Every evening, Wilmington daily commercial., 1922-09-08
Washington's Wise and Otherwise
BY Frederic J. Haskin.

washington, Sept. ss--hmc'iesp +
a,,,..n. u,bo come 10 Waehington ~
tho Government service. "netpsr ~
oioc,ive Offices. such an those OF sen
ator and Representative In congress-
mr. 10 appolptive Offices. learn a gre
deal about practical business metnoos
I'd nance. The Government s 80
cioaeIy allied With business mat lhe
aa,vante OF IT, Government arc
thrown into close contact WIN ~
great business machine
These officials may be diVioeh INTO
TWO groups. differentiated by ,he
hinge which they learn conceehihs
rational business AFFAIRS. one group
10 that which learns from the tip~ters
and lobbyists. This groups empef
may be sub-divided into those VINO
90 home broke and those who 20 nome
rloh the former sadder but wieer men,
Inc latter often with occasional pr1cKs
from their consciences. The other gem
s,al group is composed OF those VINO
annlv themselves 70 a ~scientific STUDY
~ the information which their rune
{ tions Ieaitimateiy bring before tnern;
q Tnese usually stay u OF business
e~ntirejv or 20 INTO IL in a manner 80
= cautious that they are successful.
= In every group OF men, wnetner
q they are ditch-diggers or statesmen
y here VIII be found some susceptieie
r 10 the Waliingford call Of get ricn
Q o,tick. The halls OF Congress and the
n sn.a-rooms Of executive Offices OF the
Ell Government will have just as many
lobbyists and sure-thing men In them
az feel thev viii find a welcome. Inc
n number of both elective and a~ppointlVe
.e officials who do welcome such para
% sstes has been growing fewer and
fewer every year, but there are some
le left.
Of The Lobbyist who seeks 70 curry IA
T. var with a member OF either House
10 or Senate frequently will give hin
tins on the stock market. Not infre-
~ouen.ry these statesmen act upon such
IN information. Sometimes the tips are
n good. More often they are not. But II
Is a part OF human frailty that tbs
~ gambling temperament never loses
hope and so tips continue 10 be taker
=. and acted upon. There rave been not 2
few instances Of country lawyers. doc.
tors. store-keepers. or farmers VIII
- nave CpIflS W WdfiiAAiS WI 0f< 49,
ls beguIied by the lobbyists and tn
" smooth confidence man. Most Of n e
~ go home Ike shorn lambs.
What Wise Ones Can Do.
I'D nrovc tg +ha cs-e-u, an
conservative one-the scientific stu
en- dents Of economic affairs. Probabl
o there Ia no place in the world vher
so much information is available con
-. s<. - al
Of this nation but Of the nations c
,ee all the world, az in Washington. Thi
-s? information is available TO everyon'
S but the men who come TO Washing
nd ton have It thrust under their yer
he noses, while those absent must ser
Of for II.
nor The wise onee at Washington stud
the these data. They can obtain reports
he utmost value from the Departmei
OF Commerce. the Treasury Depar
mo ment, Federal Reeerve Board, ID
r. partment Of Agriculture. Intersta'
I'd Commerce Commission, Federal TRAD
10, Commission and many other source
This information Is open to anyone.
81. A good case IN point may be cite
A year ago reports received n MAJ
public by the Department Of Artcu
ture showed what the indication
- would be for crops Of cotton, not on
in thie country but in the whole worl
for the coming year. Reports Of Q
Census Bureau showed the rate
10 American consumption and reports
the Bureau OF Foreign and Dopes
100 Commerce showed the rate Of co
ace sumnt,o, IN tho ,axt,,4 mills ne p,
the GUM. England, France. Germany. a
o. the Orient, as we'll as IN all 9th
countries. No single report woJ
meal a great deal. But the man W
took all these reports and stud
them learned that II was as inevitaf
as the succession OF night and d
that the price of cotton would RI
t. Every one knows that the price
cotton-last fall a dirt-cheap bargs
has risen notably.
The students among the Washin
ton officials who We're able 10 take a
vantage Of this information bong
cotton last year. They now have ma
substantial profits.
The same is true Of the ste
market. The first group governed
the tipsters, buy on margin becal
of some stray fragment of inform
. tAOli pdSScu d4OAS. - SAAGAA 4Au1lN
ton in prices, such as no man can fol
see but such as a small group in w
Street a manipulate, wipes out su
spectators. The studious Washir
tonian buys stocks not on margin I
outright. The momentary fuctuati
cannot disturb him. His purchai
are based on a knowledge of the 81
ply and demand of various comma
ties in the country and what they
likely to be for a long time in
vance. He cannot be fooled.
merely hangs on until the price
his stock rises TO a point where
believes the inevitable reaction '
set in; then he sells and takes
profit.
What q Big Market May Near
Recently there vas a million sh
day on h New York Stock Exchan
This generally was heralded
brokers as an indication Of grow
prosperity and they encouraged
public TO buy the stocks which W
being offered.
Immediately afterwards a cl
care student OF national and internatio
affairs made the following analyst!
ough IF a million shares We're traded
they had to come from somewh,