The L'Anse sentinel., 1908-01-18

v0ot40f ~ JuQIoloI xnU0SptouuoU 80
~ iegislstion. Il " absolutely essen'
dial that the Issuing Of . false pros
poctus be made cFime before Il n
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. II tho mails
are used In the furtheranoe Of the
scheme. the government can act A
most Of these schemes contemplate
the use of mails, It 10 possible for the
government to proceed against them
under sections $3.50 and $40 Of tho
United States revised statutes. Sec
tion $3.50 provides that whoever, do
vises scheme to defraud and pro-
notes It by opening correspondence
through the mails, shall be guilty Of
q misdemeanor; section $40 provides
that II two or more conspire to COM
init the oftense denounced In section
$3.50. they shall receive . still great,
er punishment.
Acting under the authority given BY
these two sections. the post once do
bartment and the United States dis
trict attorneys ONCE for the northern
district of Illinois have for years
waged vigorous and relentless war
against all swindlers who make use
Of the mail service. The task present.
cd the authorities is dinicult one.
In the first place, where the malls
have been used, the victims are wide
ly scattered. and It IL difhcult to know
who has been swindled, and the gov
ernment must choose It's witnesses
from those who happen to make COM
plaint. These witnesses are scattered
from Maine to California. It il 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, 1t 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
ernment is. perhaps, confronted with
the fact that the scheme has been 20
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 II the law could be amend
ed ~ above suggested, undoubtedly.
the government would be able to
reach and suppress q large majority
Of the schemes to defraud that are
now operated from this city.
One Of the surprising things In
connection with this subject, IL the
credulity of the average person who
has saved a little money, and hopes
for large and immediate returns from
1t. 1t seems that there is nothing so
extravagant, 30 improbable, that the
people will not believe 1t. II the stock
Of any company had any chance of
earning the dividends which these
promoters represent that It will, of
course 1t 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 q 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 1t 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 q confed-
crate to whom he refers the victim
who wishes to learn about his stand
ing and integrity; and 1t seems the
victim rushes right to this confeder-
ate instead Of going to banks or busi-
ness men and making inquiries from
| people upon whom he could rely.
/ IVSAy PiOopcCGv0 PuICudooI buOulu
stop and ask himself the question:
why is this stock being peddled
around in this manner? Is It possible
that q good safe investment would be
80 handled when 80 much money IL
lying idle ready for good investments
in the hands of men who are compe-
tent to pass upon the safety of an
Investment? Who are the men back
Of this scheme and what are their an
tecedents? At what banks, or at what
established 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 q thorough ad-
ditional investigation.
| Copyright. by Joseph B. Bowiss.)
Rars Coin TO De Sold.
The sale OF the rare Miners bank"