The Washburn leader. [volume] (Washburn, McLean County, N.D.) 1890-1986, 1903-12-05
Too Much Speculation.
Conservatism is the watch wore

VI GIL pAOLIOGOAo VI 1cSlUlAAdVO Ouo1-
ness propositions all over the coun-
try at this time. Inflated values
have contracted and the specula-
tive craze of the past three or four
years is less in evidence. This re-
minds us that the words of James
J. Hill and Of other great captains
of legitimate and conservative in
dustries uttered a year or more
ago went unheeded and were scott
ed at by the flip and uncrupulous
promoter. These giant men Of
business foresaw the inevitable
crash and during a time when
money was plenty and prosperity
was general, they were brave
enough to come forward and tell
the people of the country that the
pace they were travelling and the
lavish and injudicious use they
were making of the money at their
command would not and could not
withstand the test of time. Thous-
ands Of companies and corporations
were organized, and their capitali-
cation runs up in the billions,
amounts inconceivable, and all
kinds of schemes were worked and
bolstered up by would-be honest
and Christian men of every COM
munity, through whom the savings
of the widow, the orphan and the
working man was thrown into the
Golfers of these INSCRIPTIONS ma
nipulators whose aims and pur-
poses were even to themselves, un-
known and uncertain. They prom
Used fabulous wealth to all who
would contribute to their respec-
tive concerns and enterprises and
anybody with a little imagination
and wit evolved an idea on paper
established himself in elegant Of
fees and was at once regarded as a
Napoleon of finance end to him
was readily entrusted the savings
of years of hard work and toll.
The returns promised were never
realized and stocks and securities
that were purchased at 100 or more
cents on the dollar, are now entire
ly Notwithstanding no CONNER
cial value whatever.
The individual hardships and
suffering that this reckless and in
Judicious investment OF the saw
ings of people of moderate circum-
stances is now causing, cannot be
recounted or comprehended by
those who have not a personal
knowledge of the widespread dis
aster that the last two or three
months has wrought. People two
or three months ago were consider
ed well-to-do are to-day penniless
and objects of charity. They have
seen the companies in which they
had placed their faith and money
pass out of existence-the under.
taking or project failure-and no
one benefited or enriched, except
possibly, the promoters of the
scheme who would walk off with a
share of the cash and the investors
left with nothing. A Thousand of
these instances could be cited.
Those who are fortunate enough
to have escaped the schemer and
his schemes, the would-be promo
tor and capitalist, in the past
should profit by the experience of
their less fortunate brethren and
beware of the man who proposes
to handle your money for you or
wants you to share in an underta-
king OF a business proposition
which is not surrounded or safe
guarded with stability and legiti-
macy. Be progressive, but be also
prudent and conservative. If you
have few hundred or thousand
dollars to invest you will find plenty
of openings in legitimate business
lines which will pay you fair re-
turns. Care should be taken and
all propositions involving an in
vestment of money which are
savored with uncertainty and based
on future prospects should be
Stunned. The present is uncer-
tain enough without delving into.
the unknown and uncertain future.