Daily capital journal. (Salem, Oregon) 1903-1919, 1912-10-24
The Blue Sky Law.
To the Voter


you think that he should be allowed to
continue to fleece the public unre-
strained, and that the law should con-
Germ itself only with the thief and the
ordinary embezzler?
Should the one who fleeces the man
on salary, the wage Garner, the widow,
as well as the capitalist be permitted |
to do so through the agency OF our
laws?
These are up for decision and a rec
crd of your vote within the next few
weeks. Your answer will be your vote
on the Blue Sky bill which will ap.
pear on the ballot as No. 9S4-335 un-
der the title "a bill for an Act to Pro-
tect Purchasers Of Stocks and Bonds,
etc" If your sympathies are with the
one who Injuries the reputation Of our
state and legitimate resources, who
defrauds rich and poor Of their invest
ments by means of stock in projects,
that are either unsound or organized
for swindling purposes, if your sympa-
thies are with this kind of person,
there is no need for you to read fur
tber; vote against Bill No. 334. If you
believe, on the other hand, that the in.
vestment Of your savings and the saw
ings Of others, should be guarded by
law very much as your deposit at the
bank is now guarded, vote for Bill
No. 334
The issue Is clear. It would not be
true to say that every one who op-
poses the bill is in favor Of fraudulent
stock; there are many motives, many
peculiar ways of thinking and there
Is much of misunderstanding. But is
it not true that every person who is
profiting or expects to profit from
stock swindling is opposing Bill No,
S34, which will keep their dishonest
hands out of your pocket? Which side
then is your proper side? Which way
should you vote, to let their hands in
or keep them out?
Every intelligent voter these days
knows that when the opponents of
an honest, progressive measure can
not be attacked directly on its merits,
their scheme is to work the old. old
game of cost" or another office" 4"
This sometimes serves to detract the
voters attention from the merits by
exciting prejudice. So 1t has been
with the Blue Sky Bill. The oppon-
ents Of this bill have been entirely un-
able to advance word of argument
against il that would not kill their
case hopelessly with the average man.
Hence, they have tried the time-worn
dodge of the "sick' politician, and
have confined themselves to the same
cries Of expense, They have in many
cases represented that the maximum
amount named in the bill, allowed to
be expended, is to be expended, wheth-
or or no. This is without warrant,
and is on par with the nature of the
plea Of prejudice against expense, up
on which they hope to defeat meas
ure against the dishonest promoter.
Just so long as they are able to keep
attention directed to this, they hope to
defeat the measure.
If we never had had sheriff TO ap-
prehend law breakers, and If bill
were proposed providing for sheriff
and limiting the amount to be expend-
ed in preventing crime and securing
your safety-if this condition and this
proposal were before you-don't you
believe there would be opposition to
It? Wouldn't that opposition include
some who are opposed to all change,
some who are misinlormed, some Of
peculiar views? And wouldn't the op-
position include every one whose sem
timents or acts ran counter to good
government? Unable TO oppose the
measure on It's merits, wouldn't the
ones to be affected, raise the cry Of
cost" in an effort to defeat It?
Why have a sheriff; It costs. Have
you ever needed to call on him for
protection? Why not abolish the Of
flee? Why insure your property it
costs. Have you ever had a fire? Why
not every one drop all insurance?
The need for BIZ No. 334 exists
mostly with the average person, the
laborer, the one on salary, the widow.
They are the ones who are 80 busily
engaged in making a living and a
little surplus that they have neither
the time nor opportunity TO become
deeply learned in the -intricacies Of
investments. The wealther man OF
affairs generally has training that en-
ables him to judge better Of propos-
ed investment, or money to employ
the best legal talent, yet even he gets
"stung" as the recent cases in and
around Portland show.