Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-12-21

ihOSA VI tHSIh Will
ing an interest in the bonanza oil
fields of west Texas
Never was it easier for the fake
promoter to operate than today.
Swinging from the conservation
practiced during the war. the
American people have come to
point of senseless spending where
they are literally begging some one
to take their money away. A state
commission investigating the high
cost of living verified this opinion
when it announced that a provis-
ion dealer divided his days supply
of hamburger steak into two lots.
marking part of it 20 cents a pound
and the remainder AZ cents. At the
end of the day all the Accent ham,
burger had been sold and not a
customer bought at % cents, al
the same.
/ listened to a negro cotton pick
err in Sweetwater, Tex, demand the
best socks in the store and take
six pairs at $3.50 a pair. The mer-
chant said that doubtless a pair of
those hose would be worn in the
field next day. Why not? The
negro was getting s12 a day.
And thus the merry whirl goes
on Easy come, easy go. Prices
Ri iclr
and the fake promoter fiourishes.
while the fool investors ride to a
terrible fall.
During the last two years between
10000, 900 and 100000 American
people who never were investors be-
fore have become capitalists by in
vesting in liberty bonds and war saw
ings stamps. Many Of them have no
knowledge of the principles OF In
vestment. Here is the chance for
the bunco man. The field of the
fraudulent promoter is easily widen
ed. and in order to take full advan-
tage of the occasion 1t is reported
that schools are being established to
drill statesmen whose business it will
be to trade worthless securities
promising a fabulous rate of interest
for government securities. Untold
numbers of fake scheme promoters
and regiments of investment sharks,
because of the popular ignorance as
to financial matters are pointing out
short roads to big fortunes to those
whose liberty bonds and war savings
stamps they hope to secure in ex-
change for pretty pieces OF paper
with a nice gold seal. These takers
know the value of a government
bond and they work on the theory
that their victims do not. They
know that these securities are bound
to rise to par and probably above
long before maturity. They frighten
their victim with the statement that
the bonds will decrease in value as
time goes on and that an exchange
should be made while the going is
good.
There is one way in which any
man can circumvent these schemes
if he has any interest in keeping
respectable distance between himself
and the poorhouse, and that is by
getting expert advice before he en-
ters into a financial transaction.
When we are sick we consult doc
tor; when we need legal advice we
see a lawyer, but when the invest
ment bug bites us, instead of con-
sulting a banker or broker of recog-
nized standing in our community, we
sneak up an alley and pass over our
hard-earned cash to some one who
has hypnotiZed us with his fairy
story of sudden wealth. Finance is a
science every bit as exacting as med
icine. II you believe that the pat
ent medicine doc" in the hack at
the corner of Main street on Satur-
day night can do more for you with
his cure all than your family physi-
clan, why, then. accept the word of
the smooth tongued promoter and
shun. your banker.
Your mental caliber is estab-
lished. But if you want to get on
in life learn to lisp blithely whom
the promoter gets his foot in your
front door. I'll see my banker
first" you will find that this blue
sky salesman has for his motto.
DO it now" He does not wish
for careful investigation. He will
probably advise you that your
banker will not give unbiased ad-
vice, because he himself has stocks
to sell But you can take a chance
on that. because your banker is
figuring on living in town a few
years. whereas your new-found
friend has committed to memory
the time of the next train going
south before he rang your door
bell.
Your banker will tell you a num-
Der of interesting things relative to
the wisdom of trading your liberty
bonds for questionable stock, as
follows:
l. That il your liberty bonds
are not good then no stock you
can purchase is worth the pa
pers it is printed on. They are
backed by the strength of the
United States government, and
if that fails every private en-
terprise in the country will col
lapse.
2. That the greater the rate
of interest you are promised the