Waco evening news. (Waco, Tex.) 1888-1889, 1889-03-02
DR.. P|ERcE'S PELLETS a a1snal s..'s s9s
Laxative, or Cathartic, according to size Ok
dose. BY Druggists, rs cents vial.
A LIFE OF SPECULATION. !
Nerves Shattered by Gaining $1,000 One
Hour and Losing It the Next.


Hour and Losing It the Next.
The following question was recently
submitted to the Hon. Stephen Van
Cullen White. whose reputation as q
inancier and Wall street millionaire
is Of national fame.
"What effect in your opinion and
from your opportunities of observation
has life of speculation upon the mind,
and through it upon the nerves and
body of man2 By speculation is
here meant especially dealing in
stocks or grain on the floor of the ex-
change, or on the street, or both"
He said: "Your question is ex>
tremely generic, and would admit Of
volume in reply and then not ex-
haust the subject. It is a question
more suited to a medical practitioner
who has had stock exchange
clientage than to one of the victims.
But as you honor me by your inquiry
with an implied expression of the be-
lief that may know something to in
terest your readers, / win speak as
from the pew and not the pulpit upon
your text. All business in which a
man buys more than he needs for his
use and for the use Of his family is
speculation, and there isan element of
danger Of failure IN any business
where man buys more than he has
ready cash to pay for. Every mer-
chant engaged in general merchandise
business, at wholesale or retail, is a
speculator, and one who buys on
credit is always in More or less dam
| ger of failure in business. Whoever
has business risk has anxiety till the
prospective outcome has made itself
clear. Then, if prospectively the ven
ture is to become successful, what was
anxiety becomes in part exhilaration
at success, and if loss is developed
actual or prospective, the anxiety and
care are increased. All mental anxiety
tells on the nervous system. Ii it is
great enough to cause sleeplessness II
wears fast. But if the sufferer has
good digestion, strong and equable
circulation and avoids excess of eat
ing and drinking, he can for a long
time defy anxiety, whether it is
chronic or acute. Now, the only diff
ference between stock speculation on
the exchange and a country store
upon invoice of general merchandise
is that the amount bought or sold in
stocks is generally larger in proper
ton TO capital employed, and, more
important still, the stock exchange
prices furnish a constant barometer
by which that speculator can con-
stantly measure his losses or his
profits, while constant fluctuations,
all of which he notices, keep him q
| no~,<o,,t ,,onI,,l,,,,, hot n c,,,s1r
and tear. If a merchant goes into
business on 500 he can buy from
$l5, 900 to $25, 900 worth of goods
If a speculator goes in with $40, 600 he
can buy 500, 900 worth Of stocks. The
merchant wants two to four months
before he can estimate his profit OF
loss. The stock speculator finds that
in an hour he has profit of say $40,
600 which he may take; the next hour
tho profit is all gone, the next he seel
loss OF 1900, and at night he quit
the market full of anxiety with prob
ably loss of $500 to commence thu
next days watch of fluctuations
-, But added to these daily and norma
fluctuations there is the effect o
panics, which usually occur at the enc
vi cSdoOi Vi
! and tho profits Of weeks arc hopelessI,
swept away in an hour. Now thinl
; if were a medical man should no
be afraid to express the belief tina
> quick, transition from Panama SUI
bath to Dakota blizzard would hav
q tendency to produce colds and If Tn
2 victim had weak lungs it might natur
\ ally end in phthisis pulmonalis, unles
l death occurred from shock and gave
Q moro speedy exit. In the same way
reasoning a priori, ! would alway
guess that a nervous man would com
! out Of O series of panics with shattere
4 nerves This reasoning is well backe
|, up by the record Of men in activ
2 speculations whom have know
:, within the last twenty-five year.
q Among the SO called successful me
probably the wealth which Other
covet mag have been bought at to
It dear cost, even II corroding care ca
. ever be paid for by money. Brood
y lsyv, Eao1a tt, II