The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-05-16
CONGRESSIONAL GAMBLERS.

connection with the Wall street panic, reveals
a fact far from assuring to the better class of
conservative and honorable citizens. When
the news of the squeeze reached the Capt.
tol ''there was rush to the Stockholders,
and those who were long could not close out
quickly enough, and were so panicky' that
they lost all confidence in either side, for"
the dispatch says, "a large proportion of mem
bers of the House and Senate and officers in
the departments deal in stocks, and many of
them heavily" just so long as a large pro
portion of members of Congress are
stock gamblers it is folly to
expect legislation or even public
sentiment to bring about reform in this great
evil that continually works harm, and harm
only, to every commercial interest. A legis-
lator can no more legitimately gamble in
stocks than could a judge bet on verdict,
without the danger of conniving at corrupt
practices It is shameful that men chosen to
make the laws of this great nation should dis
grace themselves by engaging in anything so
disreputable and demoralizing as stock gam
bling. Until this business is driven out Of
the halls of national legislation it were
foolish to ask or to expect the enact
ment of laws that have long been
needed and never more than now. The
grip that spectators have on the throat of
business must be loosened. The power to
stampede the people and toparalyze legitimate
trade is too dangerous to be allowed existence.
The commercial world has often suffered
through the operations of stock and margin
gamblers, and to-day regards with we'll
grounded apprehension the wildcat doings in
Wall street that have brought disaster upon
men generally. The country will not always
patiently submit to these periodical "squeezes"
and collapses, amy more than the people
of indianapolis would were the gamblers
of this city to jeopardize traffic in gen
eral and the legitimate commercial interests
of the community. The public is awakening
to the fact that speculation is but a polite
term for gambling. The business" is grow
ing in disrepute, and its dangerous character
is becoming generally recognized
Members of Congress, as representatives of
the people, owe it to their constituents and to
the country at large to legislate against this
thing and to personally discountenance it.
Those members who were 'panicky" when the
news of the collapse came might easily be
spared from Washington and should be retired
to private life No country or community
can afford to commit the law making
power to the hands of gamblers, nor
expect wholesome legislation from men WHO
countenance gambling in any form. The peo-
pie of the United States view with growing
impotence the license granted the vice of
grain and stock speculation. While affording
the means for very few to become enormous
ly wealthy it impoverishes thousands, and Wis
its its bad effects upon ALL Fictitious prices
need but the revelation of truth to send them
below even their actual values These facts
are already too well known to re
qure argument. 1t remains for the
people to move for reform. Evi-
IDENTIFY the place to begin is in Congress.
That member who has so far forgotten the
dignity Of his office and his integrity as man
as to engage in stock gambling deserves the
contempt and distrust of the people, and can
not be driven out of office too soon. The sus-
picion inevitably obtains that he must trade
on the knowledge obtained as legislator on the
articles upon which the disReputable business
is founded. At any rate, the principle and
practice are immoral and corrupting, and the
truth will eventually prevail over all respecta-
BILE citizens that no conscientiously honest
man will engage in stock OF margin specula-
ton.