The confidence imposed upon me by law as a public official does not permit me to expose their names to the public.

The intent is to take a profit from the losses of other people.

If these gentlemen have that sense of patriotism, which outruns immediate profit, and a desire to see the country recover, they will close up these transactions and desist from their manipulations.

But in these times this activity has a public interest.

Even though the effect may be temporary, it deprives many farmers of their rightful income.

I refer to a limited number of speculators, and I am not expressing any views upon the economics of short selling in normal times.

It has but one purpose and that is to depress prices.

It has come to my knowledge that certain persons are selling short in our commodity markets, particularly in wheat.

I do not refer to the legitimate grain trade.

It tends to destroy returning public confidence.

It is my sincere hope and expectation that this proposal which has been presented to and accepted by the nations of the world will revive confidence and promote prosperity among all peoples.