century, which, under the "Option, Future, and Warrant" systems, have reduced the basis of both to a mere gamble. It matters not to me what religion, creed, or nationality these men may be, or whether the Capitalists be Jews, Gentiles, or of any other race. But, in dealing with these international subjects from a world's point of view, whether during the old historical times or during the present century, it is impossible to dissociate the fact, that the Hebrew race all over the world have played an important factor, not only in introducing and reintroducing these pernicious systems, but also in showing their masterly conception of them, over other races. TRUTH. It fortifies my soul to know That, though I perish, Truth is so: CHARLES W. SMITH. Address-HOTEL D'AGLION, BOUVERET, SWITZERLAND, March, 1906. INTERNATIONAL GAMBLING IN "OPTIONS, Futures, and War- RANTS (MARCHÉS À TERME): THE ECONOMIC RUIN of THE ROYAL COMMISSION ON SUPPLY OF FOOD AND RAW THE INTERNATIONAL AGRICULTURAL Congress at Rome, 1905 THE INTERNATIONAL CONGRESS OF CHAMBERS OF Commerce 59 91 THE "WORLD'S" PRINCIPAL FINANCIAL AND COMMERCIAL PANICS SUMMARISED, 1866-1906 LIST OF PUBLICATIONS BY THE AUTHOR SINCE 1891, ON "INTERNATIONAL COMMERCIAL AND FINANCIAL GAM- INTERNATIONAL COMMERCIAL AND FINANCIAL GAMBLING IN "OPTIONS AND FUTURES" (MARCHÉS À TERME): THE ECONOMIC RUIN OF THE WORLD. THE ANCIENT (1200-1860) AND MODERN (1862-1906) SYSTEMS OF GAMBLING IN TRADE AND FINANCE. In olden times there appears to have existed, in certain towns on the Continent of Europe, a system of gambling both in trade and in finance, most notably in Hamburg, Bremen, Lubeck, Frankfort, etc. These were Free Towns, and then formed principalities of their own. They were mainly under the power and influence of the Hebrew race. The form of gambling was the "forestalling" of farmers' crops and the gambling in the public funds and in stock-jobbing. Such transactions were called "time-bargains." The operators were christened "forestallers" and "regraters." G. B In all European countries laws existed which treated all such operations as illegal. The penal clauses were imprisonment and heavy fines. These laws were passed to protect trade, consumers, and finance. For example, in Great Britain, there were both common and statute laws from 1216 to 1844 with regard to gambling in agricultural products. These laws were repealed in the latter year. From 1734 to 1860, Great Britain had what is termed "Sir John Barnard's Act." This law was against gambling in the Funds and also against stock-jobbing. It was repealed about 1860. About the year 1860, certain similar modern systems were reintroduced by the Jews into various Continental countries. In 1863 they were introduced by the same people into the United States of America, and a year or so afterwards into Great Britain. They have gradually been extended to many other countries, most notably Canada and Egypt. The modern forms of gambling consist in the "forestalling" and in the gambling of agricultural produce, metals (including silver), etc.; also gambling in the funds as well as in all stocks and shares, as registered" in the world's Stock Exchanges. The names for such gambling contracts in the United States and in Great Britain, were "options," "futures," and "warrants." In Continental countries and in Egypt these were styled time-bargains or marchés à terme. The operators were called "bulls" and "bears." |