Tombstone daily prospector., 1891-02-28
4 LIFE OF SPECULATION. i
Nerves Shattered by Gaining oi. 600 One
 Hour and Losing It the Next

"oaA anu L1sthS ht the NexI
 The following question was recently submitted to the Hon. Stephen Van Cullen White. whose reputation as a hnancier and Wall street railli< naire Is of national fame.
 What effect in your opinion and from your opportunities of dissertation has life of speculation upon the mind, and through it upon the nerves and body of mani By speculation is here mes At especially dealing m 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 6 volume in reply and then not ex- haust the subject It is a question more suited to medical practitioner 'sho has had stock exchange ;lientage than to one of the victims But as you honor me by your inquiry with an implied expression of the be- lief that l may know something to in. terest your readers, l will speak as from the pew and not the pulpit upon your text All business in which man buys more than he needs for his use and for the use of his family i, speculation, and there is an 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 a speculator, and one who buys OF credit is always in more or less dan ger of failure in business. Whoever has business risk has anxiety till the prospective outcome has made itself clear. Then, if pr,specuvely the ven ture Is to become successful, what was anxiety becomes in part exhilaratior at success, and if loss is developed actual or prospective, the anxiety ano care are increased. All mental anxiety tells on the nervous system. If IL IS great enough to cause sleeplessness il 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 lor.g time defy anxiety, whether ii is chronic or acute Now, the only diff ference between stock speculation on the exchange and a country stor upon invoice of general merchanC ise Is that the amount bought or solC in stocks Is generally larger Tn Ipor- ton f" S.rital employed, and. more important still, the stock exchange prices furnish a constant barometer by which that speculator can con stantly measure his losses or hi' profits, while constant fluctuations all of which he notices, keep him ( constant pendulum between a smil, and tear. If a merchant goes into business on s1o,O00 he can buy iron Sl5, ,OOO to S25, GOO worth of goods | If a speculator goes in with Sl0, 0O0 ks | can buy sl00, 0OO worth of stocks. The merchant wants two to four month: | before be can estimate his profit oI loss. The stock speculator finds thai in an hour he has profit of say SiO, i 900 which he may take; the next houi the profit is all gone, the next he see: 1 loss of sl, 800, and at night he quit! the market full of anxiety with prob ably loss of $500 to commence th' next days watch of fluctuations But added to these daily and norma ! fluctuations there IS the effect O | panics, which usually occur at the cnC i of a protracted season of prosperity ! ' swept away in an hour Now thini l if were a medical man l should no
 be afraid to express the belief tha 1 quick transition from a Panama sui
 bath to Dakota blizzard would hay,
 a tendency to produce colds and if IL
 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, l would alway
 guess that a nervous man would com
 out of a series of panics with shatter'
 nerves. This reasoning Is well backe,
 up by the record of men in activ
 speculations whom I have knowl
 within the last twenty-five years
 Among the so called successful me-
 probably the wealth which other
 covet mas have been bought at to
 dear cost, even if corroding care cal
 ever be paid for by money."-Br"os
 iJn EStgI-.