Daily Kennebec journal., 1910-06-17
Where Blame Is Due.

and elsewhere and other speakers and
often heard blaming the Republicans
and the Republican administration at
Washington because as they shout the
government does not protect all the
people from all the forms of swinding.
all the numerous fake corporations and
many substantial corporations selling
copiously watered stock The discov-
ering of fake operations and suppress
ing them is never the work of half Il
day. The process of law moves slow
ly. Ofttimes the action of the court
and efforts of government officials
seem too tedious, but it certainly is
better to move slowly and be sure than
by swift action do injustice. Presi-
punish illegal and evil corporations by
process of law. President Taft is pur-
suing the Roosevelt policies in this di-
rection and. an able jurist himself, is
making suggestions and is ever seek
ing action to uphold the law and to
make new laws for protecting the peo-
pie. with the end in view of prevent
ing investors from being robbed of
their money. 1t is unfair to the Re-
publican administration and against
the facts of the case, to blame the ad-
ministration because bad corporations
and fake companies with worthless
paper rob the people. The action of
government against the United Wire
less Company. raiding the New York
Office and arresting it's principal Of
ficers. claiming that millions of worth
less stock had been unloaded upon the
public. jaling one officer. holding two
others on bail, news of which was in
yesterdays papers is simply another
case in point showing that the Republi-
can officials of our Republican ad-
miniStration are on the alert in en-
deavors to prevent such robberies and
fraud
But We had in mind, and started out
to say. our thoughts being suggested
by the action against the United States
Wireless Company and also by the un-
just attacks on Democratic place hunt
ers in Wednesdays Democratic State
Convention. that even a Republican ad-
ministration, active. intelligent and
alert cannot prevent the birth and
bringing up of fools. nor can it prevent
the avaricious tendencies. the gam
bling propensities of American citizens
who every day aud every hour of the
day and every minute of every hour
are throwing away their hard earned
savings without proper deliberation or
of stocks in mining companies. in irri-
CATION companies, in boom land COM
panies in wireless companies. in fake
machine companies. in all kinds of cor
porations and trust paper without us
ing their own brains or seeking the
common sense advice of those qualified
to direct and advise.
In the stock market gambling when
ever bull market is on American citi-
Zens throw in. on IA margin, their earn
ings without regard to whether the
purchase prices of the stocks are low or
high hoping to make quicker returns.
Any glib tongued stranger can easily
induce in their town some of our citi-
zens to purchase shares in mining,
land companies. unsound insurance
propositions and innumerable schemes.
The hunger for the dollar ought not
make of the investor fool. Our
thought is that. for losses sustained.
too much blame is laid upon govern
ment and too little upon individual
foolish action whereby savings are
lost.