among the tborns
Of anxiety there is oftentimes pluclsed
the flower of compensation--is that
both parties TO the bets are certainly
not worse of than they were before
they haxarded their money. To man
of highly sensitive nature and pro.
found regard for the good of his friend,
equalling If not transcending his love
for himself, the trouble about a bet is
that the winning occasions loss to
the person with whom he bets. lie
may hate to lose his own money, but
neither does II crafty him to profit by
the loss Of another We are sorry to
say that this feeling is not yet uni.
vcrsal among betting men. In the
present case, however, we should re-
gard 1t as quite absurd stretch Of
conscience for any Tilden man to feel
compunctions, if he SO far violated the
admonitions of the strict moralist as to
bet at all, because he had TO take
money from a Hayes man who added
to the wrong Of voting for the candi-
date Of Gratism the loosencss of bet
ting on his election. So caIamitous to
the country would be the success of
Hayes that the loss of his bet by
Tilden man would be personal ag-
gravation, added to his share Of the
common injury, heavy indeed TO bear;
whereas the Hayes man, though he
would lose his money in the event of
Tilden's declared election, would yet