The Princeton union., 1907-05-09

low themselves to be robbed of all
their accumulated wealth by device
IS simple as that by which children
play at blindman's-buh. The process
was no more complex than that en-:
ployed by the robber of old, who took
the pebbles from the beach, marked
them money, and with the money
bought the labor of his fellows, and
by the manipulation of that labor and
by turning pebbles into money he
took away from the laborer the
money which he had paid them for
The labor until all in the land were
slaves of the moneymaker. These few.
tricksters said: We will arbitrarily
manufacture these chips-stocks. A.
ter we have manufactured them, we
will sell the world what the world
can pay for, and then by the use of
the unlimited supply we still have we
will win away from the world what it
has bought, and repeat the operation,
until we have all the wealth, and the
people are enslaved. To do this there
was one thing besides the manufac-
turing of the chips stocks-that was
absolutely necessary-a gambling
hell, the working of whose machinery
would place selling value upon such
chips; a hell where, after selling the
chips, they could be won back. 1 saw
that if 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
l marve1led that men could for so
long have been asses.
From the very nature of stock
gambling it is necessary, absolutely
necessary, that it 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
foe WAat under this same rule can be
bought and sold in a single session
This is because there have been ar
bltrSrily 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 c&ly by the amount that he
can offer for sale, and he can offer
any amount his tongue can utter;
anG 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 I did: Can this be possible?
you will find the answer I found. It
is so, and must continue to be so, or
there will be no stock-gambling. 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. If 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 stock k-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
adjusts with the buyer and the buyer
cannot adjust until after he has be-
come such by buying! If rule were
made compelling a seller to show his
! responsibility before selling, every
member would have every other mem
ber 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 perfect de-
vice for taking from the people their
wealth, l had discovered as perfect a
means OF taking away from the few
the wealth they had secured from the
many. With this knowledge came a
conviction that my way was as honest
as the 'System's,' in fact, more honest
than theirs. They took from the inno-
cent, took from the guilty what had
already been dishonesty secured. 1
determined to put my discovery into
| practice.
Il might never have done so but for
that Sugar panic in which I was
robbed of millions by the System
through Barry Conant. In that panic
the System with its unlimited re-
sources, filched from the people by
the arbitrary manufacture of stocks,
and by their manipulation did to me
what I afterward discovered I 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 cleared a profit Of $1O,-
100000. 1 could have made it fifty mil