Show KANSAS SENATOR UR ES EDUCATION IN savings lost to stock sharks Ll total vast yearly suna learn first fittl after Is in ilia advisee to new investor inventor hy by ARTHUR gappen CAPPER editors Edl tora noty note senator arthur capper ot of kansas ivas was tor for many years yeara licad hoail of ft a string of papers loth both dally daily and weekly tho the latter tann farm papers with immense circulations thousands sands of letb subscribers ribera foil fell victim to bonwith mon with stock and blue sky sales salaa and thousands of thom wrote I 1 to tile the editor aud and publisher asking his bis advice in ili tile the following lie ho gives that advice to all who cara care to read and as aa senator copper capper B s entire life Is indication of careful advancement iu superior business judgement jud gement gomont and the confidence ot of hla his follow citizens what 4 lie hits has to say may be the advice ot of one who knows among all tho the impressive evidence evl donca of american solidarity during tho the war hardly any was more awakening than the subscriptions to the liberty loans loana the country had not suspected tho the potential capital fund of tho the american people it was amazed hy by tile tho response of tile tho people to tile tho ap all pon peble of the government tor for funds and this astonishment grow grew as aa one groat loan drive followed another in swift there seemed to bo be no bottom to tile tho popular purse as aa there was no faltering in popular patriotism moro more than 21 million subscribers offered nearly 7 billion dollars for tile tho government bonds this was tile the culmination the fifth loan was vas tor for a smaller amount which was waa oversubscribed like all its predecessors ilare out of tile the income ot of two years a minimum of 21 millions per oria had subscribed tor for some 22 bit lions of war loans loana only hooks showed until this exhibit of the potential p or capital fund of tho people tile only concrete con conc croto rett indication ot of this fund was tho the books of tile the sayings savings banks which prior to the war showed upwards of it 11 million depositors with lia balances lances of above 6 billon dollars and t may bo be remarked incidentally liere hero that throe three years yeara after the war notwithstanding tho the huge liberty hond bond payments savi deposits not only have not declined but have increased by a billion dollars do llara with an ail increase not net of depositors the effect produced by this extras demonstration of tho the sayings savings capacity of the people Is seon seen in several organizations governmental and private since formed to promote saying saving and thrift by publicity propaganda tho the treasury department conducts I 1 such a Pubic ity campaign the reserve banks also and one or two private organizations all urging tile tho people to savo save in while tho the government and other agent agencies los are very native in endeavoring to induce people to savo save it is evident that such buch a campaign Is directed to the non savers and tile tho only systematic to help tho the bivers to preserve their savings by judicious investment Is a constant campaign in behalf of treasury notes short time investments on tile the other hand there Is uninterrupted ted bombardment of 0 savers by swindling stock promoters and art an oven even mora more injurious crusado crusade by well td moaning caning but ill advised promoters of new enterprises wholly untried usually undercapitalized under capitalized in such speculations as oil all and mining and similar ventures at a hearing before tho the judiciary of tho the house in the pros ros clit session of Con gross the federal hoard board asked for additional legislation to protect savers from swindling stock jobbers the board malting the statement that in the last year these swindles had taken from tl th 0 american people more than halt half a billion of their saved capital probably injudicious took a very much larger sum aum I 1 private engaged in legitimate git imato bond mortgage and other it seems seema to roo mo should akaka adako to tho the duty of educating tho the 21 million ot of capital in fit thi the united states in ili caring for their capital once saved the people need a campaign I 1 of primary education on oil what capita Is investment la is they unstintingly de deny ny themselves luxuries in ili order to save eave anti and billions of this saved capital ot of in calculable value to tho the naton and all its ita industries are w wasted asted in speculation j aro ignorant students of this subject report that it la Is not the untrained mechanic me charile and artisan alone who la is ignorant of tile the A it I 1 0 of 0 investment but among tho the of promotion ara ar merchants professional men an and deven oven bankers billions ot of dollars wesly invested evory every year which heretofore havo boon been dissipated in speculation will evidently have a capital effect in mitigating igat lilg business depression and unemployment an increase suca as it seenia seeing there is an ail opportunity to secure in tile annual increment of saved capital that will bo be permanently saved by sound investment in ont will by steadily enlarging the national capital capet fund at a greater rate than heretofore lawor the cost and price of capital give to every kind of enterprise it a greater sence of security and courage to a i lowered price level and cost of lying iving consequently a higher standard of living the country should not permit th opportunity to slip by which the liberty loan experience opens to it of adding yearly to the capital funi fund the groat great savings of the people A oy systematic intelligent organized attempt should bo be made to counteract tile the propaganda of promoters not merely in ili tile the negative way of legislation asanet criminal practice but by positive propaganda set setting ting forth tile tho super superior for attractions atti actions of first in ili investment beware Ilowit io promoter it is a large larga undertaking to got get to tho the people the batty first idea but worth whatever effort Is necessary the promoter appeals to raw cupidity to that propensity to speculate to accept a chance to gamble on oil the future which is instinctive in nil of us ile he la Is no in mean ail hypnotist ind and endeavors to put canutt caution 0 n to sleep anti and by su of all conflicting impulses and ad ideas intensity intensify y tho the passion for quick gain ills propaganda Is alluring but there Is self breser in security ity in retaining what one has these aro are also primary human instincts and bre aro capable of being played on effectively if one can got get tho the knack of it |