The Republican. [volume] (Mountain Home, Idaho) 1903-1909, 1908-02-27

by legislation, II is absolutely essen.
tial vaat the issuing of a false pros.
pectus be made crime before ii is
possible to deal effectively with the
largest class of swindlers that now
prey upon the public.
While the United States govern
ment cannot directly prosecute
schemes to defraud, yet, if the mails
are used in the furtherance of the
! scheme the government can act AS
most of these schemes contemplate
| the use of mails, it is possible for the
| government to proceed against them
under sections $3.50 and $40 of the
| United States revised statutes. Sec
ton $3.50 provides that whoever de-
vises a scheme to defraud and pro-
notes it by opening correspondence
through the mails, shall be guilty of
a misdemeanor; section $40 provides
that If two or more conspire to COM
NIT the offense denounced in section
| $3.50, they shall receive a still great
er punishment.
Acting under the authority given by
these two sections, the post Office de-
partment and the United States dis
| trict attorneys office for the northern
district of Illinois have for years
waged a vigorous and relentless war
against all swindlers who make use
of the mail service The task present
ed the authorities is difficult one.
In the first place, where the mails
have been used, the victims are wide
ly scattered, and it is difficult to know
who has been swindled, and the gov
eminent must choose its witnesses
from those who happen to make COM
plant These witnesses are scattered
from Maine to California 1t is neces-
sary to bring them here for the pre-
liminary hearing. then for the grand
jury session and once more for the
trial of the case. Much labor and ex-
pense are necessary.
Then, too, it is necessary for the
attorney who draws the indictment
to go through correspondence and the
various conversations with the great
est care in order that he may analyze
the scheme and determine exactly in
what the fraud consists, so that the
indictment may be accurately drawn.
Then at the trial of the case, the gov
eminent is, perhaps, confronted with
the fact that the scheme has been so
cleverly devised that direct intent to
defraud is impossible of proof. and re-
sort must be had to circumstantial
evidence.
The records show, however, that
the government has very seldom lost
case of this kind, and that swindlers
and confidence men stand in the
greatest fear of the federal authorities
because of the vigor of prosecution in
the past If the law could be amend
ed as above suggested, undoubtedly
the government would be able to
reach and suppress large majority
OF the schemes to defraud that are
now operated from this city.
One of the surprising things in
connection with this subject is the
credulity of the average person who
has saved little money, and hopes
for large and immediate returns from
1t. 1t seems that there is nothing so
extravagant, so improbable, that the
people will not believe it. If the stock
OF any company had any chance of
earning the dividends which these
promoters represent that it will, of
course it would be subscribed and
over-subscribed for at once by the big
moneyed men, and would not have to
be peddled around at absurd prices
often as low as ten cents share.
When this is suggested to the promo
ter, he always states that the big
moneyed men are trying to get hold
OF the stock, but that it is not desired
that they should have it, because they
would then come into control of the
property; and the victim swallows the
explanation.
The sWindler usually has a confed-
crate to whom he refers the victim
who wishes to learn about his stand
ing and integrity; and it seems the
victim rushes right to this confeder-
ate instead of going to banks or bust
ness men and making inquiries from
people upon whom he could rely.
Every prospective purchaser should
stop and ask himself the question:;
why is this stock being peddled
around in this manner? Is it possible
that good safe Investment would be
so handled when so much money is
lying idle ready for good investments
in the hands of men who are compe-
tent to pass upon the safety of an
Who are the men back
of this scheme and what are their an
tecedents? At what banks, or at what
business houses are they
known as honest, conservative men of
business?"
OF course, the swindler has his
plausible answer to all these ques-
tons, and the victim takes his explain
alton without making a thorough adj
iitional investigation.
Copyright, by Joseph B. Bowles.)
Rare Coin to Be Sold.
The sale of the rare Miners bank"