The First Securities Law: Kansas Goes After the “Fakirs”

David Ress ()
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David Ress: University of New England

Chapter Chapter 4 in The Kansas Blue Sky Act of 1911, 2023, pp 43-62 from Springer

Abstract: Abstract Reservations about the paternalism inherent in Joseph N. Dolley’s Blue Sky Act emerged during the Kansas legislature’s debates, while Dolley’s supposed Progressive Republican allies split over the issue; while some joined him, others did not, and some rural conservatives came supported a measure that reflected their small communities’ patterns of commerce. Dolley claimed the law blocked hundreds of dubious ventures; the fees his office collected suggest a more modest scale of operation, and while the Banking Commissioner’s office did shut down a Ponzi scheme and two dubious irrigation offerings, it could not prevent Kansans falling for a fake railroad promotion.

Keywords: Blue Sky law; Kansas politics; Securities regulation; Fraud; Securities sales (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-43831-8_4

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DOI: 10.1007/978-3-031-43831-8_4

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