The Dawson journal., 1883-09-27
g'he Moral.tN Id Futnres.


hazard-0s much so as betting on a
/ game OF cards, upon horse race, or
a wheel of fortune. There are sew
eral reasons why specializing in fu-
lures is wrong.
/. We have no right to gamble in
anything, or in any way. 1t is NOR
ally wrong and injurious to the par
ties participating, at least. l have
no right to hazard my money, nor
the money of my neighbor, upon
game of chance and although we
may tacitly agree to make
such hazard, the agreement does
not alter the moral wrong. The law
Of human life and subsistence is
based upon an honest living in the
sweat of the face; and no man has a
right, ordinarily, to make living by
getting something for nothing. To
sit around and speculate fictitiously
upon the lise and fall of cotton or
corn, at a future date, is not an hon
orable. manly or elevating method Of
making a living-any more than get
ting my neig ..bors money at cards.
1t is demoraiizing upon those who
come under tie influence of the
example. The effects of such meth
DDS OF living are evil only and CON
tinually, from a moral standpoint,
upon society. The air of respect
bility about the future business does
not rob 1t Of its evil moral effects;
and the tree is known by it's fruits.
Another evil Of dealing in
futures consists in the retardation of
material progress, and in the op-
preston of the masses, producers and
consumers, by bearing" against
the former and by "bulling against
the latter The very necessaries of
life are at the mercy ofthe monopo-
lists and speculator. The dealer in
futures does nothing in the way of
producing, forwarding Or handling
the food or cotton products of the
country, and they grow rich at the
expense of those who produce by de-
preciating the value of the products
at the time of production, and by
enhancing the price Of the same
when the poor laborer must con-
sumo. The legitimate law of sup
ply and demand do not regulate pri-
ces at all; but these prices are
manufactured by the great produce
and cotton exchanges in Chicago,
New York and elsewhere. As it has
been said, "rhe business Done there
is entirely fctitious-the mare bet
ting upon the rise and fall in futures
of the article in question: Chica-
go and New York buy and sell of
futures, every month, more wheat
and cotton than are produced annu-
ally in the entire country Monopo-
ly by means Of the exchange and
banks, fxthe prices of every produc-
ton for this country and for tie
world, irrespective of the law of de-
mand and supply; and every ficti
tious advance in the price Of food
products becomes a real price, both
against the producer and the consn-
mer
The cost Of living in this country
grows more troublesome every year
from the fact that specializing upon
the necessaries of life permanently
enhances the prices of food products
by continually forcing these prices
above their ratural level, and never
forcing them below The great
Armodr Pork Corner in 1879 had
the effect OF raising the price Of pork
from eight dollars barrel to eigh-
teen dollars and half-not because
the supply was IN any way affected
but because a few speculators con-
trolled the supply and raised the
price. So il every instance of cor
nering and speculating in the conn
try upon the necessaries Of life and
whatever affect the price OF food
| products affects everything else, be-
cause upon the price Of food depends
the producing labor Of the country
The few spectators get rich, ani
the poor masses suffer the conse-
quences of high prices, 1t costs more
to make cotton, raise grain and cattle
by reason of the gamblers cornering,
and when the products are raised
the speculator ''bears" him down to
get what he has made, to ''bull' him
up when he has to buy it back again,
in the price Of living. All the riots
in the country-all the disturbances
| -, H. Ii l..l.unn., lOln.n..l -: