The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1919-01-23

uE2XE8u is selling at a discount because thu integrity Of public credit
MM ~ something Of which every good citizen should be personally
Xxx jeaous-s not upheld. Properly sensitive to any onense against
USMXS the counrys flag are the American people; equally sensitive
- should they be to any dissertation of the countys bond. The
private individual the private firm or corporation, if it have regard for its
of its honor, and it will go to any possible honorable length to protect its
paper The United States bond. which las behind it Unreasonable resources
of wealth and thu inestmable credit OF the richest nation in the world. is
being deprecated to suit the necessities of spectators and financial schemers
For months the United States mails have been used for the transmission
of letters and circulars addressed to persons presumably in possession of
Liberty bonds informing them how easily they might use capital o tied up
at a low rat of Interest in the purchase of shares in companies which would
SO the circulars nave asserted, double and, perhaps. quadrupe and quintuple
their incomes The literature employed. al a rule, is skifuly prepared, and
the propositions. whatever they may be, Ire atuachvely presented 1t would
seem as if the names of Liberty bond purchasers had been obtained, in some
way and usually it is the moderate buyer of those national wr securities
~ s sia satm the NIdd,s w%st, sona 500 M oOo ~ Iihsrtvb bond bove
Sc ar been exchanged for shares in mining n oil promotion companies of
questionable standing. and that the unloading of these bonds upon the market
recently, with those gathered in by financial schemers in other partso of the
country, contributed toward the decline in their market value. The success
SO far achieved by tn mine and oil stock promoters, and by others Offering
opportunities for getting rich quick" has, it is believed, sc whetted the
appetite of the INSCRIPTIONS that they are rebuilding their efforts to find
Itisa sad commentary upon the administration of the law in the United
States it, Notwithstanding the legislation enacted to prevent misuse of the
accommodation Of an army of swindlers. The question o. protecting the
Liberty bond and the Liberty bondholder has been taken up in Congress
recently; it is being discussed in several of the states. Edward S Brogan
tbat nnscmnulou Promoters Of worthless financial enterprises had taken
advantage of many small bond buyers ignorance of market affairs to start
a selling movement in the market, that holders of government securities
might be induced to exchange them or stocks OF fictitious value, and IN the
strength If his announcement o this discovery, Senator Loring N. Black, of
the New York Legislature, proposes to introduce a bill into that body or
the enactment of a "bue sky law similar to those in force in thftyon
of the states. With reference to the matter he has written Mr.. Brogan, in
part, as follows:
called stock brokers for Liberty bonds has strengthened my belief
hal III State or NeW YORK nould nav son FORM OF De SKY iW
m its books. A great many states in the Union have such
laws, but some of them seem very drastic and a hindrance to 1egti-
mate business.
1t must occur to thinking people, ont would suppose, that this is a matter
not for state, but for federal action, and it must flash upon the thought of
wel-informed people that the remedy is already provided. Laws carrying
heavy penalties are to be found in the federal statute book which, if enforced,
would Don prevent the United States mails from being used as a vehicle for
and an accommodation to INSCRIPTIONS stock promoters. The nation las the
laws; it also has an excellent secret service; it has all the machinery for
detecting, arreshng, indictng, trying, convictng and inprsoning violators
Of postal regulations If it is really intended to protect the people who
responded to the appeals of the country in behalf of the different Liberty
loans, why is not this machinery put in motion?
There is something more than a few cents on the dollar involved in the
denraciafon Of Tjhartv honds there is thu question of atOna bride
national honor. and there is the question of common soicitude or and common
gratitude to those who in the time o. it's trouble were ready to make any
sacrifice within their power for the countrys sake. Believing this Is all
true, and good, and patriotic, The Silver State thanks The Christian Science
Monitor fol h use of it's article.