Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1931-10-17
SAME OLD PROPAGANDA

read editorial which compmented John Bingham
New Mexico state examiner and made favorable
concerning his warning against getrichquck stock
ments and urging all who offered that Of securities
TO ask their bankers about it.
The editorial then proceeds to suggest any
carrying the legal Of ten per should be looked
upon with suspicion states that the best investment for
the and the person Of average in building
and loan stocks, bought regular payments After that
real estate under proper conditions, etc
nteigenty made we must take issue with such suggestions
which have served propaganda for the vested interests
for decades
Intelligence knowledge and common sense are the only
safe sound guides for making purchase Investment To
assume that the average banker supreme in these qualities
In order to play safe he against any
vesment bonds of the highest type unless he has some
Of another kind to sell Under present conditions he will
than likely recommend against anything which VIII reduce his
banks cash Actual instances our
enon recently where the subject and
the advice given without any investigation whatsoever
public dumb and minteligent that the average person
should be conented to remain doce and ut all their lives
without any attempt effort to better his her condition.
And it further preached that the smaller the interest
dividend rate-the safer the principal
ms Is only theory Hundreds Of millions Of es-
tate bonds have been based upon fictitious and sold
70 the public safe sound bonds because they carried low
PUBIC utnses ana railroads. strictly mutual building
and loan organizations Of the good old fashioned type found
Ohio Pennsylvania and many other other states are most
admirable organizations However thousands Of limitations
organized Tor profit and capazg the good reputation and
pia record q Dudng ana loan societies. have been
curing she past twenty years with names
like building and. loan companies the laws would permit
some OF THESE are splendid organizations and of them
not.
The point wish to make that low of interest or
small probable profits are not sound guide in determining
saIey OF principal that oil and mining investments
more safe and sound than real and
that as general thing much expected of the average
banker Because Of his position he advise the AVERAGE
man or woman to adhere to the saving method in his
attempt to reach independence the average person
interested in profits
Our advice Is to consult person honor and ntee
ry who intimately acquainted with the particular industry
Or business under consderatonus some expert on
auon ana promotion Such in position and have
knowledge to give true accurate picture Of inst
final action. ~ sa' yoAa 81
ms od bunk Of destroying the seIfconfdence OF the
public in their Judgment 50 that they win blindlv ~
gna5eyer the greedy Wall Street sharks tell them to do
noma pc exposed The supposedly mfallible BIG invest
nent bankers and international bankers with their advisable
influence thrn most financial institutions directly and indi
1, nave tngs SO seup that when anything goes wrong
ne puDhe Dames conditions instead of them individually
no are at least IN part responsible Albuquerque "Ol III