Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1880-03-20

agent to deal with it. In one word, the Gus
toner, if he has paid for his stock, takes it
out of the hands of the broker whenever it SO
suits him, and the stock consequently be-
comes special deposit in the hands of the
broker, for which he is responsible, or should
be responsible under the Penal Code. But in
stock which is paid for only in part, the factor
or agent as well as the customer has an inter-
est, and it is this that the factor has loaned
/ his customer his means for the purpose of
effecting purchase, and to that extent he is
interested in what is in his hands; with the
customer, that he has paid part of the pur-
chase price and has an interest in it to that
extent Then the words in whole" are nom
sense, like great deal more of this bill
and we will pass it and come to the true
meaning of the section. which is, that all stock
which comes into the hands of the brokers
belonging in part to their customers shall be
held inviolate. They shall keep that invio-
late, and shall at any time, upon demand,
deliver up the identical stock purchased for
him. and no other. Now | ask you, Senator
West, not alone as a fair, candid man, but as
a man of analytical mind far above the
ordinary mass OF people, how you can recon
Gle your conscience with voting for Sec
ton like this? 1t means that | may
90 to you, Senator West, and ask You to buy
for me lot of wheat; ! will pay you on that
wheat so much money, and you viii advance
for me the rest, and you will keep that as
security until | call for it, to which you agree.
The wheat is bought, and have known in
stances where its fluctuations have been, not
on as large a scale perhaps as in stocls-he-
cause the Intrinsic value of wheat is measured
entirely differently-but enough to take away
all security that you have in the lot of wheat
that you have bought for me, and |,
10 i'll g
wheat were included here, | can
tell you TO hold that wheat until | get
ready to call for it. There will be war be-
tween Russia and Turkey, or between Russia
and Prussia, and then wheat is bound to go
up, and you will have to hold it for ten years,
or until | demand its return. | am giving
you the exact language and the only inter-
probation you can put upon it, and yet we
are asked, for the protection of the people OF this
State and the poor men, as Senator German
feelingly describes them-for the protection
of the poor people we are asked to permit
other people to commit fraud which should
consign them to the jail, and l defy any gen.
tleman to give different Interpretation of
that which [ have read. l would like to hear
any lawyer in this Senate say that l am
wrong III it. But is it not needless to speak
of that when the whole bill bristles with just
such faults, with iniquities, with contradic
lions and with rascalities?
Whose fault it is | neither know nor care.
Then comes a section which we have not con-
sidered. l call the attention of the Senate to
that section. l know you will not ask me to
vote for that 1t is the sixth section. 1t is a
good section probably for the man who
drafted this bill for Captain Gorley. | be-
lieve he is detective. 1t says that one half
of the fine shall go to the informer. Senator
West, a man of your experience knows ex-
actly what the moiety system led to
in the United States. 1t has been abolished
because it has been the source of more per-
jury, corruption, injustice, iniquity and op-
preston, sanctioned by law, than any other
measure that ever existed in the United
States. There was not a man, except those
vile fellows who directly made their living
out of such business, that was not opposed
to it, and here you have got it looming up in
all its monstrous shape in this Gorley bill
in this measure that has been sent to us fer the
purpose of protecting the poor. 1t is
useless for me, Mr.. President, to
say more, and l should not have opened my
mouth upon this question, owing to my usual
bashfulness and modesty, but could not sit
still and see such measure as this pass.
have had my say. / do hope that the Sena-
tors who have the least inclination to vote in
favor of this bill, as it is before the Senate
and unamended, viii look at it and study its
words before they place themselves on record
for any such measure as this.