The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1879-12-04

SUCCESSFUL lnCuDauOD III certain cases, or see the
fright as the young hutteT OF into some unex.
pected element and then bethink yourselves OF
my text,
Again, remark that Wall street stands for le.
giimate speculation and for Huinous gambling
Almost ever merchant is In some sense a specu
latOr. He depends not only on the differences
between what he pays for his articles al whole
sale prices and what he gets for them at RETAIL
but also upon the iuctuation Of the market. II
the market rises greatly he gains greatly IT,
man has as thorough q right to deal
in stocks as he has to deal In iron, or coal
or hardware, or dry goods. That man who de-
nounceB all stock business as iniquitous only dis.
plays his own ignorance. Stop legitimate speCu-
lation in this country and you stop the factories
stop the banks and you stop the railroads; you
stop all the great financial prosperity of the coun
try. The stock broker is only a commission
merchant He gets his commission on one kind
OF goods. You, the grocer, get your commission
on another kind OF gOods The dollar that he
earns Is as fair and bright and honest dollar as
that earned by the cay laborer. But here we
must draw very distinct line between lawful
speculation and ruinOus stock gambling, which
has brought upon this country three.fourths of
It's commercial w0es and which is now turning
the heads of many people and filling the land
with lunacy and inebriation. You, the stock op
orator, sell 800 worth of nothing and get paid
for 1t. You steal from that man just 10 much
money. You say II is contract on time. You
say you have no property, and do not expect to
have. The man who buys does not want 1t. 1t
is sold at thirty days. You sell one hundred
shares; you are to get for them $4,000. 1t Is to
be delivered In thirty days. If at the end of that
time you can get the scrip for $4,000 you have
made 81 900; but If at the end of chat time you
have to pay Sll 600, then you have lost 81 900,
Now, my brother, that Is traffiqking on fiction,
that is betting on chances that makes you as
certainly gambler as the man who makes or
loses his fortune in one Of the gambling hels.
Now, 1t 1s against this kind of traffic in stocks
that warn the young men Of my congregation.
Almost every successful merchant during his
life time wakes up and says Here l have been
successful in my regular line of merchandise.
now I'll just go down and consult with the bro.
kers and perhaps Ia three weeks can double
my fortune. What's the use Of my being satisfied
with $4,000 or $4,000 income when that man
next door TO me, In the same kind Of business,
by one move In Wall street made $500 000"
There they came on Wall street, retired mer.
chants wanting 10 get little excitement
In their sluggish veins There they come
trustees of vast property, willing to rush Other
peoples estates in the Whirlpool Fortunes that
were 40 years in accumulating scattered In day |
Men celebrated for their prudence finging into
| the vortex the livelyhood of widows and or.
| phans Oh, is 1t any wonder that some times
these men lose their reason Oh, it is this insane
passion for stock gambling, against which, this
morning, in the name Of the Lord Jesus Christ l
utter my solemn protest 1t has cursed all civil.
lied nations and every Christian age, and the
say is true, and they could present this morning
a great deal more illustrations out of their own
observation than can present out of mine. 1t
| is not peculiar to the merCural Americans. The
Holanders, the most phlegmatic people in the
| world, in 1888, had what was called the tulip
| mania" II was speculation In tulips All the
| people In Holland went to buying tulips or sell.
| ing tulips. The excitement went on until one
| time root brought S2C0, and another $4,000.
| Properties worth half million were all thrown
into this one speculation. The Amsterdam tulip,
| supposed to be the only one of the kind In the
| world, brought S1,S14000 Look at France. She
| had her excitement iu 1716' John Law projected
| the Mississippi scheme The people of France
had heard that The American Continent was
| chunk of gold, and this Mississippi scheme was
| projected by John Law for the purpose Of taking
this gold and pouring it in on France, The
| whole nation turned into lunatics. The people
| rushed in. There were three hundred thousand
| applicants for shares, The mounted military
sometimes had to disperse the crowd of men who
| were determined to- get some of John Laws
stock. There were five hundred temporary tents
erected, In which the people could stay while
| they were waiting for their interview with John
| Law, lady Of fortune had her cOsChman will
| fully upset her coach near by where John Law
was passing, In order that she might In that way
| get an interview with that benevolent and sym.
pathetic man. Stocks went up until they reach
ed ~, $50 per cent Suddenly the people began to
suspect there was something wrong. Crash
| went John Laws Mississippi scheme, and under
ii was buried the protector and all the best finan-
cial interests OF the French Empire. Sedate
| England had her stock gambling excitement in
l72O. 1t was the South Sea Company 1t was to
| pour the gold Of Peru and Mexico and all the
islands of the sea into England. Books were
opentd Five millions worth Of stock was offer.
ed at $500 share. In few days 1t was all
| taken, and twice the amount subscribed. The
whole English Nation was racked with insane
excitement, Under the wing OF that one excite.
ment there came other stock gambling Compa'
mics, among them company formed with large
capital for providing funerals for all parts of the
land another Company to develop with Its e.,
100000 of capital wheel in perpetual motion;
another company with a capital OF AOOOOOO to
insure people against losses by servants another
Company with f26000 0O0 Of capital to transplant
walnut trees from Virginia to England; and then,
TO cap the climax, o Company was formed for q
great undertaking, nobody to know what II 49,
and lol f600 900 Of shares were offered at fl0O a
share. The books were opened at o'clock in
the morning and closed at o'clock in the after
noOn and the fist day 1t was all subscribed, A
great undertaking, nobody to know what 1t 10.
But 1t was left Tor our country to surpass all
other countries. We have here the biggest rivers
and the biggest cetaracts, and the biggest noun
tains so we had to have the biggest swindle
The country had done very well in that direction
in the days OF Morus Multoaulis, when each
man had in his own house q collection Of crawl
ing silk worms by which he was to make hii
own fortune; but all was tame comparatively un'
| Lll Ill lOOf u lnhL ulBRllR near lllubNllle, IGuu
sylvania, for salt, struck oil. Twelve hundred
oil Companies calling for billion OF dollars
Prominent members of churches, as soon 81
stocks had been assigned to them, felt at liberty
to become Presidents and Secretaries and Direc
tors. Many OF the Companies owned not 100
OF ground Their entire equipment was maj
showing where oil might be and two phRls
gSease, one crude aud the other clarified. We be
came nation OF maniaCE. One young man, haV
ing sold hia farm In Venango county at fabu
| 1nu1 Dripn the gunnOaitiOU that there Oi
In II, came TO Philadelphia when was livint
there, and he threw down 5000 check at thu
hotel to pay for one M al and did not want th
change, and then stepped back to the gas burne
and lighted his cigar with $1,000 bill unso
phisticated people poured down in the hTst trail
to the city and put all their hard earnings In tn
gulf People said There can be no mistak
about it, good Elder So-and.so ia President Of II
and good Deacon so.and so is Secretary Of It, AM
then there are four r. five professors OF religlo
on the Board of Directors, and joining that Com
pany will be almost as good ss joining tn
church Poor souls They did not know the
when professors Of religion go into stock gam
bling they all lie like sin.
But the comedy turned into tragedy, and on
thousand millions Of hardsarned property wa
swamped; and to-day there are multitude' {
people sitting In the shadow Of destitution VIII
but for that great National outrage would haV
had their cottages and their homesteAds. CIV
you these four illustrations Of neiarious stoc
, BhmDlUE W bnOW tue young neu LluIe eebpeOlhll
/ Of the congregation what fools and knaves 1t wi
make Of the people. l want to show them whit
an insane and contagious passion. 1t Is, and
want TO show them also that the Lord God hate
8 1t, always has punished 1t and always will puI
> ish 1t.
O. men Of Wall stree I, men Of all streets, stan
I back from nefarious enterprises, Join those pe
B pie who, on every block from Broadway TO Wa
' street Ferry, have illustrated Christian prime
! Piles. AT the opening OF every day in your brt
ker's Office, or In your store or your bsnkiI
: house, utter q, silent prayer for Gods blessin
! ana when the Gay Is done pronounce on II a be-
r ediction. Let II be sounded in the ears OF Il
a young men Of this country what George Peabod
. said In an address at Danvers in 1856, when I
visited his native place, and was speaking to b
s townsmen. He said: Though Providence hi
D granted me UNMARRIED and unusual success In Il
, pursuit of fortune In other lands, | am still
: heart the humble boy that left yonder unpreteI
D tious dwelling. There is not youth within Il
D sound ofmy voice whose early opportunities az
- advantages are not very much greater than we
. my own, and have since achieved nothing tn
. | Is impossible to the most humble boy amor