The Delta independent., 1901-06-14

gets his commission on one style OF
goods. You, the grocer, get your COM
mission on another style of goods. The
dollar that he makes is just as bright
and fair and honest dollar as the dol
lar earned by the day laborer. But
here we must draw the line between
legitimate speculation and ruinous
gambling. You. a stock operator with
out any property behind you. financial
ly irresponsible, sell 500 Of nothing
and get paid for It, You sell 100 shares
at $4,000 at 90 days. II at the end Of
80 days you can get the scrip for $1,000.
you have made q thousand. II at the
end Of 30 days you have to pay $1l 900.
then you have lost a thousand. Now
that is trafiicking in fiction: that is
betting on chances; that involves the
spirit Of gambling as much as anything
that ever goes on in the lowest gambl-
Ing hell.
Historical Gsnbling scheme.
But France must have its gambling
expedition. and that was in 17l6. John
Laws Mississippi scheme. 1t was call
ed. The French had heard that this
American continent was built out OF
solid gold. and the project was
to take 1t across the ocean and
drop 1t in France. Excitement be-
yond anything that had yet been
seen In the world. Three hundred
thousand applicants for shares. Ex-
element SO great that sometimes the
mounted military had to disperse the
crowds that had come to buy the stock.
Five hundred temporary tents built to
accommodate the people until they
could have opportunity Of interviewing
John Law. A lady Of great fashion
had her coachman upset her near the
place where John Law was passing in
order that she might have an interview
with that benevolent and sympathetic
gentleman. Stocks went up to 2.050
per cent. until one day suspicion got
into the market, and down II all went
John Laws Mississippi scheme
burying its protector and some of the
greatest fipanciers in all France. and
was almost as bad as French revolu-
ton
sedate England took its chance in
ITO. That was the South Sea bubble.
They proposed to transfer all the gold
Of Peru and Mexico and the islands of
the sea to England. Five millions
! worth of shares were put on the mar
ket at Es00 share. The books open.
in a few days II was all taken and
twice the amount subscribed.
Excitement followed excitement un-
I'll all kinds of gambling projects came
forth under the wing Of this South Sea
pany formed with great capital for pro-
viding funerals for all parts OF the
land. Another company with large
capital S. 900, 600 OF capitalize de-
velop a wheel in perpetual motion An
other company with a capital OF ga
900 900 to insure people against loss by
servants. Another company with e.
500 900 capital to transplant walnut
trees from Virginia to England Then.
to cap the climax. a company was
formed for "a great undertaking. no
body to know what II is'' And, 10.
G6O0. 900 in shares were offered at
E100 a share. Books were opened at
3 o'clock in the morning and closed at
o'clock in the afternoon, and the FIRST
day II was all subscribed. "A great
undertaking. nobody to know what
It ia"
The Largest s~iadis>
But Il was left for our own country
to surpass all. about thirty-seven years
ago. We have the highest mountains
and the greatest cataracts and the
longest rivers, and, Of course. We had
to have the largest swindle. One
would have thought that the nation
had seen enough in that direction dur
ing the morus mulucaulis excitement.
when almost every man had a bunch Of
crawling silkworms in his house. out
Of which he expected to make a for
tune. But all this excitement was as
nothing compared with what took
place In 1864 when a man near Titus
VILE. Pa. digging for we'll. struck oil.
Twelve hundred oil companies call for
a billion of stock. Prominent mem
bers Of churches. as soon as certain
amount OF stock was assigned them.
saw 1t was their privilege to become
presidents or secretaries or members
of the board of direction. Some Of
these companies never had a foot OF
ground. never expected to have. Their
entire equipment was a map of a re-
gion where oil might be and two walls
OF grease. crude and clarified. People
rushed down from all parts of the
country by the nrst train and put their
hard earnings in the gulf, A young
man came down from the oil regions of
Pennsylvania utterly demented. having
sold his farm At fabulous price be-
cause It was supposed there might be
oil there-coming to hotel in Phila-
delphia at the time l was living there.
throwing down 5000 check to pay
for his MONDAY meal and saying he
did not care anything about the
changs! Then he stepped back to the
gas burner to light his cigar with .
~ ANO pnsa vrttr,r,x, i,oapa