The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1907-10-05

checks counterfeit stocks and bonds,
and this for gain of less than millions,
and when detection was probable. All
these are criminal offenses and their
detection is sure to bring disgrace and
state prison. Yet members of this ex-
change desperate enough to take the
chance, when confronted with loss of
fortune and open bankruptcy, have al.
ways been found with nerve enough
to attempt the crimes. | repeat that
there are at all times exchange men,
bers who will commit any crime, barr
ing, perhaps, murder, to gain millions.
That you may see that my successors
will surely come from your midst from
time to time during the future exist
ence of the exchange, l will enumerate
the different classes of members who
will follow in my footste,,s:
First, the In COD We Trust
schemer who Is of the System type,
but who is outside the maze circle. A
man of this class will reason: know
scores Of men, who stand high ON the
Street and in the social world, who
have tens of millions that they have
f1lched by System tricks, if not by
legal crimes If l perform this trick
of Brownley's, the trick of selling
short until panic is produced, l shall
make millions and none will be the
wiser. For all l know, many of the
multi-millionaires whom l have seen
produce panics and who were applaud
ed by the Street and the press for
their ability and daring, and whose
standing, business and social, is now
the highest, were only doing this same
thing, and having been successful, they
have never been detected or suspected.
But even suppose l fall which can
only be through SOME extraordinary
accident happening while l am en-
gagged in selling, l shall have COM
mitted no crime, and, in fact, shall
have done no one any great moral
wrong, for If fail to carry out my
contract to deliver the stock l have
sold in trying TO produce panic, the
men to whora l have sold will be no
worse off for not receiving what they
bought; in fact, they will stand just
where they stooH baf re | attempted
to bring on panic.
Second, IL an exchange member for
any reason should find himself over
board and should realize that he must
publicly become bankrupt and lose all,
he surely would be fool not to at
tempt to produce panic, when its
production would enable him to recoup
his losses and prevent his failure, and
when If by accident he should fail in
his attempt to produce panic, the
penalty would simply be his bank
ruptcy, which would have taken place
in any event.
1.-THE third class is that large one
that always will exist Willie there is
Safeguarding, a class of honest,
OBSERVATION-DISCLOSURES game fair ex-
change men who would take no unfair
advantage of their fellow-members I'M
Ill they become awakened to the
knowledge that they. are about to be
'uined by their fellow-members' trick
cry.
Next, let us consider further wheth-
,r 1t is possible for our exchange to
prevent my device from being worked,
low that 1t Is known to all. Suppose
he governing committee was informed
n advance that the attempt to work
he trick was to be made. If, at any
session, after gong-strike, the govern
ng committee, or any exchange au-
.hority, could for any reason compel q
member to cease operating, even fol-
The purpose of showing that his trans
actions were legitimate, the entire
structure OF stock-gambling would fall
Think 1t though: Suppose man like
Barry Conan. or myself, or any active
commission broker, begins the execu
ton of ln:se order for client, one
say, who has advance information of
receivershir a fire at mine, the
death CT PRESIDENT, a declaration OF
war, or any of the hundred and one
items of information that must be
acted upon instantly, where delay OF
a minute weld ruin the broker, or his
house, or its clients. If the governing
committee could thus call the broker
to account, the professional bear OF
the scheTcr who desired to prevent
him from selling, would have but to
pass the word to the president of the
exchange that the broker in question
was about to work Brownley's discov.
cry and he could be taken from the
crowd and before he returned his
place could he taken by others and he
could be ru.aed.
Men of Wall street, it is impossible
to prevent the repetition of those acts
by which in five years have accumu-
la,od billion dollars, impossible so
long as short sale or repurchase
and resale, Is allowed. When short
sales, and repurchases and resales, are
made impossible, stock speculation will
be dead. When stock speculation Is
dead, the people can no longer be
robbed by the System In leaving
you, the exchange, and Safeguarding
forever, as l shall when leave this
platform, l will say from the depth of
a heat that has been broken, from the
proioundity of a soul that has been
withered by the Systems poison, with
full sense of my responsibility to my
fei.ow-man and to my God, that I ad-
wise every one of you to do what
| have done and to do 1t quickly, before
the doing of it by others shall have