THE GAMING INSTINCT.

Taranaki Herald, Volume LIX, Issue 143520, 8 June 1911, Page 5

THE GAMING INSTINCT.

WOULD STATE LOTTERIES TURN IT TO A HEALTHY USE? An ingenious argument in favour of the institution in England of State lotteries, as on the Continent, is worth quoting from “Newamn; A Socialist Romance,” by Edward G. Herbert. Sir Philip Ledingham, a captain of industry, is talking to Ins Socialist son Frank, and points out that the do not save because it does not seem worth while. “‘Suppose a man has saved a sovereign—what can ho do with it? Invest it at four per cent. ? ‘ There are no such investments for small sums, and even if he could find one, the only result would be that after waiting a year, he would receive in interest 9Jd —not enough fur a day’s beer. It is not an attractive proposition. The thing to make it attractive is—a lottery.’ “Frank hurst out laughing.

“ father, you do astonish me. Y'ou have been raging at the workers for putting their money on:horses, and now you advise them to put it in u lottery.’ “ ‘Y'ou see, I am a betting man myself,’ said -Sir Philip. “ T have never Known you to make, a bet in my life.’ “‘Y'ou little know your father, Frank. I have just fixed up a big bet with a man in London. He offered to bet mb 609 to one that my .works would not bo .'burnt down this year-.. 1 took it on. My stake £IOO, Ins £30,000; -If the works are burnt down I get his stake; if not, he gets my £loo.’ ‘•‘iiali! you mean fire insurance.' “‘Exactly; but it is betting all the same. Then I put £IOOO on that patent pump of Thomson’s, and lost it. I put £ISOO on the patent suction apparatus, and have got it back several times over. Every business'man is constantly staking money on one thing or another. It | gives zest and interest to life, and is a principal factor in all ’industrial progress. But with the workman it is different. At 23 he gets his sccioty wage, and for the rest of his life he can hope for nothing more. He is almost certain to be comparatively poor all his life. His gambling instinct is just as strong as yours and mine, and he in; dulges in it in the only way open to him, by betting on horses and losing his money Then he turns to Socialism' as a short cut to someone elte’s mono-". I say, give him a lottery.’ , ' ■ “ ‘And if he loses his money in that, will he be anybetter off ?’ “ ‘He could not lose his money. The lottery would have to give guarantees of solvency, as in the case of an insurance company.. It would borrow money at, say, three per cent, in sums of £2; two per cent, would he paid in interest, and one per cent, in prizes, to he drawn for periodically. The lottery company would invest the money at a higher rate of interest, and so make a profit (as in the case of a bank). The bond-holder cannot lose his money. He' can sell his bond at any time. He gets interest for his money, and he has the chance of winning a. pr’izoj and becoming, comparatively, a rich man, which at present is in mest cases impossible. Most important of all, ho gets the habit

of saving, and has at his command a sum of money, Which lie is tempted to squander,, but can use in case of need.' “ Tt would be fostering the spirit of gambling.’ “ ‘Most emphatically no. The spirit of gambling is there. Our wise legislators try to stamp it out by worrying the bookmakers, and gambling goes on increasing year by year. If legislators wore not incapable of learning, by experience, they would have found out by now that you canot stamp out a natural instinct by making laws about it; yon may turn it to a healthy and beneficent use.’ ”