Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1882-12-16

IeaCn prOuuCihB
through Indians, Ohio. IllinclS;
max ing corners Is 10 make an uncven tFAns~
portation. Corners are made every litts
while, but I can NOT ysmsmber NE last one.
The system OF making corners does not
ipiure Transportation interests, 90 10 makes
large nart ets. On The whole i, think IL
helps. Il gives produeers better peioess
and those who make corners loee. The
consumer may pay more, also speeuiators
some two years ase is repeated 10 hsvs lost
millions. The farmers kept back their
grain and they made the money: The
western railroads wers noe materially af.
fected one way or the other. They deal
without regard TO -
Ffesitfoas 1rasspoststten.
Cornerins In stocks OF the Hannibal Il
ST. Joe resulted disastrousiy to the man
who made 1t, for when he got through
with his corner he found he had lost his
fortune was interested In the Chicago
a Northwestern corner. II wAs selling %
rs or 80. / thought Il cheap ct that price,
and my brokers had orders TO boy all that
was sold and when IL got scarce the prioo
ran up. 1t resulted In carrying the price
up high, to $50 and then fell back again
to so. / think was induced 10 part
with some at $50 ] do not think this
course had the slightest effect upon the
community in general, although IL may
have hurt the private fortune, Q, hdly,i'
not recall any other corner. The Harlem
Corner" was before my time. The effect
Of dsalinS~iA futires OF stock upon
owing sRxSAs fact that few
options arshsalt in2tlbAhink speculation
tends to do good, sfit sings money 70 this
country. The freer your markets are, the
more freedom you givseeeepttal. would
Be sS:Iy very On 9:5st .'ssR. o reason: pS:
mentioned. The men who speculate arc
not those who plow the -so1t-or produce
grain. The mon who spsos111o.do 30 for
the reason IL is their lsgitimate business.
II the legislatures were TO say, dealings In
futcres were gambling, Il
wouIa heGnsnAuDs.
but until such time<s Ae legislation says
Il il gambling, / shall not believe IL 20 70
be. supply and demand should govern
these speculations, l think. Large expor-
tations Of grain tends to30ncreass emtgra-
tion and increase production. i do not
think any transaction which draws capital
from every centre in Europe then can be
! would designate n system OF bucket shops
O public evil. People will speculate from
your minister, barber and baker, down.
People want 10 deal In chAnrssI i aept
think there Is the amount OF gambling
done in this city which formerly existed.
am sure speculation In grain dement's
home producers. II creates markets all
over the world. Last year We bad O short
crop both OF wheat and corn. We should
wheat. The system Of trans-
portation increases emigratisn. In
his way new railroads are built In these
growing cereal districts, and railroad man
sgers invite immigration. j have spent
large sums OF money the past ten years IN
promoting immigration. The railroads
baye been the great motor In promoting IT,
The way to do IL is 70 meet parties at their
own homes, and. there explain 70 them
the many benefits derived by coming 70
ibis country. We have . general agent for
all the roads. He employs subordinatex,
Our terms 10 emigrants for farms md lands
are usually ten per cent. and the baisoce
to be paid In term OF years. have ire
quently supported families who sufer from
bad crops until new crops came In. ]
charge them from three dollars 10 SIX dol
lars an acre. They purchase from 80 70 100
many families 20 those few who purchase
large tracts Of land. ,.
al Ge west
twice year, and Elk towns which
have sprung pp In the interior. Ireland.
Germany, Norway, Sweden snd Denmark
send the most Of the einigrants. About
10000, 900 acres Of our land remsins un'
| uEed.".
.lnstAnces have occurred where corners
have been made In the money market.
Such corner, soon regulate themselves, sl.
though while they last the market II de.
pressed. do not think trade 10 much Of.
iscted by IL. OF coursc, business men be.
come more ciYcumspect In their dealings.
Money was very tight here three weeks
ego. Gold certificates wers used on that
occasion. Corners In the money market
are not always produced by capitalists lock
ing up their money. In the fall Of the
year there is always scarcity oil money.
sm not familiar with cornen, either In
oil or cotton. ! am not engaged 10 the
banking business. A panic 10 when men
lose their balance. This Il generslly pre-.
ceded by . corner or general distrust. Men
| in panic times lose their reason and rush W
cell. The first panic vas In 1851. IL was
oauied by 6cbuyler's frauds. the discoysry
| that there had been m over issue Of New
Haven stock. PaDics have their good elect
% we'll ~ their bad. The second panic. &C
the time OF the civil war, was caused largely
py the breaking out Of the war.
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