The Marion daily mirror. (Marion, Ohio) 1892-1912, 1908-02-01

Superhclaily IL may seem that
the laws, the passage of which
herein advocate-for | have repeat
edly advocated them befDre-are
not connected. But in reality they
are connected. Each and every one
of these laws, If enacted, would
represent part of the campaign
against privilege, part of the cam
paign to make the class of great
property holders realize that prop
erty has its duties no less than its
rights. When the courts guarantee
to the employer as they should, the
rights of the employer, and to prop
orty the rights of property, they
should no less emphatically make
II evident that they will exact from
property and from the employer the
duties which shoul necessarily ac-
company these rights; and hitherto
our laws have failed in precisely
this point of enforcing the perform
ance of duty by the man of prop
erty toward the man who works for
him, by the man of great wealth,
especially If he uses that wealth In
corporate form, toward the inves-
tor, the wage worker, and the gen.
eral public. The permanent failure
of the man of property to fulfill
his obligations would ultimately as
sure the wrestling from him of the
privileges which he Is entitled to en-
Joy only ''if he recognizes the obli-
cations accompanying them. Those
who assume or share the respon-
sibility for this failure are render
ing but a poor service to the cause
which they believe they champion.
81 do not know whether it is pos
sible, but If possible. it is certainly
desirable, that in connection with
measures to restrain stock watering
and overcapitalization there should
be measures taken to prevent at least
the grosser forms OF gambling in Sc
,dcurities and .svcosnmodities,. such as
making large sales of what men do
not possess and "cornering" the
market. Legitimate purchases Of COM
modities and of stocks and securities
for investment have no connection
whatever with purchases OF stocks
or other securities or commodities
on margin for speculative and gam
bling purposes. There is no moral
difference between gambling at cards
or in lotteries or on the race track
and gambling in the stock market.
One method is just as pernicious to
the body polite as the other in kind,
and in degree the evil worked Is far
greater. But it is a far more difficult
subject with which to deal. The
great bulk of the business tran
sacted on the exchanges is not only
legitimate, but it is necessary to the
working of our modern Industrial
isystem, and extreme care would
have to be taken not to interfere
with this business in doing away
with the "bucket shop" type OF OPP
Grafton We should study both the sue
cesses and the failures Of foreign
legislators, who, notably in Ger
many, have worked along this line,
so as not to do anything harmful.
Moreover, there is a special difficulty
in dealing with this matter by the
Federal Government in a Federal
Republic like ours. But II 1t Is pos
sble to devise way to deal with 1t
the effort should be made, even II
only in cautious and tentative
way. 1t would seem that the Fed
eral Government could at least act
by forbiddng the use of the mails,
telegraph and telephone wires for
mere gambling in stocks and futures,
Just as 1t does in lottery transac-
tions.
!. II inclose herewith a statement is
sued by the Chief of the Bureau OF
orporations (AppendiX ~ in answer
TO certain staements (Which also
inclose) made by and on behalf OF
the agents of the Standard Oil Cor
poration (Appendix p and a letter
of the Attorney-General (AppendiS
: 81 containing an answer to certain
: statements, also inclosed, made by
, the president of the Santa Fe Rail,
| way Company (Appendix ~. The
3 Standard Oil Corporation and the
Y lrSlway company have both been
Q found guilty by the courts of Grim
: inal misconduct; both have beer
Y sentenced to pay heavy fines; ant
Q each has issued and published broad
: cast these statements asserting tbeil
: innocence and denouncing as improp
: er the action of the courts and jurie'
! in convicting them of guilt. These
e statements are very elaborate, arr
: very ingenious, and are untruthfu
G in important particulars. The fol
8 lowing letter and inclosure from Mr.
Heney sufficiently illustrate the
n methods of the high officials of tn,
e Santa Fe and show the utter falsit.
Q OF their plea of ignorance, the simila
n plea OF the Standard Oil being equal
s ly without foundation"
Z Department of Justice"
: office of the United States Attorney
! District Of Oregon.