The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1895-11-16
ANoBJECri EssoN IN FufuREs,

Ex-senator Patrick Walsh writes an
interesting and pointed editorial IN nus
paper. the Augusta Chronicle, on the
dangers of futures" giving the fol-
lowing incident accompanied by wise
admonition, that we commend to any
readers who have been INDUCING IN
future speculation, particularly to any
who have happened to get on the
wrong side of the market:
Years ago, Judge Sam Rice. That
witty man who once declared that
.Southerners could whip the Yankees
with popguns," and after the war,
when INVITED with it, said: 1--WE could
have done it but they would not hght
that way was beguiled like many OF
his fellow citizens into cotton future
speculation.
We remember how the whole town
went wild over the gamble, and, 1of
a time, money was made there. ne
Judge raked in his pot, pretty Dig
one. and fancied no doubt, that an
other JAY Gould had arrived. His
city was too small for man OF his
financial genius and he went to New
York to beard the tiger-the money
devil-in his lair" Previous to ms de~
partlre. he had been persuaded TO
make over the bulk of his winnings,
very snug sum, to his wife. He had
not been long in the metropolis before
he was literally cleaned out. He tele-
oranhed to his wife to send him good
" amount of currency for further eN-
hn [.
and she was disposed to crafty HIM,
but a wise friend dissuaded and babe
her remain firm in refusal. Presently
the Judge, finding his eloquence tele-
graphically vain, mildly requested
money enough to purchase railway
ticket for the return trip. inns was
accorded and Ibis honor" quite CON
yinced that he was neither jay Gould
nor John Inman, sought his domestic
sanctuary. That nest-egg tuna SO
sedulously and prudently put out OF
his reach, proved a salutary blessing.
If a man should determine to take
a fly" and happen to succeed, let MN
invest it, if out of debt, with his Wife
beyond recovery, or, if he be bache-
lor, entrust it to some honest friend
who can say No with a big"N," when
the Jay Gould delusion is in its acute
stages. But best of all is it for men
to refrain from betting the money
devil their heads" when New York
and Liverpool dealers are on the war
path for Southern scalps.
It is an accredited maxim that the
man who bets the devil his head is
always sure to lose the wager. If all
the men at the South who have lost
their heads" in these future dealings
could be arrayed in one mass, what
host it would be- And yet the lesson
Of disaster has to be periodically re-
told.
Mississippi farmer, with keen
sense of the humor in his own "fieec
ing" relates his lamentable expert
ence in this fashion in the Greenvilie
(sliss.) Times:
81 went to town on Monday and had
all my cotton sold to a bloody British
buyer, who told me not to hold it. Then
/ met Greenville bull, who was plung-
ing round the town, and he told me
was wrong, for it never would go
down; that a fellow down in New Or
leans-they call him Crazy Pete--had
said he'd send it To eleven, and never
would be beat. So / stepped into a
bucket shop, and watched it's steady
rise, as it mounted till / surely thought
twas going 10 the skies. Then ] took
my thousand dollars, and / bought
thousand bales, but / hadn't more than
done it when rock fell in the scales.
They marked it up, and marked it
down, marked it back again, and my
head began to spin until | thought I'd
go insane. She fiickered and She flop
ped, and she twisted and she bobbed
and / saw my pile agoing and knew
that I'd be robbed; so / hollered to
the broker, just as loud as / could
shout Sell thousand quick to
cover" and he said, Your margins
out"