The home journal. (Winchester, Tenn.) 1858-188?, 1884-04-09
ADVICE TO A YOUNG NAN.
LET GAMBLING IN STOCKS AND
WHEAT AND PORK ALONE.
The Chances Are Il WIN Cause Yon 10
Wake up with n Headache II Yon do
from the Milwaukee SUM-

From the Milwaukee SUM-
A young man writes rs follows: 81
am book. keeper in wholesale house,
on salary OF twelve hundred dollars
year, and I have five hundred dollars
laid up. want to make some money,
and have thought some OF specializing
little in wheat or pork. / know sew
eral young men in my position who
have made quite little money specula-
ting, and | have been tempted to invest.
several times, but have not yot been able
TO get up courage to take my five hum
dred dollars out OF the bank and put it
in tho hands Of commission house.
What would you advise me to do? !
have guessed on the market several
times, and haze guessed right, and If l
had put my money OF my guesses,
would have made considerable. Now,
tell me, honestly, because ! know you
have spcculated. and know all about it.
Young man, go and look at yonr five
hundred dollars, and see If it IS there
vet. All, it is all safe, is it? Looked
sort of good, didn't it? Made you feel
proud when you saw it, proud that You
had earned it by hard work? Well. il
YOU had twice the amount, won at gam
bling, or in wheat speculations, you
would not think half as much OF it rs
you do Of this first five hundred dollars.
You don't ever think Of spending tits
money foolishly. 1t represents to you
bard work coined into dollars. If you
had accumulated it without work, in
speculation, and it came easy, you would
be locking for horse that could beat
the crowd or the avenue, in less than q
week. You would be spoiled if you &C.
cumulated money easy, and ruined il
you lost your five hundred. You keep
right on keeping books, and keeping
them well, and forget that five hundred
except to draw tho interest regular, or
unless Won see piece of tirst-class solid
property that is offered cheap. But
don't you put dollar on wheat or pork,
expecting to win, for you will lay down
your bundle sooner or later, and wake
up with headache. This is not the ad-
vice of one who ever speculated dollar,
or who ever will. but one who has been
watching those who do speculate for fiji,
teen years. Not one in hundred Of
them but have lost. Those who have
won arc no better off, because they have
worn themselves out Watching the mar
ket and cursing their luck. 1t is bust
ness that should only be done by ricl
men for amusement. The rich can lose
and not feel it, though some of then
kick pretty hard when they lose. Blu
the poor, those who are depending Oh
their labor, either OF hands or brain
should never indulge in an amusement
that makes even the rich wish they wert
dead. You can take hundred dollar
and go to faro bank, and guess on TIT
deal, in your mind, with your hand OF
your money in your pocket, and you vii
guess right very often, but If you pu
your money down, the majority o
guesses will be against you, and thu
commission the bank takes will soon ca
mp your hundred dollars. If you bet
dollar on each card, and won half you
bets, and lost the other half, it woul'
only be matter Of time when the ban|
would have all your money, and yol
WOUlu hive inc cAptrleHcc. Nilpo'
arguing that speculation in options
anything like faro bank, though man.
spectators will tell you it is, the resul
will be the same, only the commission
has to be paid on every deal, whethe
You win or lose. If you make dea
and win, You pay the gentlemanly com
mission man his commission. If yo
lose on the deal, he is not going to wor
for nothing, is he? OF course not. TIL
faro bank only takes commission whe
You win, which shows that the far
banker IS not MS good a business man a
he ought to be. If the Sun is mistake
about commission being charged on los
ing deals, it is willing to be corrected
Anyway, young man, what you want
do is to forget that there is any chanC
for you to engage in speculation, for
you so into it, you will curse the da
that You did. Now, don't ask any MOI
questions, but go on posting up thos
books.