Evening star., 1926-05-23

Some time ago-perhaps but a few
centuries and again, perhaps, since
the time when the memory of man
runs not TO the contrary--it vas dis.
covered that there is a sucker born
every minute. Shortly thereafter,
or possibly concomitant with the orig
inal discovery it was found that for
every sucker born there was born a
wise guy to take him.
Nowhere in the known world is
the percentage of gullibility so high
and nowhere are the efforts of those
who gull the gullible SO startlingly sue
cessful as in these prosperous United
States. Sales of blue sky stocks that
aggregate an almost incredible volume
are made annually. Business promo
ton schemes of the most highly spec
ulative character are put over con-
stantly Mining, oil and real estate
ventures that haven't a thing to
recommend them except the absurd
claims and representations or the pro-
moters find thousands of eager IN
vestors. And on top of all that lamos
flock in droves to the stock. grain
and produce exchanges to gamble III
legitimate securities and commodities
at times and under conditions such
that it is certainty they will be
shorn Of all their wool by the pro-
fessional trades.
Newspapers, magazines. bankers
and conservative business men are
constantly warning the public against
this sort of thing, but apparently
such warnings do the leastN good
where they are most needed. The
suckers, in ever-increasing numbers
and with Unsuitable appetites. are al
ways ready for those who prey upon
them. Even victims of frauds and
of foolish speculations seem never TO
learn from experience, but come back
for more.
Nor are the gullibleS confined to
those who may be imposed upon be.
cause of their ignorance and lack OF
experience. Doctors, dentists, teach-
ers and even lawyers are numerously
to he found in all the sucker lists
that are compiled and used by the
sharpers. Business men who have
been shrewd and modestly successful
in their own lines are frequently easy
picking for the promoters of ques-
tionable enterprises. And 1t Is not 10
be forgotten that the story OF the
banker who goes wrong through spec
ulation, gambling or biting at q sure
thing proposition is a familiar one to
all newspaper readers.
Quick and Easy Money.
Students Of the problem say that 1t
is the very great prosperity OF Ihe g
United states that is responsible In
large degree for the high percentage
of gullibility Of the American public
Ever.vbody wants a share in this pros
perfty. and in far too many instances
the desire to get that share quickly
and easily becomes so strong as 10
overhal lance caution and sound judg-
ment.
A man accumulates a little money
perhaps by the hardest KIND or Work
and the most rigid economy ana ne
sees his neighbors prospering more
rapidly or hears OF strangers VIM
make fortunes overnight. lie oeclues >
that he wants a lot Of money, too. ano
wants Il in a. hurry. He tells hinseir
that what he has accumulated ism I
enough to do him any good ana that
he'd rather lose it than continue 70 De
a, plodder. When he gets himself IN
that frame Of mind he Is an easy marx
for the first salesman OF get'rlcn'
quick proposition who can get to nm.
And this potential victim. whose
name Ia legion, seldom waits Tor the
temptation to come to him. he goes
to meet the tempter more than nan
way. frequently he rushes into tne
stock market and CANDLES on margin
in securities that he knows nothlng
about, usually buying at the top OF
selling at the bottom OF wnatever
, CQfch. MOI
infreuuently he inquiries around Tor
Some Investment" that promises
large and immediate profits. There is
scarcely a newspaper of any size that
does not hear daily from one or more
of this type of sucker who has from
81 900 to $4,000 that he wants to
Mace where he may be assured OF
larger returns than he could expect
from, any legitimate investment.
OF course, these easy marks always
ak for something that is safe as
Well as profitable. Every one Is
familiar with the youth in Get Rich
Quick Wallingford," who went to the
promoter and begged him to take
$40 900 and invest 1t in one OF MS
schemes.
"As I understand it," said Walling-
ford. as his hands closed on the
bundle of currency, ''what you want
is an absolutely safe investment that
will paT you about 10 per cent a
month"
"Yes. Mr. Wallin2ford." said the
victim. 81 don't want to lose this
none" because us NIL I've &ot.e but
I do want TO make just az much as
| can, and 10 per cent a month will
be perfectly satisfactory to me-"
Ter, .Qer cent q month"; ana safety