Rensselaer Republican, Volume 12, Number 45, Rensselaer, Jasper County, 30 July 1880 — "Bucket Shops." [ARTICLE]

"Bucket Shops."

It i»Ma the vhola story ; Let M now enter one of thtaa fps* anil otltHl wtmparttjyp|y poorand pitting in chain, in long rows facing the blackboard*: some •wearing and spitting tobacco juice on the Root, other* pleasandy smoking and chatting in groups; others still, silent isolatea and anxious. Before the blackboards, cm a raised platform, Is a telegraph operator and a marker. As the quotations oome in from the halls of the chamber of commerce every few seconds, they are called off in a load voice, than

put on the board, and also in a book which is kept by a man at th* clicking Instrument. This is for the grain and pro vision department of the concern. On the other blackboards are placed the stock quotations which come direct from New York, and not quite aa frequently. Behind the desks stand a lot of clerks, keeping an account of the transact! fins, and working away like beaver*. Quito an elaborate process of book-keeping Is indulged in, that no blunders may be made, and it sometimes requires several hours to so straighten matters out inside that a successful operator can get his money after closing his deal. Money is changing hands rapidly and constantly daring the hours of business, and at the dose some go away smiling and happy, haring been successful in winnings few dollars, others depart moroee and mad on account of alleged ill-lock and- losses. Hie fascination of this game of chance is absolutely terriflf and enthralling. When the markets are lively and fluctuations are rapid, a man can double his money in a few minutes or lose it altogether. The bank generally deals openly with its customers, and gives them every opportunity for investing to their hearts’ content, well knowing that their victims will guess wrong three times where they will nit it twice, taking the transactions of the day through. The bank can well afford to allow the operators full liberty in trading, and profit only by their mistakes. Such is the unqualifiedly total depravity of inanimate things, as well M persona, that every advantage may bd given to a man to guess right, and then, in spite of experience, observation, and their beet endeavors, they will inevitably guess wrong ana lose five times where they gain three, taking the week or month through. A man goes into one of these backet shops, makes a venture, becomes elated and excited, visions of untold wealth dancing before his mind’s eye. He goes on, very soon gets “stuck” in some unfortunate deal, his money slips away from him before he knows it, he grows desperate, advances large sums, lea on in the hope of getting back his losses, and generally keeps the game up until he finds himself “clean scooped out,” when he is forced to quit or raise more money. This is the general experience of hundreds upon hundreds of poor fellows who have gone into these gambling dens buoyant and hopeful, and have come oat penniless, disneartened and wretched. It may be asked : “Does not any one make money by speculating?” and the answer is: Yes, a few are successful, and carry away handsome sums, bat in the long run ninety-five out of every one hundred who follow it steadily lose more than they make. Some days will be field davs for the operators, other days will be '‘Black Fridays” for them. The markets are so changeable, the influence that moves them np and down so occult and capricious, that no person can tell what an hour may bring forth. Every move ia emphatically a move in the dark; yon may strike terra firms and yon may go down into the pit. Every one having any considerable amount of experience in these shops will declare that the business as a whole is demoralising and damning in every respect. It unfits a man for regular ana steady work. It uses a man up nervously and mentally. It breaks up the very foundation of honor, honesty and integrity in* his character: It makes him irritable, peevish and reckless in his habits. It leads to drinking, swearing, and a score of allied vices. The agony of. soul which a person, losing money in these games of hazard, experiences leads him to corse God, himself, the markets, and every thing else. It drives men to the verge of insanity. It makes men act more like maniacs than rational and intelligent human beings. The very fact that the business is entirely respectable and legal, and that very good Christian persons are engaged in it, only adds fuel to the flame. If the whole business was outlawed and illegal, there would not be half the danger m it. Morally and financially consulered, the worst spot in Chicago is that square bounded by Washington street on the the north, Clark street on the eact, Madison on the south, and La Salle on the west.