, 1884-01-17
A Proper Time for a Bolt ~


OregoHia".l
PendIeton is not a democrat, he is
civil service reformer. and therefore
he cannot be re elected to the senate
He was the author of the civil service
act that passed both houses Of con-
gress last session and became law
The principal argument used against
mm now Is an allegation of his un
iaIthfulness to his party as shown by
MS adyOca Y of measure that would
set aside the system of distributing
the offices as sp ills OF rewards for
partisan service, and So keep ''got d
democrats" out of Office. Yet every
democratic convention has condemned
he spoils system, which Pendleton
Is now condemned and sacrificed for
not maintaining.
1t is said that Henry B. Payne is TO
be elected in place of Pendleton.
Payne is a very wealthy citizen of
Cleveland and a member of the
standard Oil Company, the most gi-
santic of the great American monop
olies. As the candidate of this mo
nopOiy enormous means of influ
ence" are ready for use in his behalf
IF. Payne is in no way distinguished
for his services to his country or to
mis- party. He simply has his '-bar'l."
and this makes him an attractive can
didate. Great effort was put forth by
the PendletUn men to make head
against Payne by showing that the
1t. ,,F1 II
nopoly, but this was soon abandoned
as hopeless. The charge didn't weak
en- Payne, but rather added TO his
strength, as the members took most
kindly to oil, and Pendleton lost votes
instead Of gaining them. He Is now
said to be hupelessly distanced. In a
day or two the caucus will he held.
1t Is a pity that the democratic
party has not within it an element
tnat would ''boIt" at time like this.
But it has not. Caucus will rule.
The lash will be applied and members
will cringe under it. Individuality
IN the democratic party is weak
There is too little conscience and too
little independence. 1t would be
difficult, 1t would perhaps be impos-
slbie, to get Il republican legislature
together which would not be divided
by resolute ''holt" in circumstances
like these. Pendieton's friends would
honor themselves by exhibiting the
courage which ought to actua.e men
feeling the spon>IbiliIy of their rep
resentative character, and refuse to
be bound by caucus rule. In almost
every state republicans have done
this when c4ucus has attempted scan
dalous or improper things. Pendle-
ton himself would not he elected, of
course; but his friends could force
the election of Thurman, and they
ought to do it. But they will not.
Ii Is one OF the proofs of the unit
ness of the democratic party to rule
the country, that 1t has no element in
1t with sufficient independence, cour-
age or conscience to ''bolt' upon
proper occasion.
"One thing is certain" said a lead
ing broker of Wall street the other
day; "every man who has been a'bulr
on Willard stocks in the past sixty
days has lost money. and every one
who has been bear has made
enough to take his family to the sea
side next summer" Undoubtedly.
But what Is 1t TO be ''bulr' or''bearn
In the sense spoken of? Nothing
more nor less than this: 1t is betting
thit stock goes up or down in
price The ''bulP' contracts TO take
a certain number of shares, at a Ger
fam fglfglra ut tx.l d.
the shares go up so that when the
contract falls due they are higher
than the price he agreed to pay, he
makes the difference between the
quoted, or selling, and the contract
prlce. On tie other hand. the ''bear"
does exactly the contrary He sells
aud contracts to deliver Il certain
Number OF shares on a specified
future day at fixed price L., mean
Wnlle, the p1ce falls So that on the
day hXed tor delivery the stock can
be bought IN at less price than Ire
solo II for, he fills" by purchase.
makes his contract good and pockets
the difference. 1t is gambling On
future priceS. To make prices rise
OF tail, OF course, al sorts of methods
are resorted to by the bulls" and
"beaIs." Yet this sort of gambling
today largely controls tie success OF |
future OF r,Iiro@d enterprises, affect
ing The Interests OF ii iliiOns OF people. |
Compared with it. the social poker, !
greg rious keno, or sharp-:Oothed |
uger of the faro table are humanizinp
and ennObling methods of pursuing |
and promoting happiness. The one |
class, the stock gamblers, are protect
ed by lawi the others, the petty pan
derers to tickle fortunes moods. are |
Isn't there something
crooked about cur ideas Of law and
morals?
Bismarck tabooel the American
hog IN Germany, and then saw enouGh
- . . l.,