Show i I I I Prudence I a Grave rave Essential a the Pujo it its ill cs t Y W temporarily at t least it H has lias made madet t no statement of I its its' conclusions and the country coun COUll h try must await its pleasure From tho the mass of in information information in- in formation o secured the nati national nal importance of t man many of the thc witnesses examined and their jail jail- I mate c cOnnection with the commercial and financial J i I structure ure of If I he the nation we may ma assume that hint the committee has ample facts upon which to base baseI I remedial legislation While it its recommendations ons i will nm be important they will not necessarily be bo final t r they must battle battlo their way through louse House and 1 t Senate and past the President before the they arc writ writ- I 1 J ten en upon the statute books hooks I It lt was impossible from the press reports of or the thet II t committees committee's proceedings proceeding's to obtain more than an au imperfect idea of the facts established 1 Yet there 1 is js little doubt that hunt enough evidence C was secured to I prove the thc existence of a condition that m l must t be beI I 4 ramo c removed either through force of an awakened I l e public sentiment or by legislation It has been csIr cs- cs 1 Ir J 1 beyond a reasonable doubt that a few men i r I control to an improper degree the constituted meI medium mel me- me l I of exchange and that a situation impossible J V J in free Amel America ca has aris arisen n that demands relief t. t Tho full details the committee was unable to get and tie the fault lies with itself in attacking such a f grave question more as a matter of political e c ex- ex V tAx t-tAx s u fI fit in r nf f H 11 1 til ho a Tin nit m f un v. v U J 1 I T Every patriotic American will regret if unusually yI I drastic legislation should be the outcome of this tiLis ini inaI in- in i tl aI Conditions may be bu as lamentable as the rodI rod rod- I but i it is certain they cannot be improved im im- proved by an in ill advised statute If a small group F I- I I of hOus houses s has assumed the self imposed I task of guaranteeing guaranteeing- and underwriting great financial finan- finan I I cial cia enterprises it should be remembered that the I duty was in part forced upon them by lack of governmental gov- gov t r t supervision For or the thc absence of such fedI federal fed- fed I eral control the people themselves are arc responsible There must muse be somewhere some orne directing ng power t I so some authority that prevents wholesale fraud in tho the marketing of securities Unfortunately the law up upi i I I to this time has lIas contented itself with merely punI pun- pun I those responsible for the tho fraud after it has i. i been committed which is but poor consolation to r those that have been deceived i If Ii the committee will reflect that conditions aro i I i partly the result of public sloth and indifference I t I and partly a a. natural outgrowth and Avill ivill frame its i I legislation with a view to gradual correction it is possible that no disturbance may result If it attempts attempts attempts at- at tempts to upset by statute and in a n brief period of or orI J I 1 time an arrangement nt that has slowly arisen by force I of circumstances it w will lI unsettle f financial and F r commercial affairs and conduce to a business dc- dc I I alike disastrous and unnecessary 1 The financial giants who ho through interlocking t directorates voting olin trusts and similar devices have I secured control of an au astonishingly great proportion t tion of the mone money of the nation are not riot criminals i i. i the they are arc good citizens whose honor and probity is t t 1 arl to them They are as much the he victims i s of circumstances cir cir- cir cir- as is the tho ordinary citizen who believes ies c f their methods to interfere with his livelihood The necessity th that t they should protect themselves and 1 that they should assume the control that properly belongs to the government g that refused to take it compelled them to the they p virtually usurp usuri power I t- t are arc using f f Moderation should be bo employed in bringing reform There must be a gradual readjustment that t will vill slowly correct a status for which ii no individual id nl e is wholly responsible but for which h tho the people themselves s must confess accountability I t I t J sa J 1 r pa P I |