Tombstone daily prospector. (Tombstone, Ariz.) 1887-1891, 1890-11-07
A LIFE OF SPECULATION. ~,
Nerves Shattered by Gaining $1,000 One
Hour and Losing II the Next


Hour and Losing II the Next
The following question was recently
submitted 10 the Hon. Stephen Van
CulIe,. White. whose reputation as a
tinafcier and Wall street milliC naire
is of national fame.
What effect IN your opinioh and
from your opportunities OF observation
has life of speculation upon the mind,
and through II upon the nerves and
body Of a mani BY speculation IS
here mes at especially dealing IN
stocks or grain on the floor OF the ex.
change, or on the street, or both.
He said: Your question is eN
Lrcmely generic, and would admit OF
= volume in reply and then not ex
haust the subject 1t is a question
more suited TO medical practitioner
Who has had a stock exchange
elientage 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, | will speak as
from the pew and not the pulpit upon
your text All business in which Q
man buys more than he needs for his
use and for the use of his family Il
speculation, and there isan element OF
. danger Of failure In any business
where a man buys more than he has
ready cash to pay for. Every mer
chant engaged in general merchandise
business, at wholesale or retail, Is .
. speculator, and one who buys or
| credit Is always in more or less dan.
] ger of failure IN business. Whoever
has a business risk has anxiety till the
prospective outcome has made itself
clear. Then, If prospectveiy the ven
ture is to become successful, what was
. anxiety becomes in part exhilaratior
/ al success, and If a loss is developed,
actual or prospective, the anxiety ana
! care are increased. All mental anxiety
! tells on the nervous system. Ii II l.
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 II u
chronic or acute. Now, the only diff
ference between stock speculation on
! the exchange and a country stor
| 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 bdrometci
BY which that speculatOr can con
stantly measure his losses or has
profits. while constant fluctuations
all of which he notices, keep him 1
constant pendulum between a smil,
and a tear If a merchant goes int
business on $4,000 he can buy frOL
$4,000 to SIS, coo worth of goods
II a Epeculator goes in with SIC, 600 Et
can hny Slql GlD worth of stocks The
| merchant wants two 10 four month,
before he can estimate his profit Ol
loss The stock speCulatOr finds that
in an hour he has profit Of say $40,
600 which he may take; the next houl
the profit Is all gone, the next he see.
; a loss Of 81, 500, and 1T night be quit:
the market full of anxiety with pTo5
ably a loss Of $500 to commence tn,
next DAYS watch Of fluctuations
But added to these daily and norma
fluctuations there is the effect o
panics. which usually occur at the Cnl
Of protracted season Of prosperity
and the profits Of weeks are hOpeiessly
swept away in an hour. Now ! thinl
if were a medical man | should no
be afraid to express the belief tha
quick transition from a Panama SUI
bath TO Dakota blizzard would havD
a tendency to produce colds and if E.,
victim had weak lungs it might natur
ally end in phthisis pUlmOnalis, unleS
death occurred from shock and gave
more speedy exit In the same way
reasoning a priori, j would alway
: guess that nervous man would com
out of a series Of panics with shatteHc,
nerves. This reasoning is well backe'
: up by the record of men in activ
speculations whom | have know
within the last twenty-five years
Among the so called successful me-
probably the wealth which other
covet mag have been bought at to
dear a cost, even If corrodiug care ca
ever be paid for by money. Brook
i:1 EsIgsr-.