Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1904-10-13
OUTSIDE POINT OF VIEW
Besmirched Regulations

Iawson's articles on "Frenzied FL
nance" promise to be much like the
story system inaugurated by the New
Yark Ledger years ago. In the midst
of an exciting chapter on the ne
farious work of Standard Oil, it is Ito
be continued in out next" all Of which
is a good thing for publisher and writ
err Of the articles. In the last article
Lawson shows his hand by admitting
that after the public has been edu-
Gated by reading "F'renzied Finance"
suit will be commenced against the
promoters of the amalgamated scheme
this with reasonable chance Of win
ming, i. e. after the public has acqulr-
ed sufficient financial intelligence
(absorbed as it were from his text
books) to sit on the grand jury OF
public opinion, and the petit Jury In
any state where the case may be In
stituted Going to law" is weak
ness of Lawsons as his previous rec
ord shows, but to plead case before
million or more readers in q popular
magazine, get them familiar with the
case i'm this way, and then to bring
suit in the courts, has the great merit
Of novelty.
| And all this suggests, is there now
| in this country, at least, any such thing
as a besmirched reputation? Have not
the public, as a whole, been SO thor
oughly surfeited with exposures" that
| indifference, (not to say nominal &C.
o1iesence) is the attitude Of said pub
| Tic today. The Rockefellers have been
painted as monsters, the son as a Sun
day school hypocrite. j. P. Morgan
excels his buccaneer namesake if we
are to believe half that is printed.
Schaub and the shipbuilding concern
| in New York practiced piracy, financial
| piracy, that puts to shame any acts on
the high seas, the great steel combine
has been shown up as a huge affair,
mercilessly destroying many private
fortunes and small corporations, and
vet in the fact of all these Exposure"
do we read anywhere of the originators.
the nromoters of these financial schem-
as being ostracized. socially, financial
Nv. politically, publicly or otherwise.
1vhv we don't have to go out or Iowa
to notice that the "besmirched" are
not suhnerged In Des Moines, in par
t,cu1ar and over the state in general
during the past ten years innumerable,
schemes. insurance companies invest
ment companies, loan and trust COM
nanies. mining companies, telephone
comnanies. oil companies ct cetera,
have been organized, promoted, stock
sold and money secured from servant
otrIs to well to do individuals, such
companies having the names of promi-
nent state officials, as directors and
managers. all this to be verified by
hooking thru the advertising columns
of our newspapers, and the thousands
of nrinted circulars sent thru the mails
And nine-teenths Of these schemes
nrove to be bare-faced swindles. The
mon prominent men Of iowa, who
originated these companies, knew they
were swindles, when they lent their
names as directors, in consideration OF
so MANY shares Of stocks, free to them,
without money and without price, said
shares being sold to an unsuspecting
nublic as soon as possible, and their
names as a rule, not appearing as
stockho1ders, directors or officials.
When the crash came, and the COM
nanv wound up and forced out OF ex-
istence Does the reader know OF any
hasm;,ched regulations In Iowa? On
tho contrary have not many OF these
men "feathered their nests" and live
TODAY in Iowa in luxury, surrounded by
hosts of friends, and are socially, po-
litically. financially and publicly, the
nominal peers OF the class OF our mon