The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1892-11-25
THE OPTION GAMBLER'S ARGU-
MRNTS
From the Iowa Homestead.

Opposition to anti-option legislation is
chiefly remarkable for two things, name
iy, the activity and virulence with
which it is carried on. and the fallacious
and sophisticai arguments adduced to
support it.
The activity and virulence with which
the present Ubiquitous system is de-
Tended is easily explained. ''There' $
millions in it." Wheresoeyer the car
cass is, the buzzards come. No vice has
ever been so vicious that it has lacked
defenders, provided the vice pays. Nor
is it difficult to see why the arguments
by which the option dealing is supported
are necessarily fallacious and sophistical
in their character. No system that is
wholly bad in morals, as well as in pO-
litical economy can be supported by any
other kind of argument, and hence sound
reasoning cannot be expected from its
advocates.
They may be classed as two kinds
the transparently bad and the seemingly
plausible-the difference being that the
latter aim to confuse the general public,
who are not familiar with the details,
and the first do not.
We are told, for example that tie crops
could not be handled if the bill prohibit
ing option and future gambling were to
become law. just how or why this is
so we have never seen explained, al
though we have patiently waded
through quite number of elaborate at
tempts at an explanation. Before gamb-
ling methods came in vogue there was
no trouble in marketing the cereal and
textile crops in any quantity by a salts
factory method. Why not, now? 1t
should be noticed that it is only few
things that are gambled in and almost
uniformly there is more dissatisfaction
than those on which the gambler can
not get his hands. There is no gambling
in hogs, and yet we sell $3.50, 000,0 goo
worth of them. Why should there be in
cotton, worth but little more in the az
era gate? There is no option selling In
hay, and no one grumbles at the market.
Whv should there be in wheat? Our
butter is worth about twice as much as
our bread. We are told that wheat
must be gambled on or it cannot be sold,
vet the flour goes into the bake oven
without the gamblers assistance. On
the other hand. the hogs 90 to market
without his assistance, but he must have
his hands on the procucts. Who be-
Iieves such an absurd pretense! Dur
ing certain ten days in 1890, tabnlated
in a speech delivered in this subject in
congress at the last session. the New
York market sold 337 800 bushels of &C
tual wheat and 3 zoos bales of actual cot
ton; during the same ten days there were
sold in the same market 125, 720, 600
bushels of wind OF fictitious wheat and
eSt All h., los of ,,lf.a nnar
any sane man suppose that these So
called sales of 312 bushels OF fat W hea.
to each bushel of the actual product &C
tua.lv sold. contributed in the slightest
degree to the sale of genuine wheat? Or.
does a,ly one believe that this gambling
to the extent of 2i3 bales Of fictitious
cotton TO each bale of actual product
sold, in any degree aided in the sale OF
the bale that was sold: Every one who
has given the subject the slightest
thought and Is capable of linking two
ideas together in logical sequence
knows that the reverse Is true
that it, instead of aiding in snch
sale, DISTRACTED it aud reduced
the price obtained. 1t Is
perfectly clear also that had there been
a strong combination of capital ready 10
hold up the price of the wheat and cot
ton. in the New York market against
the efforts of these market wreckers, it
would have been obliged during that
period of ten days to have purchased not
only all the wheat and cotton actually
sold. but nearly 400 times as much Wind
cotton. and as much more as the mar
ket wreckers had the nerve to offer.
And putting actual products in this sit
uation they call helping 10 sell it, 1t
Is not, it is helping to give ii away. when
they don't own IA btShel OF bale of IL
Instead of this gambling system being
necessary TO the sale OF products. it Is
a fact that not only by far the larger
portion in quantity and value of the
products of this country are soli without
ii, but that even Of those subject to this
system of wrecking, only a small per
centage is handled by the gambling
boards.
Ii is misfortune in this country that
q product can be graded In order that