The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-05-08
THE WHY THE STOCK TAxLAW
Legislators. Bitten In wall street, Sought
Revenge Through II.

Revenge Through ".
To THE Enron OF THE SUI Sir Some
one suggested the 9th ct day, after the passage
Of the Stock Transfer TaNlaw, that Dr. Depew
issue a monograph which shall he entitled.
IL Mrs Pepper Came to Albany; or. the ISy-
chology Of Bucoic LEGISLATION" one can.
not but suspect the lurking demon OF revenge
beneath the legislative waistcoat.
During past years IL has been the ubiqutous
and tantalizlng duty OF the undersigned to
pursue. as the representative Of banking
house. the furtiye investor among the
Businesses Of the upstate Constituencies
Experience has taught him that among his
competitors In communities rural and urban
are certain investment corporations" known
TO the vulgarly wise Of canny Wall Street
as bucket shops often, too, II has been
observable that the dignifed and whole
some literature distributed by the tin Grant
bondsman az a lure for unemployed funds
has been painfully eclipsed by The tipstera'
columns in certain Sunday issues Of metro
politan Journals The upstate sport and
financial plunger usually possesses redhot
inside information. straight from board
rooms and committee meetings by special
wire service from New York. Staid in
vestment literature makes about as big bit
with him as would the late Mrs. Sherwood
Moral Tales" lie Graves financial items
Of the stormy, incisivey torrid Iawsonesque
kind, that make his marrow culver and his
Golfers bulge at click Of the ticker.
Is II conceivable that any, or several, Or
even many OF hat august body which The
Rev. Mr. Mcdonald lately STYLED the General
Assembly" and which-it IA surely remei
table has not vel. elected that Speaker noini-
mated by the good divine, can IN the rerOte
past or pulsng present have misinterpreted
some periervid phrase Of fipaneial snthni,
stasm, and have got bit as ne ma hSrdhsear'en
II Ia said By malicious persons that within
q an ort trolley ride OF the capital there is an
had TO the conveniences Of the ticker without
the nnOyance and charge o. the transfer
tax. Indeed. these eylmHd1ed sossips MN nun
a makebelieye Of delivery OF the goods unless
some unsophisticated Indian with madness
sion R butts in. Then. you may be sure, there's
II is known 10 the initiated that the buckle
shops flourish and fatten on 2 declining
market and for this reason: The averase
outside BpeCulAtor, even the most deVlllsh
and soapdo99ed gam6idfr P5e5aeIs go 10
Of the market. He can't appreciate selling
what isn't His unless he has FIRST flched u
half Of 1907 and all Of 1903 were Otable for
the prosperity Of the bucket shops, lust as
the two years preceding them were remark
able for mortality among them: lhe writer
well remembers the invectives he has heard
hurled during those flor the speculaiorl
lean years-against all things financial, ana
especially AGAINST ali the. rascals Of Wall
Street Can IL have been that In the remo'9
wildeTn es about Painted Post, or hQihGl
or Hl0ug the waste places surrounding three
Rivers, OF amid the historic TuEgedness ~
Sandy Hin and Fort Edward. some potenua
statesman got bit , -
Perish the thought And yet, how insist
emily il Tectrs to one who has chased the 0eel-
ing Rhekel from OgdenRburg 20 IOuenNuie,
from sag HarhOr TO Olean and beyond the
baTrens Of Dunkirk, feeling as he lourneye1
the imam ial pulse Of great and small
Is II possible the transfer tax law can nave ,s
been fathered In mRlicey The writer has
observed that the pastoral Legislator, vewHd
afar from the glamour Of the boarding car
avansaries that glitter along Washington
avenue and Eagle street, suggests consider
able ethnio possibility. His instincts ara
strong and primal. BE Il at once open
hearted, garrulous and vindiCtiye, His eN'
pletiVe IL abundant and fOrceiul. j. IL evil
dent he wants to get even with wall SWee'l
for just what reason and by, precisely Nhat
method he doesn't know. He is only suro
he has been wrOnFed IN the past, ~ beng
presently damaged. and will he injured on
to eternity by the sleek yipers, the onnlvo'
rous money Rrubbers Of. lower Manhattan.
Therefore he mems 10 do them II he can.
But II isn't until he strolls along Pearl street.
and spies the baleful spook Of StateTaIt
astalk along the bOulevards converEnE az
the mosaic bar Of a state street hotel thal VIC
party boss voice focuses his chaotic lus'
to do somebody with the heTy command
Tax EN- Squeeze the high rollers oi
Murray Hilll Sock Il to 'eml Revenge =,
INV YonE MAY 8 A. NJ