The representative., 1901-05-23
CRIMINAL SPECULATION.

If crime is defined as an act the dc-Dg
Of which Is prohibited by law. stock specu
lation cannot be considerd criminal, but
when the word crime is used in its broader
sense to describe an act which Offends
against morality or the public welfare, it
certainly includes that species Of gambling
which endangers the community as we'll as
Injuries the participants. A record of Wall
streets doings for the last week is an in
dictment against our boasted civilization.
That such transactions are allowed is as
much reflection upon the intelligence of
the community as it is upon the conscience
of the people 1t is little less than amaz-
ing that few men should be permitted to
corner the market for their own selfish pur-
poses, beat down the price of one stock and
boom the price of another stock dernoral-
izing business and jeopardizing the interests
of all classes of society. It Is reported that
the slump in stocks amounted to seven
hundred millions in value, and that the
New York banks had to put up nearly
twenty millions Of dollars to prevent a
panic. How will the historian describe an
age in which petty thief is severely pun
ished, while great criminals go unwhipped? i?
1t often takes an object lesson to arouse the
people to the evils of bad system, and the
recent fluctuations In the stock market cost
ly as they have been, will be cheap if they
lead to legislation which will put an end to
stock gambling, enormously described as
business. The Commoner.
1t would be interesting to know lust
what legislation Mr.. Bryan would pro-
pose for the evils he has here described.
He seems to advocate Legislation that
will put an end to stock gambling" We
are sorry Mr.. Bryan is not more specific
as to remedy. No one questions the ex-
istence of these evil practices he de-
scribes. The question Of how to deal
with the evil is the real gist of the
whole affair. Concerning the remedy,
Mr.. Bryan is silent as an oyster.
Democrats are generally considered
as party of ants. They are frequent
ly charged with being against every
thing and 'for nothing"
Is Mr.. Bryan simply against gambling
in railroad stocks or is he for govern
ment ownership of railroads, which
gambling arena? Would Mr.. Bryan
leave all these speculative stock oppor-
tunities private property, as at present,
a temptation to every gambler, and
then pass penal laws to punish men who
yielded to the temptation, or would he
remove the temptation?
1t should be remembered that many
who gambled recently in stocks on Wall
street were congressman. 1t is stated
OF good authority that Senators Hans
brough, Pettigrew and several other
Northwestern senators made snug for
tunes on tips furnished by President
Hill of the Great Northern railroad.
Would Mr.. Bryan expect these men to
vote for such laws as would punish
themselves? We have the Sherman
antitrust law. Every railroad or in
dustrial consolidation in this country
violates the spirit and intent of that
law, and yet it has never been enforced.
AS long as large number of the
nations big Democrats and big Re-
unblicans are owners of these stocks
and at the same time part of the gov
ernment, it is childish to expect them
to suggest, or enforce remedy. They
will protect their own interests as long
as in power and will retain that power
to the last moment The Democratic
party fights for existence to protect
sugar, national banks and private own
ership of railroads. The Republicans
are fighting for the same thing. Relief
and the proper remedy will be found
when the masses organize and force
such revolution as shall sub