The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1884-09-06
The distinction between a CONNER

/ ne QlStlnctlOn between CONNER
cial transaction and gambling trans
action is always clear enough, though
there is a constant tendency to confuse
the two, A man buys dry goods, gro
ceres, grain or stocks for cash, or ex-
changes one kind of property for an
other by way of barter and that is le-
Ultimate trade the world over. He
may buy for future delivery, as millers
/ buy wheat, as merchants buy the sea-
sons product of mill, or the year 5
product OF an orchard, and that is not
gambling. Anticipating rise in the
yalIe, he may still DO the same. When
the war broke out, certain dealers
bought up all the bunting in the mar
ket, toresccing demand for National
flags. This was simple exercise of
shrcwdnCss and sagacity. When Fort
Sumter was fired upon, A. I. Stewart
lost no time in securing every yard of
blue army cloth in New York, and en-
gagged the product months ahead of all
the mills that were making goods Of
that class. There could be no obioc-
ton in morals TO the transaction, but
if he had paid the mill-owners GER
tain sum for the privilege of calling on
them at his option for the delivery of a
hundred bales of cloth at the eXpira-
ton of three months, the nature of the
business would have changed from
commerce to gambling. A man may
gather in every barrel of apples or
flour, or '"y share OF n certain stock
within his reach, if he will, and no.
body complains of it as unlawful or
contrary to the usagcs of trade; but
when one gives Mr. Russell Sage 50
many dollars to-day for the privilege
of putting" to him so many shares of
II certain stock within given time at
Il stipulated price per share, with no
thought on the one side of actually
selling any stock, or on the other Of
actually buying any except in the
event that the stock should 20 up or
down in value so rs to make Il profit
for the man who owns the ''pul, the
operation is gambling, pure and sim
pie. There is no need of multiplying
A transaction that is in
effect bet that at or within certain
time so many bushels of grain or so
many shares Of stock viii be worth
certain sum is As much gambling as
bet that roulette bail will stop on
certain color when the vince. is set
whiriny.
Dr. Gladden. writes: 80 say that
in margins is rs bad rs faro
or roulette IS a very weak statement; it
is immensely worse. 1t is far more
dishonest The gambler in margins
does hi, best TO load the dice on which
he bets his money. 1t ", moreover
far more injurious. BY this practice
values are unsettled; business is often
paralyZcd; the price of the nocessaries
OF life are forced upward. The poor
man. loaf grows smaller as the gam
blor's gains increase. Every cent
made by this class of men is taken
from the industrial classes with no
compensation.
The widespread suffering that has
come in the last year-and in every
year within the last dccade-from the .
failures of banks has In almost every
Instance been owing to the gambling Of
some of their officers. They have
5I)CCuldlcu Ill OIL WIFI INC lUUVS Ol
he bank, or in grain, or in stocks.
They have become gamblers outright,
gamblers rs truly and rs disreputably
Is though they had spent their time in
,ambling-houses and lost the money of
heir patrons at play.
There is good deal in calling things
)y their right names. 1t is not worth
while to speak Of gambler as a spec
llator. A bank President or Cashier.
merchant, minister, lawyer, doctor,
or cobblcr who CANDLES in
margins" or puts" and "calls" is
ust rs hopelessly in the path of ruin
IS one who CANDLES at faro or in lot
cries. When popular condemnation
nd reprObation are just as strongly set
n the stock and grain and oil gam
lers as upon the unfortunates who
taste their substance in the more an
lent and therefore better understood
chemcs for betting, there will be hope
hat not SO many of the men who are
)okcd upon as financial leaders will
over themselves and their friends
81 IL 81