Show CONCERNING BETS New York Journal Some people with a childlike belief In Inthe inthe the superhuman political sagacity of gamblers ramblers think that because In Inthe the bet betting betting betting ting on this election the odds are fa ta favorable fat to McKinley y his election is as az assured Let us consider this proposition In the stock market If Ir practically y all the millionaires combined to boost the price of a stock it would go up how however ho hoer however ever er worthless It might be intrinsically Practically all aU the millionaires are against Mr Bryan They The can afford to bet and lose The odds are what they are arc because the men with money to wager ager are backing their wish and their hope Moreover the odds In many cases are fixed by b mere bluffs For example last week In Chicago Mr Henry C Payne the millionaire chairman of or the Re lie Republican Republican publican executive committee an announced announced announced to the representatives of the press that he would bet any amount of money at two to one that Bryan would not get as many electoral votes as in 1896 The news went all over the coun COUIl country country try and was published with glaring headlines Within twelve hours a gen gentleman gentleman tieman called on Mr Payne Pa ne with to wager but the executive exel chairman could not make good just at that time He would notify the caller later Next I thy day Mr Paynes Pa nes bluff appeared again I Ind nd in fifteen minutes a gentleman n from the Democratic headquarters called with a modest proposition of a afew afew afew few hundreds Again Mr Payne was disinclined to respond His purpose had been achieved A great part of or orthe the country had been Informed that he was ready to bet two to one on a crushing defeat for Mr tr lr Bryan B an The disproof could never catch up with the original bluff and so Mr Payne say sav saved sa saed sayed ed his money These are two reasons for the pres present present ent eat status of or the betting odds odd But even If u they t ey did not exist the odds would still sun have no meaning Bettors on presidential elections so far from being Preternaturally acute have usually been wrong Le Leus us go back to 1888 Groer Grover Cleve Cleye land Ianth was president and candidate for reelection How was the betting As It Is always in favor of the party In power Politicians know that to re elect a president Is one of the hardest political tasks The man on the out side has always the better of it John Adams John Quincy Adams Van Bu ren Cleveland and Harrison were all defeated at the close of their first fi t terms and half a dozen other dents could not even secure But the bettors ignore the les sons of history and so In 1888 we find that In October the odds ranged from a 5 to 3 on Cleveland to 2 to 1 and he be Was beaten by b 65 6 majority in the elec toral college while in 1892 the odds were 24 to 1 on Harrison and he was de do by b 1 13 plurality in the college The latter election closely parallels the theone theone theone one we are now approaching for then the country was prosperous and anti then as ail now the Republican administration claimed all aU credit for every iota of pros prosperity prosperity prosperity enjoyed There is only one ose thing more foolish than betting on an election That is to let your judgment be warped by the way wa others bet |