The Daily Alaska empire., 1929-07-11
M-. Raskob Viii Render Great Service.
Engineering and Mining Journalo

Engineering and Mining Journal)
 To discourage the fleecing of the small investor of nearly $l OoO 100000 per annum in the United States alone we have what known as the bue-sky laws State provisions limiting and con- trolling the issuance of stock to the public, and corrective action by the Post Office Department which occasionally prosecutes when evloence IS available that the mails have been used to oefrauo The various Better Business Bureaus have also done excellent work at least in keeping crooks on the move But no agency to date has tackled the prob lem from the obvious, logical angle that 1t were better to provide attractive, sound investment for the man of small means and savings than to wait until fleecing process is completed and then convict eff possble the crook. To MT. John J. Raskob must be given the credit of proposing scheme of investment that should insure security for savings, and reasonable interest rate, to say nothing of an appreciation in sale value of selected securities Synchronzng with national industrial pro- gress.
 MT Raskob himself is multi millionaire, to whom great commendation is due for solicitude displayed toward those with lesser opportunities who have chance to repeat, small scale, what the wealthy business do on a large scale. Another significant step forward in social reform will have been taken when MT. Raskob's proposals successfully consummated
 q have been asked a good many times about the secret of wealth." he has said There really is no secret Generally, wealth is acquired by embracing opportunity. And there is opportunity in this country for every to obtain share of inde- pendence I hope to establish medium that will bring opportunity closer to large number of peo- pie. We shall offer the services and judgment of experts, such they could never obtain otherwise Purchase of stocks will be made with an eye to basic security rather than large earnings In no sense will they be speculative. But the fact re- mains that common stock holdings in industry may be both profitable and sound-as sound as our coun- try and national ideals. It is my impression that the average has not heretofore had plain and sufficiently wellguarded opportunity put before him to share in wealth he creates"
 Only few individuals can become multi-mil- lionaires, the number of millionaires, relatively speaking, is not large, and comparatively small proportion of the population of the United States is wealthy. In the aggregate there is prosperity but if we define the term with precision it must be admitted that in reference to the great majority. it means than good food adequate cloth Ing and clean linen, protection from the elements modern plumbing facilities, and moderate diversions Insurance against accident for the benefit of the nsured) and against death for the benefit of the survivors, has increased and facilities for stock participation being enjoyed by employees in almost every industry
 But MT. Raskob goes further. His plan offers nope that the earner of even a small salary who possesses the will to save, can avoid the pitfalls of fraudulent promotion and share with the capi- tailst an interest and appreciation return in keep Ing With the financial gains made in the great industries including mining. The scope for fraudu- lent promotion will be severely decreased should MT Raskobs plan be introduced and vast amount or capital diverted into legitimate and profitable industrial channels, to the benefit of all concerned