The Marlboro democrat. [volume] (Bennettsville, S.C.) 1882-1908, 1901-06-21

Ahere IL buon thlng eS o moro or tho bank
and hero Of tho Stock Exohango. You be
that hero. have not 80 m,loh admiration
for tho French empress vino STOOD in iler bai-
oony In Paris and addressed au oxoitod mob
and quolled II as have admiration tor that
venerable banker 90 Wall street who in 1864
stood on tho steps ofi;is monoyod institution
and quictod tho foars OF depositors and bado
peace to the angry wave Of commercial Oh.
citemont. God did not allow the lions to
| hurt Daniel, and no Will not allow tho
"bears" to hurt you. Romember, my friend
that all tbosc scenes of business will 500
havo passed. away, aud by the law Of God g
otornal right all the affairs Of your businoss
life will DO adjudioated. Honesty pays best
| for both worlds
| Again, havo to romark that Wall street ls
typo throughout tho country Of legitimate
! speculation on tho ono hand and of ruinous
gambling on The other. Almost evcry NOR
ohnnt Is to somo oxtont O Hpeoulator. IIo do.
| ponds not only upon tho difference between
| tho wholesale prioo at which ho gots tho
goods and tho retail at which he disposes of
thom, but also upon tho fluctuation of Tho
markcts. If tho markets greatly rise, ho
| greatly gains. If tho markets gccatly siuk,
| ho greatly loses. II is as honest to deal in
stocks as to deal in iron or coal or hardware
or dry goods. Ho who condemns oil stock
| NSo'hhSo uo thONSu .uOJ MCto Bllllp
ly shows his own ignorance. Stop all lcgiti-
mato speculation in this country and you stop
all banks, you stop all factories, you stop oil
storehouscs, you stop oil tho groat financial
pr0sporittes of this country. A stock dealer
| is only commission merchant under another
name. He gets his commission on ono style
goods. You tho grocer, got your commits
| sion on another stylo of goods. Tho dollar
that no makes is just as bright and fair aud
honest q dollar as tho dollar caruoi by tho
day iaborcr. But here We must draw tho
line botwcon legitimate speculation and ruin
ous gambling. You, q stock operator With
irresponsible, sell 500 of nothing and get
paid for it. You sell 100 shares at 81 600 at
80 days. Eat tho ond Of 80 days you oan got
the scrip for $4,000, you havo madoa thous-
and If Mt tho ond Of 80 days you havo to
pay $l 900, then you have lost thousand
Now that is raIlioking in fiction; that is bet
ting on ohancee; that involves tho spirit Of
gambling as much as anything that ever COCA
on ia tho lowest gambling hell.
At certain times almost ovory prosperous
merchant wakes up, and ho Says "Now, l
! haYo tolerablc income. think shall
go down to Wall street and treble it in throo
woeh5. There's ny assshbor. lie was in
the sama line Of busin oss IIe has his $780,
600 r$400000 from tho simple fact that he
wont into Wall street | thiuk shall 20
too Hero thoy como, retired merchants
who want 10 get littlo exoitcmont ia thor
lcthargio veins. Hero thoy oomc, tho trus
tees of great properly, to fool everything
away. Hero they como, men celebrated for
prudence to triilo with the livelihoods of
widows and orphans. Do you wonder that
sometimes thoy become insane? II ia in.
aNniIv nn h,N
of young men who arc perishing uudor tho
passion for stock gambling? DO you know
that i'll oil Christian lands this is ono of tho
greatest CURSES?
IL is not peculiar 10 mcrcuria( Americans
Oh, mol Almost every nation has indulged
in It, The lIollandors, tho most phlegmatio
people in tho world, had their gambling
seizure in 1858. II was called tho tulip
mania. II was speculation in tulips
Properties worth $500,000 turned into tulips
All the llolan nation either buying or sell
ing tulips Ono tulip root s,d for 5000,
another for 1000. Excitement rolling on
and rolling on until history tells US that ono
Amsterdam tulip which was supposed TO be
tho only one of tho kind in oil tho world
actually brought in the markets $l,8lG,00O
That is q matter Of history. Of course tho
crash came, and oil Holland wont down IN
| der it.
| But France must have its gambling OK
| pedi ion, and that was in l7lG. J3hn Law 8
| Mississippi scheme, it was called. Tho
French had heard that this American CON
linnont was built out of solid g,ll, and the
| project was to take it aorcss the ocean aud
drop it in Franco. Excitement beyond any
thing that had yet boeu seen in Tho world.
| Three hundred thousand applicants for
shares. Excitement 80 great thnt sometimes
Tho mounted military had to disporso The
| crowds that had come to buy tho stock. Fivo
hundred temporary tents built to accom-.
modatc tho people until they GOULD have op-
bortunity Of interviewing John Law. A lady
of great fashion had her ooaohman upset her
near The place whore ohm Law was passing
in ordor that eho might have an intergiow
| with that benevolent and sympathetic gentle
man. Stocks wont up to 1860 per cent uu-
til ono day suspicion got into the markot,
and down 1t all wcnt--John Laws NIissis.
sippi schemc- -bGrylng its protector and somo
Of thesc latest financiers IA all France and
| was almost as bad rs French revolution
Scdatc England took its ohanoo in 1870
That was the south seq bubble. They pro.
| posed to transfer all the gold Of Peru and
/ Moxico and tho islands Of the sea to Eng
land Five millions worth Of shares were
put on tho market at G300 share. Th o
books open, in few days it is al, takon and
| twice the amount subscribed.
Thcrc was large company formed with
| great capital for providing funerals for all
| parts of tho land Another company with
largo capital 100000 Of capital-to
develop wheel in perpetual motion
Another company with capital Of ga ,OUO,-
| OOO to insure people against loss by servants
Another company with $2,6O0,O00 capital to
| transplant walnut trees from Virginia to
| England Then, to cap the climax, q com.
pany was formed for "a great undertaking,
nobody to know what 1t is" And, 10, e600,.
600 in shares were offered at clOO q share.
Books were opened at 8 O'Clock in the morn
ing and closed at 8 O'Clock in tho afternoon.
ana the first day it was oil subscribed "a
it is."
BUTT was left for our own county to sur.
pass all, about 81 ears ago. We have the
highest mountains and tho groatest cata
racts and tho longest rivers, aud of course,
we had to have the largest swindlo Ono
would havc thought that tho nation had secn
enough in that direction during tho morus
multicaulis excitement, whom almost evory
man had bunch of crawling silkworms in
his housc, out of which no expected to make
fortune But all this excitement was as
nothing compared with what took plaoo in
1854 whom man noar Titusyilo, Pa. Dig
ging for q we'll struck oil Twelve hundred
OH companies call for billion Of stock,
Prominent members of churches, as soon as
cortain amount Of stock was assigned them,
saw 1t was their privilege to bcoome prosi.
donts or secretaries or mcmbers Of tho board
OF direction. Some OF those companieB never