Stock gamblers of very small capital, often have contracts pending, of many hundreds of thousands of dollars—they sometimes operate for a rise, sometimes for a fall, of prices. In the first case they buy deliverable at a future time, at a certain price. In the second, can they sell in the same way. And, in either case, their profit or loss depends on the rise or fall of the stock bought or sold; as, indeed, all their profits do; for there is no such thing as a dealer’s profit for the labor and risk of distribution, as in merchandise. The whole process is a mere betting upon the future value. In this way, it will be seen that the number of chances for gain or loss is just doubled, as compared with dealers in merchandise, who always get what they buy, and sell only what they have got. They frequently make a condition to their time-contracts of “buyer’s option,” of “seller’s option,” which means, that the person to whom the option is given, may, at any time within the period of the term of sale, by giving one day’s notice, call for the stocks, and this enables them to take advantage of any temporary fluctuation which may happen, or which the parties interested may be able to create. These circumstances easily explain the reason why fortunes are often so suddenly made or lost in stocks. No system could be devised better calculated than this is, to excite a gambling propensity, and afford an opportunity for the exercise of ingenuity and cunning. “But,” said my friend, “lest I should weary your patience, by too much generalizing, and seriousness, I will inform you how Mr. Tell-it got out of a bad speculation.” A NO. 1. CHARACTER. Mr. T. is a regular descendant of Mr. Jacob Broker, of the seventh generation, and one that does honor to his ancestral renown. No greater contradiction of terms can possibly be used, than exists between his name and character, for he was never known to tell a thing that he knew, however trifling. His conversation and answers are wholly by interrogatory. When asked at what price he will sell, his answer is, “what will you give?” and he never commits himself in a promise, without first receiving a promise of another, or, what suits his taste much better, something tangible in its stead. This peculiarity of mind has led to one great virtue, to which I bear willing and honorable testimony—he was never known to tell a lie. If people take false impressions, it is because they assume false premises—if they indulge in wrong opinions, it is because they have not been diligent enough in search of truth—and, as he is a competitor for the great prize of life, he cannot spend his time to correct other people’s deficiencies. HIS CHARACTER.