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the policing that is implicit in this suggestion is beyond
anyone's comprehension. It is an utterly impossible
thing to implement, and I say to you that as. you get back
into your history and into the days of Esau and Jacob, and ]:sai
a notorious consumer, regardless of how you handle this
problem or whether that law had been on the books then or
whether it will ever go on the books, you can't protect a
consumer against himself; and that is what this pretends
to do. That is what I think we are holding out, the most
indecent hopes to people that we cannot fulfill, and we
cannot hope to fulfill, and for that reason, I shall vote
against this proposal.
THE CHAIRMAN: Delegate L. Taylor.
DELEGATE L. TAYLOR: I rise in support of this
particular Constitutional proposal, mainly because in 1933
President Roosevelt decided to make some reforms to pro-
tect consumers at that time.
In 1933 the Securities and Exchange Commission
was established because so many investors were being
defrauded and victimized because of the policies of that day.
During that time Mr. Roosevelt was PRESIDENT. He said