Sacramento daily record-union., 1882-01-23

Il is not true that the farmers will be
benefited by the proposed change. 1t is
not more true than the parallel assertion
that the public have been benefited by
stock gambling. AS in ali games OF
cnance, there will be occasional winnings
made by the outsiders. These are the
bats which lure on the public. and keep
up the custom of the game. But when
the balance is struck it will be found, as
it has always been found in stock gambling,
that the great bulk of the surplus win
nings Of the investors has passed out OF
their possession, and into the pockets OF
those who never worked for a dollar of it,
save by quitting up" rascally "jobs y
upon the public. 1t is said, on behalf OF
the wheat gambling scheme, that the
staple to be dealt In viii always have a
positive value. No doubt that is the case,
but it does not change the character, nor
viii it alter the results, of the proposed
speculation. The public are to be invited
to speculate in wheat. On the one side
will be the people, knowing little or moth
ing about the business on the other side
will be class of men who have made IT
the business of their lives to understand
the subject in all its bearings. These experts
invite the ignorant public to come and
gamble in wheat. Can any sane man doubt
the consequences of accepting such an in
vitation? As to the pretense that the pro-
posed speculative market will help the
farmers, that is the most impudent allegs-
ton yet made. What is sought is to inter
pose between the farmer and his market a
machinery which is devised expressly fer
the purpose of diminishing his profits.
Are there any farmers simple enough to
imagine that the men who are bolstering
the new scheme are inspired by public
spirit? They are con the make, in street
slang. They expect to get money on both
hands from the credulous gambling out
siders, and from the producers. They do
not propose to put any capital into the
wheat-raising business. Their position is
that of middlemen, who undertake to COM
plicate the transaction of what should be
perfectly simple and straightforward
business, and for their own advantage.
Theyreally propose to divide as much of the
farmers earnings as they can get at and
this generous proposal their claqueurS advc-
cate as real piece of benefcence. The
plain truth is that the plan is calculated to
fatten the brokers and commission men at
the joint expense Of the farmers and the
speculating public. There will be a great
show of business activity, but three-fourths
of this will consist in turns" the only
result of which will be the fleeing of
IGNORANT and rash spectators. There will
be no more wheat, and there will be no
more money paid for the wheat. On the
contrary, large percentage of the price of
it will be intercepted by the expert gam
blers. And this is the whole philosophy
of the wheat-ganbling business. 1t is ad-
vocated in the interest OF set of sharpers
who are curse to the community; who
have never earned dollar honestly in
their lives; and who are now endeavoring
to cajole the farmers and the public, by
playing upon their lust of wealth, into
stopping the gap left by the collapse of the
Comstock, with wheat. We have no
doubt that the experiment will be tried,
however; and We are equally certain that
it will be sufficiently costly one to the
outsiders.