Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-07-26
NOT TOBE RICH
The Seductive Broker spo MS Deinded
vietim-The True philosophy Of
Stock DeaIi5g'
The Only Way to be Successful is to Let
the Thing Alone-Gsed ADVICE
to EverybsdI'
New w, 10,,-,.l ). commerce.

| We receive almost daily no" sIMe part
| of the country one or more AIeis VI .nquiiy
concerning the best methodsoi gamohng In
| stocks. Most of these connunica.lons In
close a circular or advertissih:ens %. - me
writers from some firm In nls tsSsif e
| TO undertake the speculationin ;,h =, al
who will intrust the adverse. WI .lnos
| for that purpose. These seductive mlssives
| are full of promises decked - iHinoo" i.ues.
''For $500 deposited with Us we can almost
| insure the deposition a small iof'une mhnin
a reasonable time.D "We bzye tAS inside
track, and can make better reinrn Is, tn@n any
other firm on the stock markeL Inc SUI Oh
500 deposited with us viii oiten gro" 10
| $500 in the course of single season. and
larger sums, enabling Us % w q
| more liberal scale, are cerinn un ol5
careful manipulation TO Yea .oiu
profit to the investor" These anu many
other similar devices are gathered broad
cast through the city, ana IN a.,
the rural districts, and drsN continual
stream of offerings from thoss VINO are ouPes
of their own desires to becoms Iicn-
The risk would be far more than any resson-
able person ought to encounir, Jug euxei
tiser was honest and really sugnt 70 invest
the money thus intrusted TO AIM 10 Inc pssi
advantage. The stockbroken VINO lnanass
fairly live upon the business, many Oh mem
most extravsgantly, and the enances .neie-
fore at the very best are against Tue investor,
the majority of whom must mPPiy tnese re-
sources. The bulk of the business Is taxed
to support the entire body ofbrokers and TO
pay all the expenses of this ysst machinery,
and hence the money invested as a whoie Is
handicapped with the losd tnich IL must
pay before it can make an ssersge return 10
the owner. 1t is certain, therlore, tnat the
money put in by outside parties, as IL goes
first to support the dealers and pay all the
cost of the establishment, mud sufer large
aggregate loss equivalent to TINS amount
The chances, therefore, if the whole opera
tions were squarely conducted must be that
each person who inyests will IN the END,
draw out less than he puts ins and thus pay
his share of the tribute. Bot the fleeing of
the simple ones is not left to chance ne
bulk of those who send their money to the
stock market in the hope of drawing prize
pay more than their regular Iefage snare
OF the cost of the operation The authors
OF most of these seductive ,dyertisenents
sent out TO solicit business hsve no intention
of dealing fairly with their pfresponqents;
1t is skinning game, and = 20 designed
from the outset They may Ply their VIC
tim little until they have seu the bottom
of his purse, and thea they uipe out bis
little store as clean as a whidie. They ex.
pact that each patron whom the< ro1 Flll
keep still for his own axe. bot they ave
him no legal redress, even If be u o1spsed
to make trouble. III the dupN WhQ send
this money for a gambling venture VIII
think for a moment what il > they under
take, they will see that tbey hate really
little cause TO complain. Thy have gone
out for woel and they have come home
shorn. They know very well hat q IL not
business where it is possible for both parties
to any bargain to make prc6f. All that
one gains the other must lose, and IN addi-
ton the loser must pay the expenses OF the
operator. Ii our innocent rural friend who
grumbles SO much over the robbery" OF
which he has been the victim had really
gained his desire, he would simply have
robbed to that amount some other wool
hunter who had gone into the market on the
same errand. When there il a square
deal this is the result, one lucky
fool gains what the unlucky fool
loses, less the cost of maintaining the
one who throws the dice. But in the class
of business under notice, the enterprising
advertiser, for the most part, robs both the
fools, and keeps the entire pool rs his own
winnings. There is no method by which
better returns can be insured from this class
of operations. The way to accumulate money
is to save it, not to invest itinstoek gambling.
There 10 hardly awofkingman fnthe country
who does not absolutely waste--thst is, spend
for that which does him no good-money
enough to produce him a competency if he
would practice the required selfdenial and
lay it by in a savings bank for the necessary
term of years. 1t is not the earning of large
sums, but the saving of smaller ones, that
lays the foundations of a fortune. We do not
speak OF money as the chief good. There are
things more desirable than fortune But
the only proper method of laying up money
is to save 1t from ones legitimate earnings.
To speculate with a hope of gaining is to
appropriate the earnings of another, with
he chances in favor of losing ones own
fleece while in search of the other mans
WOOL.