East Oregonian : E.O. (Pendleton, OR) 1888-current, 1904-12-29
The outlook's Analysis
Of Lawson.

The most fearless and direct analy-
sis Of Thomas W. Lawson's sensational
articles appearing in Everybody's
Magazine that has yet been given to
the public. appears in the Outlook for
December -, and is as follows:
correspondent asks us why we
have made no comment on the notori-
Gus articles by Thomas W. Lawson
now appearing in Everybody's Maya
zine. under the title of ..Frenzied FL
nance" To be perfectly fair to our
correspondent, we print his question
in full:
If ii is true that the colossal 'sys-
tenn Of a few disloyal. unscrupulous
financiers is filching. misusing. mis-
representing. and endangering the
billions in money, hard earned by
hundreds of thousands of toiling
Americans placed in what they have
believed TO be absolutely safe. pro-
teeted investments, why is it that the
mighty press. dependent upon the
I public. the self-styled guardians of
public welfare. should not arise and
arouse our land TO its alarming condi-
/ tion ere it is too late?
Motives for Silence.
To my mind there are but three
/ differences that can be drawn from
this ominous silence: "a That the
press. including the Outlook. is
afraid. cowardly-fearing the with
drawal of the financial patronage of
the insurance companies. trust COM
panies. etc. ca That Thomas w.
Lawson is the most unmitigated liar
that has ever been given space in a
popular American magazine: the press
al large, knowing this. pays no heed
to him. CD Incompetent editorship.
and failure on the part of the men
who hold these responsible positions
TO distinguish between important.
vital topics of the times and that
which is non-essential"
So far as the Outlook is concerned,
II does not submit 10 being classified
in either of these three divisions 1t
does not fear any capitalist or any
combination of capitalists: it does not
believe that Mr. Lawson is an unmiti-
gated liar; nor do the editors think
that they are unable to distinguish be-
tween important, vital topics Of the
times and those which are non-essen-
tioL There is another explanation of
the outlook's attitude towards Mr..
Lawson and his articles of which our
correspondent has not thought.
Il is a principle of common law
that in a criminal case the accused is
10 be considered innocent until he is
proved guilty. and that testimony by
a confessed criminal who has turned
states evidence" is not to be accept {
ed without substantial confederation. I
We have read Mr.. Lawson's articles !
They make at least one thing clear
that their author is a self-confessed, (
even if partially reformed. accom- /
plice. tool. and partner of the very
men whom ne is now denouncing as /
criminals and robbers Of the public.
Who's Liar?
According to the principle of COM
mon law which we have stated. no in
telligent man needs to believe. in the
present state of the case. either that
Mr.. Lawson is an unmitigated liar or
that his opponents are unmitigated /
scoundrels. ON the contrary. the man
of reason is bound by every principle
of intelligence. law and morals to re-
serve his verdict until there is some
impartial confirmation of the ques-
tiOnable evidence now being given
concerning an alleged gang of thieves
by one of the gang.
But while the juryman may not
take sides or render a final decision
until all the evidence is presented. he
may form an opinion while the case is
still in progress. such an opinion we
have, and we shall endeavor to state
Il in this article
Mr.. Lawson contends that a num-
Der Of rich and powerful capitalists
are banded together to promote great
industrial and financial enterprises of
doubtful character. for the purpose
Of Fleeing the innocent investors who
put their savings into the stocks and
other securities of these enterprises.
This group of promoters who reap
great personal profits from the losses
Of the public he calls "the system:
and he asserts that 'the system" DIN
financial and speculative operations
use not only their own money. but the
money OF trust companies, banks and
insurance corporations. of which they
have obtained control.
There is undoubtedly a money pow
er in this country; there are combina-
tions of capitalists, promoters. and
wealthy Spectators formed for the
purpose of raising or depressing the
prices Of stocks, thus incidentally
running the petty and inexperienced
speculator and often seriously injur-
ing the Legitimate investor: there are
trust companies. banks. and financial
which. in our judgment.
and in the judgment of sound bankers
and financiers. have used the funds
at their command, belonging TO de-
pcsitors or stockholders. for the pur-
pose of unsafe and sometimes disrep-
utabIe speculation and promotion.
Lawson Is Interruptions
Mr.. Lawson knows this as well as
because he has been. ac-
cording TO his own statement, one of