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Is It Not A Crime?

Is It Not A Crime? image
Parent Issue
Day
16
Month
September
Year
1881
Copyright
Public Domain
OCR Text

Of coiirse the people of the United Sutes -j u i m ¦ - j - k n - ¦¦' - .-.„. this year luis not yielded as well as it hw for the three previous harvests. There has certainly been a large decrease In the nnmber of bushela, yet the quality is reported as superior, which, with the priee it would naturally advance for such reasons would fully compénsate the farmers for the dimiuution in quantity. But there is another class of people wlio also fully undei'stand the situation: the 8peculator8. A few of these individúala, having or controlling immense suma of money, get together and buy up this cereal in great quMititleB. Thcn they go to work and créate an impression, by well v ritten articles in the leading newspapers of the country and by othcr methods well known to them, that the seareity of this life sustainint; cereal is niucli greater than it really ia, By sharp articles and dexterous manipulatiou of speculating wires they "buil" the market; that is, they run the price up they "unload," or sell, oflen clearing immense fortunes - millions of money - by a single transactiou. Of oouwe those that hiiy when the market is up are intervBtei in keeping it at the highest figure posible so the consumer has to my the sixjculator's prire. lf none but speculators suflfcred from this pernicious habit of gambling, no one would care particularly. But the hardworkin masses have to suffer. Every laboring man is a w cal Ui producer, and by robbing him in forcing liim to pay tictitious prices for the necessities of life, money is accumulatal in jíreat quantities in com mercial centers witli wliich to buy p the tapie produets and forcé the prices up. People seldom stop to consider that for every fortune made in speculation there is one or more lost. We hear of tlie former, but not of the latter. Sometimes one man will sweep away the money of many men, which accounts for the large fortunes uow being accumulatcd by suth men as Jay Gould and others of bit ilk. Speculating is only a polite name for gambling. 'l'lie iieculator is worse than a ifambler. The man who deliberately sits down to play and stakes bis money knows the risk he runs and takes his chances. The speculator, by forcing the price of cereals and breadstuffs up to a fletitious valué, roba every hard working laboring man iu the country - under cover. Wheat to-day is much bibber than t would be'had speculators let it alone, and every penny paid in advance of the natural price, is a tithe paid by onr people to support gamblers in iillonesa. So we repeat our question : Is spcculating not a crime F

Article

Subjects
Ann Arbor Courier
Old News