Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1920-07-08
GAMBLING.

Some time ago a correspondent wrote us dis
uuiston on gambling. Not knowing at the time,
the name of our contributor we laid it aside. HaV-
ing since received that information, we today pub
lish it, as having literary merit and as stimulating
thought, although quite disagree with its INFER
We do not accept the challenge to give clean
cut and comprehensive definition of the infinitive
to gamble" Probably the line of damarcation is
too dizzy to exactly place it. Perhaps some of our
readers will try their hand at it.
Many of the activities he suggests are not gamb-
ling because there is no element of chance-t is
"a cinch" that the investor will lose.
But there is a fairly clear distinction between
gambling with mechanical devices and mere spec
ulations. To begin with, the former is INDUCED in
as an appeal to the sporting instinct desire to
get something for nothing Nothing new of value
is created or made available The thing of value
merely changes hands. Its availability as medium
for separating the sucker from his money is a
convenient and perfectly courteous way to commit
highway robbery. Therefore a sound public policy,
which requires that the law protect the weak and
unsuspecting from the strong and the designing, is
compelled to put the brand of crminalty upon all
such devices If it, thereby, puts an end to com
paratively innocent pastme of some gentlemen, they
should bow to the necessary law and not become
yioators of it.
However, the where it is an innocent pas
time are rarer than most participants will admit,
1t makes working for money irksome, deprives fam
lilies of needed funds and destroys stability of char
acer For the good of all it must be frowned upon
by the law.
The making of investments at present values in
the belief that profit will result is quite different
matter. To the degree in which the gambling spirit
enters into it, it becomes hazardous and therefore
foolish and reprehcnsbe. The law attempts to
deal with which approach toward pure
gambling.
The time will probably come when the world will
look with disfavor and perhaps will outlaw, invest
ments dependent for profit upon the unearned
increment'-that is. upon profits made because of
the activities of the whole community instead of by
the energies of the owner Many political econo-
mists inveigh against it already as immoral. Today
regard it legitimate.
Specializing on margins that is by paying
small per centum of the value down with the ex-
pectation of either losing that margin collecting
the difference of increased value, is gambling, pure
and simple, of the most reprehensble type and
should be outlawed. Not many years will pass until
it is forbidden by law.
Gambling" with nature in effort to compel
her to yield up to us her wealth in crops or oil or
minerals lacks the elements of a pure gamble
Added wealth is produced or made available. 1t is
not a mere passing of wealth from mans hands
to anoher's
We may plant crops dig for mineral drill
for oil, without using wise judgment and thereby
lose from lack of foresight account Of foolish
daring. The per cent of hazard, sometime, is not
properly weighed Chance, not industry becomes
the major element.
Any business in which industry sobrety, fore
sight integrity and a spirit of service not the
dominant elements, is foolish, reprehenshle and un
worthy.
These characteristics. with will to venture on
Judgment, instead of upon chance, make the great
business
To class Rockefeller a gambler is absurd. The
economic laws which made him succeed are so plain
that all can see.