Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1906-09-14
THE GOVERNORS WARNING,

were appears 10 be quite a furry IN
certain circles over the warning given
10y Governor John e.. Cutler against
rash speculation. aud wild investments
in mining stocks that nave little u any
substantial value Careful reading Of
the Governors caution does not. IN
our opinion, Justify the objections that
have been raised against his remarks.
There Is nothing that We can discover
IN them that would be- likely 20 lnjure
any legitimate mining industry or real
prospect. II should not have an un-
favorable effect upon the stock mar
ket, so far as genuine operations there
are concerned. II Is only against
graf and deception and wildcat pre-
tensions that he aims his darts. and
they ought TO be held mp as well as
other frauds TO public reprobatlon.
II Is true that the mining industry
Is. IN some respects. different from
many others. There is always an ele-
ment OF uncertainty about a. especial
~ when mine Is IN process OF de.
velopment. or prospect " Is stu
awaiting the Investment Of capital to
determine It's status And unless some
yenturesome person or persons are
ready TO make advances on the chance
If success. many discoveries that might
turn out valuable properties would re-
main merely holes In the ground For
tunes have been made-and also lost
by Investments H. doubtful mining
enterprises We DO not think the Gov
crnor has intended. by his letter. TO
hinder the progress Of such endeavors
10 increase the wealth OF the State. We
have had no conversation with him on
the subject. but taking his commum-
cation as il stands. We perceive IN It
nothing more than a protest against
deceptive and groundloss schemes. and
advice TO the unwary not TO partake
Of the craze that Is certainly epidemic
as 10 mining stocks. especially to peo-
pie of little means who cannot afford
the losses that are likely to ensue.
There is very great danger In the
temptation offered by such specula-
iions. to employees who have the hand
ling OF funds belonging to their emf
ployeis. and who are sometimes led TO
borrow" means wherewlth to invest.
expecting fully 20 pay back the
amounts when the stocks they pur-
chase take rise Ia the market With
on, any Intention To steal, they place
themselves on the list OF those guilty
OF embezzlement. whether they succeed !
in replacing those funds or not They
appropriate 10 their own use that which
does not belong 10 them and that Is
unlawful and dishonest In too many
Instances they fan to gain what they /
anticipated and are therefore unable
to carry out their intention. The con-
sequence is. liability to prosecution
and very often sojourn IN prison and |
the loss Of good character.
Every young man. and every older |
person Cor that matter. should stand /
firm on the rock OF right, by refrain |
ing under any circumstances from /
spcculatng with money that belongs
10 somebody else. Borrowing without
tho consent Of the owner is larceny so /
matter how irmly the tskcr purposes
20 restore a. the act Itself Il wrong
and there I. always The uncertainty as
ca INC ability 10 put Il hack Public
funds should be as exempt from
such borrowing a. private money.
No dazzling prospect Of a rise I'M stocks
or other speculative venture viii iusti-
fy the appropriation OF anything not
ones own. no matter how som d is
expected 10 restore II
Apari from all dishouesi,. Warning
- needed against rushing into spcculs.
lions such a. those the Governor de-
precatss. II e a fact that they are
fads Of the times. More poor people
viii be financially ruined over them
than VIII ever regain what they risk
IN that Kind Of gambling. can II by
What other name one pleases Mining
men need not and ought not take ox-
cepiions 10 such words of caution Nor
should the brokers who are doing a
legitimate business be angry over
them. They can do no harm to real
industry or an honest calling. They
are against wildcat schemes. and false
pretenses. and rash ventures. by peo-
pie who cannot afford the risks Don't
misrepresent that which ia offered With
rood intent nor take umbrage az wise
sounser