The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-10-05
GAMBLING AND GAMBLERS.

GAMBLING AND GAMbLERS.
1t was enough to make a horse laugh,
using current but expressive slang to read
in our special Chicago market reports yes
terday of the virtuous indignation felt by
members of the Chicago Board of Trade
over the revelation of some new and irregular
scheme of gambling speculation that had
been projected. The Chicago Board of Trade
and the New York Stock Exchange are little
more or less than great gambling houses
besides which the Kursaal dwindles in the
extent of its operations and the viciousness
of its influence. Starting from New York
and Chicago, fell spirit of speculation, So
called but gambling in truth, has spread over
the country, inoculating every community,
the effects of which may not be easily or
lightly estimated. 1t affects every man,
woman and child in the country, the unwill-
ing victims as well as the willing ones. 1t
raises the price of every staple commodity,
and adds to the expense of every family.
This is its indirect effect it's direct effects
are seen in embellishments, defalcations,
ruined homes, blasted regulations, broken
businesses, suicides, in the inmates of poor
houses and in convicted felons. A current
item says that Jonathan G. Bowles, who re-
Gently died as pauper in the Cleveland In
firmary was twice worth 100000. He lost
both fortunes in speculation. The other day
the Journal published the downfall of a
formerly reputable young business man of
this city through gambling in options. Not
long since the local agent of one of the prin-
cipal lines of railway leading into Lndianap-
oils defaulted and decamped-"margin"
gambling Yesterday we were told of bank
director who had lost $4,000 money in
bank, involved his home and business, and
put himself in debt, because of money lost
is happening daily everywhere, in this city
and State, in every town and county,
and in many States. The Jour
nal published recently the figures
collected from fifty-three counties of Indiana
of the losses sustained in wheat gambling
alone. 1t is well understood that the recent
bank troubles in this city came about large
ly, or were aggravated, by the enormous
losses by our people in speculation. The
people of Indiana make a great deal of
money in legitimate business. They are
prosperous in agriculture, trade and indus
try. If the profits were retained and per-
mitted to accumulate for time there would
come added prosperity, and extension of
business and commerce in all directions
But the amount of money lost
in speculation in Chicago and elsewhere is
simply enormous and crippling This evil
cannot be exaggerated. The evils of ordi-
nary gambling are confined almost OK
clusively to those who play, but from this
form everybody suffers. The cure will come
from two sources: the inevitable loss that is
sustained by all who engage in it, and in the
development of sound public opinion that
will make this species as disreputable as any
other gambling-that will make margins
as dishonorable as faro chips, and cause
all places where gambling is carried on,
whether called boards of trade or "bucket-
shops" to be regarded with no more len
iency than is accorded to the notorious
dens where faro is the only business.