Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-02-07
OWEN EXCHANGE
BILL CALLED
TYRANN|CAL
Forbes Denounces Measure That
Would Exclude Daily News
papers From Mails.
BY 8. C. FORBES.

the lawmakers are chiefly to blame
They rush through crazy bills TO ap.
pease passing whims and outburs.s
The excitement subsidies, the laws be-
come a dead letter, and nobody trou.
bles any more about them.
|
The moral effect OF passing every
year thousands thousands-o1
statutes and letting half OF them b.
trampled upon with impunity is very
bad. 1t vitiates respect for law. II
drags the functions OF government In
the mire.
With that by way of introducti IN
let me bring to public notice-and.
hope, indignant condemnation-a bill
under discussion at Washington
which, in principle, 3 as Manner!
can, as tyrannical and as repugnant
to our national spirit of freedom as
any proposal ever propounded by a
Federal legislator.
| refer to the so-caled Owen bill
dealing, ostensibly, only with stock
exchanges, but involving the rudi-
mentary liberties of every citizen.
|
The bill. among other things. would
make ii a crime, punishable by i'm
prisonment, for you to mail a news
paper containing the regular record Of
stock exchange transactions such as
every daily paper carries!
! Only under extraordinary and
pressing circumstances should Ameri-
officials to tamper with their right to
communicate with one another oy
mail
Almost rs soon let us encou, ar
| bitrarily abolishing our birthriRht Of
free speech.
Here is how the bill starts off aft
er the preliminary "be IL enacted"
| That no letter. package, circu-
lar, pamphlet, postcard, newspaper
or other form of printed or writ
ten statement. or partly printed
and partly written, and no quo
tation of any prices or any other
advices, report, Information or
representation concerning trans
actions in securities sold or Of
fered for sale. or executed or to
be executed, or that are listed or
quoted on any stock exchange,
and no statement, account or
memorandum Of purchase or sale
/ or other information, notice or
demand regarding any purchase
or sale upon or on any stock eX-
change of any security shall be
delivered or deposited or carried
in the mail or at or through any
postoffice or branch thereof or by
any letter carrier, unless such
EXCHANGE has been Incorporated
under the laws of the State or
Territory In which its business Is
conducted, or unless the charter
and bylaws of such exchange or
the law under which IL is organ
lied shall contain regulations and
| prohibitions satisfactory 10 the
Postmaster General safeguarding
the transactions of such exchange,
the character OF the securities
dealt in thereon, the lnuineness
OF the quotations thereof and all
other Information concerning such
transactions that is to be carried
through the mails and by tele-
graph and telephone beyond the
limits of the State Of the organi-
cation of said exchange
Were ! addressing a purely fnan
cial audience ] would specify scor
OF pertinent objections to the prov.
sions of this revolutionary measu-q
But il is not for financial reasons tina
] would urge very citizen to rebe
against 1t; II is for the one ampl,
al embracing reason that II seeks I
obtain for Government officials-no
popularity elected at that1such pow
ers over their liberty OF action tina
even the Car or the Sultan of Fan
zihar would hesitate to ask Tn
right of every citizen. tie right o
every human being, 70 use the mail =
too sacred TO be tempered with saw
for the most urgent and exceptions
cause,
II is unthinkable that Congress Wi
seriously entertain this owen bill r
me il is incomprehensible how a ma
Of Senator owens wisdom and broad
mindedness a man who keeps I
touch with tho people and with tn
intelligent thought of the natlor
could have been prevailed upon to IA
Their such a barharic medieval chile
Knowing the Senator. and KNOWN
something OF his ideas OF what J
what. | can not even dimly conceiv
how he could have shut his eyes {
the abhorrent, the repusive propos,
TO lay hands so unnecessarily an
cavalierly upon so cherished an In
stitution as the mail service and al
lied means OF communication.
If there should -uneXpec dlN-a =
pear to be the slightest danger of III
measure being Countenanced by Con
gress. II will become the duty @
everyone possessing knowledge of IN
matters with which It treats to spea
out plainly and to dissect the hi
clause by clause.
A lot OF claptrap may he indulge
i'm by those brimful Of ignorance ol
The desirabiity Of Regulating stoc
exchange" preventing stock tohbin
frauds" bringing Wall street to Il
senses" etc. etc Those least handi
capped by practical knowledge Wi
no doubt, do the most prating.
!, "a my business to study sue
matters, and l can assure those VIII
choose to attach the slightest ere
dcnce 70 my word that the owen III
is as Objectionable a piece OF law
writing as ever came under their o
my notice,