Lexington weekly intelligencer. (Lexington, Mo.) 1871-1887, 1881-12-10
THE CURSE OF OPTION DEALING.
1t we were asked what was the great

1t we were asked what was the greatest
| curse that visited Lafayette county du-
ring the year 1881, now SO rapidly draw
ing to a close, we should not answer
drought or chinch bugs, but option
dealing. 1t is strong language, proba
bly,, to say that this mania-for 1t has
amounted to that here-is a curse, but
the words are none too forcible.
A few months ago the fact becoming
apparent in this section OF the country
that drought would cut our corn crop
short, a few gentlemen took pains to as.
certain whether or not . similar condi-
ton was general, and finding 1t 80 they
invested largely In futures, and made a
good deal of money-in n or two IN
stances fortunes This success was
phenomenal, as it is not often the city
dealers let their country cousins who are
their especial pet ''lambs," make much;
but in this case there was SUCH a deci-
| ded reason for an upward tendency that
the market could not by any possibility be
depressed. The good luck of the few
gentlemen here alluded to, at the Begin
ming of the advance in corn, was a mis-
| fortune TO their fellow citizens-it seem
ed so easy to make money that way; no
labor, no care, no loug-waiting dozens
OF them began to invest in options on
corn, wheat. lard, pork, anything. The
consequence was inevitable; their 'tluck'
was not 30 good a. the pioneers in spec.
u%lation; many Of them lost money, some
Of them heavily, and q few to the rum
of their credit. The latter were like the
gentleman who hearing option dealing
discussed remarked that the secret OF the
thing was to know when to quit. He
said that he had been a large operator.
but that he had appreciated when it
was time to leave off. Being asked
what had been the time to stop In his
case. he replied that he "bucked at it"
vigorously until 4 day that he only
had money enought to pay for moving his
| wiie's trunk to his father-in-law's house.
Seriously. tor the subject is a serious
one, we know of nothing so demoraliz.
ing to a community as the development
in it of a habit OF gambling. A gentle
man of much intelligence and knowl-
edge OF the world assured rs a few days
ayo, that we would be astonished to know
how many men in his neighborhood
were dealing in optlons-small farmers.
who could ill afford to run risks with
their slender means; and young men'
borrowing money on their expectations,
to hazard it on a game more uncertain
than the turning of a card at faro or
the chance OF q color at rouge ct NOR.
Not q few Of these men are members
OF the church of Christ, and would be
Mortified at tho idea of being caught in
a gambling hell, yet they engage in a
business more d~emoraiizing than that of
the common gambler, because more in
siduous.
It will hardly be oontended that option
dealing is anything better than gamb.
ling. 1t has been 30 held by court after
court. 1t contains the practical and
moral elements of gambling-a some
thug for nothing, and a purchase In
which goods are never to be delivered.
but where chance and events over
which the investor has no control deter
mine as to whether he shall gain or lose.
Conceded that it is gambling none will
deny that it is injudicious. immoral and
hurttul. 1t has always been held 10 be
a vice, and legislation against it is recor-
ded as far back AZ the Roman republic
and empire. As little charity as the world
is wont to extend to the rich this sin 10
not SO iraught with evil In them as in
the poor. A rich man may indulge
himself in the risk of some of his sur
plus in order to crafty his appetite for =
mental stimulus. If he loses it Is a
small matter to him; he has plenty lett,
and is not seriously incommoded; but
what right has a poor man to risk the
bread and shelter of his wife and babes
upon a game OF chance None. How
can a business man whs deals in options
expect to have any creditP No banker
can safely loan him money. If he de-
murs to this a. unjust he has only to ask
himself ii he would entrust his cash to a
clerk who gambled.
Tho evil OF option dealing cannot be
exaggerated. 1t impairs confidence.
destroys credit. units mea for legiti.
mate business, and, persisted in, brings
rum and disgrace; tor the sharks OF the
street are always watching and sooner
or later gobble up the lam 8 who are
out of their element when they venture
to cope with them. It is a violation of
the edict OF God, who has declared that,
''ln the sweat Of thy face shalt thou eat
bread" 1t demoralizes a community in
which 1t becomes common, and unless
desisted from will sooner or later bring
disaster. disgrace and distress. Better
the slower but more Trustworthy and
honorable paths OF diligence and indus.
try, which 1t they do not 80 soon enrich,
give US peace of mind, standing with