Jamestown weekly alert. [volume] (Jamestown, Stutsman County, D.T. [N.D.]) 1882-1925, 1892-02-11

among the number were seen many from
North Dakota. JIG. B.
WORSE THAN TIE Lottery.
the Interests OF the Country Than
the Louisiana Monster
While strongly favoring Legislation
that will suppress grain gambling, Igna-
thus Donnelly is not inclined to believe
that the Washburn bill. is the best
method to accomplish the great reform.
He does not believe the evil can be rene
died by licensing it, which the Washbu.n
bill does. and which gives an opportunity
for the buyer and seller in all deals to
stand by the trade, in honor bound.
Donnelly says ':you might as we'll try to
catch a flea with pair of tongs as to
punish Chicago option dealer by any
such clumsey device as the Washburn
BILL" He believes the bill would only
make illegal what is now legal and shut
out small operators, leaving the bust
ness in the hands of few TO control and
combine against the market Mr.. Don
nelly says:
No, the thing 1s absolutely and essen.
TALLY wrong. Prohibit 1t and punish it
then as you do larceny or arson or high
way robbery. Confne dealings in wheat
to those who buy it to grind into -four,
or to chip to foreign countries. II any
man desires to buy wheat to hold for
rise in price, require actual delivery of
wheat or elevator tickets to accompany
the transaction. II any man offers to
sell wheat for fnture delivery at less
price than the then market price, such
offer shall in itself constitute 4 violation
OF law and send the guilty party to
prison. Hands of the farmers and give
them fair show for prosperity. Their
success means the greatness Of the nation
and the we'll being Of all the people.
Mr.. Donnelly further explains in his
clear cut and direct fashion how this
option gambling is hostile to the in
terests of the men who produce wheat,
and why it should be summary stop
PED.
"Option dealing, where neither party
contemplates the actual purchase and
delivery of an article, ls mere betting
upon prices at time agreed upon, and
ls unquestionably gambling, and as such
should be prohibited by law, state and
national. It is q greater evil, thousand
fold. than lottery dealing.
But it will be said that such betting
on future market price can not be in
furious to the farmers, because every bet
that the market will be low presup-
poses another bet that it will not be
lower, and thus the contending forces
equalize each other and the real value is
determined. This would be true but for
a we'll known principle Of human nature,
to-wit: 1T IS always easier to create
distrust than to inspire confidence. Con
tidence,' it is said, is plant of slow
growth, while panic will sweep the
bravest armies into ignominious tilRht."
Capital is proverbially timid, and it has
been said there is DO greater coward than
man with s1,O0OOOO, unless it be man
with s2O00,O00. You can frigbten capi-
tai much more readily than you can
reassure it. The wise man knows he can
nearly always count upon his fears
coming true, and seldom upon his hopes
being realized. Hence the bears al
ways have an advantage over the bulls
based on the fundamental nature of the
human mind; and hence option dealing
tends TO break down the price of the com
modities IN which it deals. Is it wise for
the nation to permit thousands of its
wealthlest and shrewdest citizens to
spend their energies and very lives de-
vising means to frighten legitimate oper-
ators and break down the market price
of great commodities on which depends
the prosperity of those who produce the
real wealth of the world? Is there any
necessity for such speculations? 1t Is
not required to fix the price Of boots and
shoes, or dry goods, or drugs Why
should not the price of wheat, corn, cot
ton, etc, be left to the adjustment of
those who have such articles to sell and
those who need them to use? Why
should non on-producing element be per.
mitted to interpose itself between the
producer and the consumer and fill the
world with lies and tricks to unsettle
values and impoverish honest labor? NV
own judgment is that little judicious
hanging would purify the business at.
mosphere and add prodigionsly to the
prosperity of the whole people"