Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1906-08-31
BUCKET SHOP GAMBLING.
This Method Is No More Fair Than Is
Poker.

4
Poker.
Editor Yorkville Enquirer.
I've just read your strong editorial
on future gambling reproduced In the
Cotton Journal on the evil of future
speculatiohs or bucket shop" gamb-
ling. Keep this subject agitated. 1t
is disgrace to South Carolina, that
these gambling hells should be al
lowed to run end rob our people Of
millions
The regard which the courts Of our
own state have for bucket shops Is
well expressed in the language OF JUS
tice Blanchford, who wrote the opin-
ion in the case Of Cunningham VS.
National Bank of Augusta In this
case the bank discounted a note
which was given to the bucket shop
and sued on by the bank. Cunning-
ham, who gave the note, filed his de-
tense and set up the fact that the
note was gambling debt and could
npt be collected from him. The
btnl claimed to be an innocent pur-
chaser without notice of the consid-
Grafton OF the note sued on and
claimed that 1t was protected as an
innocent purchaser. The court holds
that notwithstanding the fact that
the bank was an innocent purchaser
without notice. 1t was a gambling
transaction and debt based upon such
a transaction could not be collected
even when It was In the hands OF an
innocent purchaser without notice.
Commenting on this case the court
used the following language:
Cunningham vs.. The National Bank
Of Augusta: II Ga, 403: But what
is the transaction termed " futures?"
II Is this; one person says that 1 will
sell you cotton at certain time In
the future for CERTAIN price; yo..
agree TO pay that piice, knowing that
the person you deal with has no cot
ton to deliver at the time. but with
the understanding that when the time
arrives for delivery you are to pay
him the difference between the mar
ket value Of that cotton and the price
you agreed to pay, II cotton declines,
and IL cotton advances. he Is to pay
you the difference between what you
promised to give and the advanced
market price. II this Is not specu-
iation on chances, q wagering and
betting between the parties, then we
are unable to understand the trans
action. A betting on a game OF faro,
Drag or poker, cannot be more haz-
ardous, dangerous or uncertain. In
deed, IL may be said that these ami
mails are tame, gentle and sub
missive. compared to this monster
The law has Gagged them, and driven
them to their dens; they have been
Ioutlawed, while this ferocious beast
has been allowed TO stalk about In
open MILDLY, with gilded signs and
flaming advertisements, to lure the
unhappy victim TO It's embrace OF
death and destruction. What are
some of the consequences OF these
speculations on "futures?" The
faithful chroniclers of the day have
informed US. as growing directly out
there have been bankruptcies, defal-
cations of public officers. embezzIe-
ments, forgeries, larcenies, and death
Certainly no one will contend for one
moment, that a transaction fraught
with such evil consequences Is not i'm
moral. illegal and contrary to public
policy"
1 was instrumental In the passage
Of the recent anti-future law In this
state. There II a moral wave sweep
| ing over the entire southern states,
and believe that 1t Is just ques-
ttion OF time when all rexchanges%
must leave thessouth. It IS the inten-
ton OF several of the "exchanges" In
Georgia to move to South Carolina.
You are already burdened and this
addition will make the burden even
| greater. arouse all the sentiment
you can against the evil and force
your Legislature to enact laws that
will abolish the system, In so doing
you will perform patriotic duty to
your state. am concerned about
South Carolina because IL Is my
birthplace. Very truly,
JOHN A BoYKIN.
Atlanta, Ca. August 20.