Monroe City Democrat. (Monroe City, Mo.) 1888-1919, 1907-09-26

nell, Jne working OF whose machinery
would place a selling value upon such
chips; a hell where, after selling the
chips, they could be won back. l saw
that II these tricksters were to be
routed and their System was to be
destroyed, It must be through the ma
chinery Of this stock exchange. I
studied the machinery, and presently
marvelled that men could for so
long have been asses.
From the very nature OF stock
gambling 1t is necessary, absolutely
necessary, that 1t be conducted under
certain rules, Interchangeable, unbreak-
able rules, to attempt to change or
break which would destroy stock
gambling. The foundation rule, the
rule absolutely necessary for the ex-
istence Of stock-gambling Is: Any
member of the stock exchange can
buy, or sell, between the opening and
closing of the exchange as many
shares Of stock as he cares to. With
this rule in force his buying and sell
ing cannot be restricted to the amount
he can take and pay for, or deliver
and receive pay for, because there is
not money enough in the world to pay
for what under this same rule can be
bought and sold in a single session.
This is because there have been ar
bitrarily created by these few trick
sters many times more stocks than
there is money in existence. The
amount of stock that any man can
sell in one session of the exchange is
limited only by the amount that he
can offer for sale, and he can offer
any amount his tongue can utter;
and he is not compelled and cannot
be compelled to show his ability to
deliver what he has offered for sale
until after he has finished selling,
which is the following day. You will
ask as 1 did: Can this be possible?
you will find the answer l found. 1t
is so, and must continue to be so, or
there will be no Safeguarding. Mark
me- for this statement is weighted
with the greatest import to you all. A
member of this exchange can sell as
many shares of stock at one session
as he cares to offer. II any attempt
is made at the session he sells at to
compel him either before or after he
offers to sell to show his ability to
deliver, away goes the ock-gambling
structure, because from the very ma
ture Of the whole structure of stock
gambling the same shares are sold
and resold many times in each session
and the seller cannot know, much less
show, that he can deliver until he first
cd upith the hIvnr M ht1y
cannot adjust until after he has be-
come such by buying. II rule we're
made compelling a seller to show his
responsibility before selling, eveE
member would have every other mem
Der at his mercy and there could be
no stock gambling. When had worked
this out, saw that while the few trick
sters of the System had a perfect de-
vice for taking from the people their
wealth, had discovered as perfect a
means of taking away from the few
the wealth they had secured from the
many. With this knowledge came
conviction that my way was as honest
as the SYSTEMS in fact. more honest
than theirs. They took from the inno-
cent. l took from the guilty what had
| already been dishonesty secured. l
determined to put my discovery into
practice.
Il might never have done so but for
| that Sugar panic in which l was
robbed Of millions by the System
through Barry Conant. In that panic
the System with it's unlimited re-
sources, filched from the people by
the arbitrary manufacture of stocks,
| and by their manipulation did to me
| what l afterward discovered l could
| do to them, without any resources
other than my right to do business on
the floor of this exchange. You saw
the outcome, in the second Sugar
panic, of my first experiment In a
few minutes 1 cleared a profit of s10,-
900, 900. l could have made it fifty mil
| lions, or one hundred and fifty, but
was not then on familiar terms
with my new robber-robbing device,
and i had yet a heart To make
this ten millions OF money, all
that was necessary for mo to do was
to sell more Sugar than Barry Conant
could buy. This was easy, because
! Barry Conant, not knowing Of my
newly invented trick, could buy only
what he could pay for on the morrow,
or, at least, what he believed his
clients could pay for; while |, not in
tending to deliver what l sold-unless
by smashing the price to point where