, 1880-08-15

CoRNER1EG THE FOOD OF TEE WORLD.
The American spirit of speculation appar-
entity knows no bounds. There is no hight
that it will not attempt to scale and no ram
mart that it fears to storm. 1t is not terrified
by the possible loss Of millions so long as
there is 4 prospect Of proportionate gain.
Men OF the time seem never to be satisfied
with money-getting. The gambling pro-
pcnsity is stronger than the attractions OF
ease, comfort, peace OF mind, aud personal
luxury. Gigantic operations seem rather to
allure than repcl the modern speculative
nature BY their great risks. The chief gam
blers Of the country long for new worlds to
conquer, and their brains and dauntless
pluck are constantly dcyising schemes Of
venture which are simply startling to the
man of moderate means and conservative
business habits.
But there is limit TO speculative posi-
bilities. There is one thing that the specu-
lators cannot accomplish except under cir
cumstances that portcnd disaster to the
world i'll common. With the rcsources!of
this Continent staring thom in the face they
cannot hope to get up Il corner on food. Uni
vcrsal failure in the crops is the only condl-
tion which will ever again render such an
undertaking feasible. The Northwest is the
granary Of the world, and Chicago is its
depot. No one man nor any combination Of
men, though backed by all the wealth that
the hope Of a prosperous speculation will
attract, can control this market which fur
nishes mankind with itsa food. There is too
much OF it: it Is too easily, quickly, and
cheap1y produced to admit of 'cornering."
The experience Of 3Ir: Keene and those as
sociated with him III his last years wheat
deal shouId teach ambitious spectators
useful lesson. When Mr.. Kcene came into
the Chicago market to buy wheat and hold 1t
for rise, some months ago, he was engaged
in perfectly legitimate business transaction,
and one which would have proved profitable
had it been confined to the limit Of reason.
But when he took others in with him and
combined to control wheat to an extent that
would enable him to dictate prices, lie. went
beyond his depth. He miscalcu(atcd' the
influences exertcd by the modern facili-
tics for storing, caring for, and trans
porting grain. lie underestimated the u1l-
! bounded richness and illimitable expanse Of
| American wIeat-growing territory, and the
quick and almost certain recurrence Of q
great crop. He "loaded up" to such an ex-
tent that he was never prepared to unload
wit!lo ut precipltatlng disaster upon himself,
| and at the last had to crawl out from under
the great speculation with confession. Of
deleat at the best, and possibly with consid-
cradle less. It is pretty certain that Mr..
keenc will henceforth prefer to project
"corners'' in railroad stocks, public securi-
ties, articles Of limited production: and
1t is also probable that othe1 men equally
venturesome and able to command even more
money, will refrain for some years to come
from all attempt to control the brcadstutrs
Of the world.
The assumed success Of an alleged corner in
pork In this market is not inconsistent with
this view Of the case. The speculation l. II,
mess pork-a1l article Of food that would al,
must have disappeared from the market in
this day of abundant and cheap presel ved
meats IT it had not been for the speculative
activity. \ virtual "corncr OIL pork" SC
Called, IS therefore possible, because it Is ar.
tl1iclal. Ike cmount of this particular arti