The herald and news. (Newberry S.C.) 1903-1937, December 06, 1907, Page TWO, Image 2
PRESIDENT'SMESSflGE
TIlO president III hlH IllOSSIIgO to congress
says:
No mi(Ion Ims greater resources thai)
ours, and I think It win be truthfully
hiiId 111itl tlu? citizens of no nation possess
greater energy and Industrial nhll- |
lt.v. In no nation arc (tic fundamental
business conditions sounder than In {
ours at this very moment, and It Is |
foolish when such Is (ho oaso for poo- I
pie to hoard money Instead of keeping i
It In sound banks, for It Is suci^iosird- |
ing that Is tlx* Immediate occasion of J
money stringency. Moreover, as a
rule, (ho business of our people Is condueled
with honesty and probity, and !
tills applies alike to farms and fac- j
lories, (o railroads and banks, to ail
our legitimate commercial enterprises. !
In any largo body of men, however, j
there are certain to be vomo who are
dishonest, and If the conditions are i
such tint those men prosper or commit ]
their misdeeds with impunity their 1
example is a < er> evil tiling for the !
community. Where those men are j
business uen of givn' sagacity umbo'" |
temperament bo'h unscrupulous and j
reckless, "in 1 >v here Mi<* conditions are
kiicIi that I hey act without supervision I
or control and at tlrst without effective
''heck fl'olil public opinion. lliey delude
many Innocent people Into making in
vestments or embarking in kinds of
business that are really unsound. When
the misdeeds of these successfully (lis
honest men are discovered, suffering
comes not on l.v upon them, but upon
Die innocent whom they have misled.
II is a painful a w akeniir/, w henever It
occurs, and ii.-i ' urn 1l.v when it does oc I
cur those who suffer are apt to forget
that the longer il was deferred the
more painful il would be. In the effort
to punish I lie guilty II Is both w ise and
proper to endeavor so far as possible I
to minimize the distress of those who
have misled by the guilty. Vol II
Is not possible in refrain because of
such distress from striving to pi11 an
end to the misdeeds that are Ihe ulli
mate causes, of the sulfeiing and. as a
moans this end. where possible to |
punish I ho e re p.nisible for them j
There lna,\ lie lloiiesl differences of I
opinion as to many governmental poli j
cles, but surely there can be no such
differences as lo the need of unllinch
big perseverance in the war against
successful di honesty.
Intur.nlato Commerce.
No small part of the trouble that we
have come:* from carrying lo an ox
Ironic the national virtue of self roil
ii lice, of independence In Initiative
and action. II Is wise lo conserve tills
virtue and to provide for Its fullest
exercise compatible with seeing Unit
liberty does not become a liberty to
wrong others. I'nl'ortunately this Is
the kind of liberty that the luck of all
effective regulation Inevitably breeds.
The founders of the constitution provided
that the national government
should have complete and solo control
of Interstate commerce. There was
then practically no Interstate business
save such as was conducted by water,
and this the national govcrnmoni at
once proceeded to regulate In thoroughgoing
and effective fashion. Conditions
have now so wholly changed that Ihe
Interstate commerce by water Is Insigill
Ilea ii I compared with the amount
that goes by laud, and almost all big
business concerns are now engaged in
interstate commerce. As a result It can
he but partially and Imperfectly con
(lolled or regulated by the action of
nny one of the several states, such action
Inevitably lending to ho ell her
too drastic or else too lav and In either
case li'.elVociIve for purposes of Justice.
Only tin' national government can In
thoroughgoing fashion exercise Ihe
needed control. This does not mean
that there should be any extension of
federal authority, for such authority
already exists under the constitution
In amplest and most far reaching form,
bill It does mean that thole should be j
an extension of federal activity. This j
Is not advocating centralization. It Is |
merely looking facts In Ihe face and
realizing thai centralization in business !
has already come and cannot be avoid
oil or undone and that the public at
large ran only protect itself from cert
In evil effects of this business centralization
by providing better methods
for the cxoriMse of control through the
authority already centralized In the
national government by the conslltu- j
(Ion Itself. There must be no halt in
(he healthy constructive course of action
which this nation has elected to
pursue ami has steadily pursued dur- j
lug Ihe last sl\ years, as shown both
In the legislation of the congress and
ihe administration of the law by the
depart incut of Justice.
National Liconso For Railroads.
The most \ltal need is in connection
with the railroads. As to these. In my 1
Judgment, there should now ho either
a national incorporation act or a law !
licensing railway companies to engage
In Interstate commerce upon certain
conditions. The law should be so
framed as to give to the interstate
commerce commission power to pass
upon the future Issue of securities,
while ample means should be provided
to enable the commission whenever In
its Judgment It Is necessary to make a
physical valuation of any railroad. As
1 slated In my message to the congress
ii year ago. railroads should be given
power to enter into agreements subject
to these agreements being made
public In minute detail and to the consent
of the Interstate commerce commission
being tlrst obtained. I'litii ^
(ho national government assumes pro]
or control of interstate commerce i
the exercise of the authority It a 1 read
I possesses It Will he Impossible elthc
to give to or to get from the railroad
full Justice. The lull roads and all ot!
or great corporations will do well i
recognize that this control must com
The onl.v question Is us to what go
ornmontal body can most wisely oxe
else It. The courts will determine tl
limits within which the federal autho
Ity fun exercise It, and there will stl
remain ample work within each stal
for the railway commission of tin
state, and the national Interstate con
mereo commission will work In hn
mony with the several state cotnmli
fdons, each within Its own province, t
achieve the desired end.
Tho Antitrust Law.
Moreover, In my Judgment, ther
should he additional legislation lookln
to the proper control of the great Ims
ness concerns engaged In luterstat
business, this control to lie exercise
for their own benefit and prosperlt
no less than for the protection of li
voslors and of the general public. A
I I id vu repeatedly said in messages t
congress and elsewhere, experience ha
definitely shown not merely the unwb
loin, but the futility, of endeavoring I
put a slop to all business combination*
Modern Industrial conditions are sue
that, combination Is not only necessarj
but Inevitable. It Is so In the world o
business Just ns It Is so In the worl<
of labor, and it is as Idle to desire to pu
nn end to all corporations, to all hi
combinations of capital, as to desire t
put nn end to combinations of laboi
Corporation and labor union alike hav
come to stay. Much If properly man
aged Is a source of good and not evil
Whenever in either there Is evil I
should be promptly held to account
but it should receive hearty encourage
meiil so long as i! Is properly managed
II is profoundly immoral put o
keep on the statute books a law nonil
nully In the Interest of public rnoralll;
that really puis a premium upon puli
lie Immorality by undertaking to for
bid honest men from doing what inns
Iie done under modern business condi
(Ions so that the law itself provide
that ils own Infraction must lie th
condition precedent upon business sue
cess. To aim nl the accompllshuicn
of loo 111111 11 tisuall.v means the accom
pIi hincnl >>l' too lilllc and often the do
ing of posil i v<> ihiinago.
Not Repeal, but Amendment.
The antitrust law should not be ri
pealed, but 11 should be made botl
iiioiv etlii'leiil mini more in harinon;
v\ilh Mi'lnul conilillous. It' should b
mi amended as lo forbid only the klm
of comblnalioii which does harm to th
general public, such a mend incut to b
a mpauied by or to be an Incident o
a grant, of supervisory power to th
government over these big concern
engaged In Interstate business. Till
should be accompanied by provlsloi
for the compulsory publication of iu
counts and the subjection of books urn
papers to the Inspection of the gov
eminent officials. A beginning has al
ready Ikmmi made for such supervlsloi
by the establishment of the bureau o
corpora t Ions.
The antitrust law should not prohibl
combinations that do no Injustice t<
the public, still less those the existence
of which Is on the whole of belief)
to the public. Rut even if tills featur
of the law were abolished there wonli
remain as an equally objectionable foil
ture Hie dllllcully and delay now Inel
dent to Its enforcement. The govern
niont must now submit to Irksome am
repeated delay before obtaining a llna
decision of the courts upon proceeding
Instituted, and even a favorable do
cree may mean an empty victory
Moreover, to attempt to control thesi
corporations by lawsuits means to Im
pose upon both the department o
Justice and the courts an Imposslhl
burden. It Is not feasible to carry oi
more than a limited number of sue I
suits. Such a law to be really oft'oc
live must of course be udmlulstcrei
by an executive body and not morel;
by means of lawsuits. The deslgi
should be to prevent the abuses Inel
den! to (lie creation of unhealthy ant
Improper combinations Instead of wait
lug until lltoy are In existence am
(hen attempting to destroy them b;
civil or criminal proceedings.
Law Should Co Explicit.
A i iblmitlou should not bo tolcrat
ed if li abuse the power acquired bj
combination to the public detriment
No corporation or association of an;
kind should bo permitted to engage li
foreign or Interstate commerce that 1:
formed for the purpose of or whosi
operations create a monopoly or gen
oral control of the production, sale ?>
distribution of any one or more of tin
prime necessities of life or articles o
general use and necessity. Such com
blnnlions are against public policy
They violate I he common law. Tin
doors of the courts are closed to thosi
who are parties to them, and I bollovi
the congress can close the channels o
Interstate commerce against them fo
ils protection. The law should inaki
Its prohibitions and permissions a
clear and definite as possible, loavlni
lhe least poss'lble room for arbitral';
vet Ion or allegation of such action ot
the part of the executive or of diver
gent Interpretations by the courts.
Among the points lo be aimed a
should ho the prohibition of uuhcalth;
compel it ion, such as by rendering sorv
ice at an actual loss for the purpose o
crushing out competition, the proven
tlou of inilation of capital and the pre
hibition of a corporation's making ox
elusive trade with itself a condition o
having any trade with itself. Reason
able agreements between or combina
Hons of corporations should br pot
milted provided they are tlrst submit
[>" I ted to and approved by some appro11
prlnte government body,
y >
,r Congress' Power.
jg The congress has the power to charter
corporations to engage In Interstate
h- and foreign commerce, and a v vral
lo law can be enacted under the pr??vle.
hIojis of which existing corporations
v- ; could take out federal charters and
r- , ?? / federal corporations could bo ere>e
uted. An essential provision or such a
i'- | law should Ih? a method of predeterd
mining by Koine federal board or comt0
I mission whether the applicant for a
i federal charter was an association or
'* | combination within the restrictions of
r* i the federal law. Provision should also
a* be made for complete publicity in all
? 1 matters affecting the public and com
plete protection to the Investing public
; and the shareholders lu the mutter of
e Issuing corporate securities. If mi ing
corporation' law Is not deemed ad visaI
j ble, a license act for big Interstate coro
; poratlons might bo enacted or a com
<1 , bination of the two might be tried,
y | The supervision established might lie
i- ' analogous to that now exercised over
h national banks. At least the millo
trust act should be supplemented by
s j Hpeclllc prohibitions of the methods
j which experience has shown have been
o i of most service In enabling monopolis<.
I tic combinations to crush out coinpellh
i tlon.
r, j The real owners of a corporation
f should be compelled to do business in
d i their own name. The right to hold
t i stock in other corporations should hereg
! nfler be denied to interstate corporao
; lions, unless on approval by the proper
\ | government olllclals, and a prerequisite
o to such approval should be the listing
i- I with the government of all owners and
I. 1 stockholders, both by the corporation
t j owning such stock and by the corpora,
lion in which such stock Is owned.
Lessons of Rcccnt Crisis.
To confer upon the national government
in connection with the amendment
1 advocate in the antitrust law
power of supervision over big business
, ! concerns engaged In interstate com.
j inerce would benefit them as it lias
, I benetlted the national banks. In the
i recent business crisis It Is noteworthy
j that the Institutions which failed were
institutions which were not under the
. ! supervision and control of the national
government. Those which were under i
national control stood tlx.' test.
National control of the kind above
' advocated would In; to the benelit of j
' every well managed railway. From
the standpoint of the public there Is
! I
: Your Co
i- 77/6- jRcxafl formulas ,
^ have always known th
| given them to thousan
t here is where Rexall Rt
? more to protect you th;
t by the Pure 1'ood ant
e Von only know the
l! remedies?tin; rest of
J* secret. You have alw
i- every Rexall Remedy.
1 No Rexall Remedy i:
H 300 different remediesf
?the most reliable ai
that ill proven l>v years
sold these Rexall Rem
f plan on which merchan
e have guaranteed to rcti
| purchaser who came ba<
or package and said thai
1 Tied?and we've never
[ a guarantee.
The Pure Food Law
1 ! | change in Rexall Remi
j I has set the stamp of ap[
1 3 of all, you can actually
!| dies are unchanged.
I four years ago, and yo
I today!
I Don't the Rexall Rem
I fidence? Wouldn't ye
^ I man whom you had pro\
a | est, than one who was h
I be? You know thai Re
l. I voluntarily manufacture
f | in the very way that the
| the only rig/.'! way.
2 FOR NERVES?
t Rexall Aniericaniiv* Klix'r is <
r It i.? a tonic nove to >d comim.
} III vcophosphatcs. lion Tyn ciio
I The woiuh i tvil icm.Its of t'.iis vi
s supplies riio^phoms to the in rve
? : ^ can bo immediately ar.d easily tal
' | The Cilycophosphates, actual
[ the most tccc.it atul valuable ;:d?l
| r and unquestionably a tnoie t tin :>
I J 11vpophosphstes.
I * The Iron Pyrophosphates are I
j. ' t <f iron which give tone and color
<'.i!>av:\ 11.uk have a tonic et'fe
^ Ul t b. v'v, 7.V. and a bottle
; 1
I CILDER & WE
THE
need for additional tracks, additional
terminals and Improvements In the ac- j
j tual handling of the railroads, and all |
this as rapidly as possible. Ample, j
j safe and speedy transportation fnclli1
ties are even more necessary than
j cheap transportation. Therefore there
Is need for the Investment of money
| which will provide for all these things
while at the same time securing us far
as Is possible hotter wages and shorter
hours for their employees. Therefore,
while there must he Jusi and reasonaj
hie regilatlm of rates, we should he
the (irst to protest against any arbitrary
and unthinking movement to cut
them down without the fullest and
most careful consideration of ail Interests
concerned and of the actual needs
of the situation. Only a special body
of men acting for the national government
under authority conferred upon It
by (lie congress is competent to pass
Judgment on such a matter.
Those who fear from any reason the
extension of federal activity will do
well to study the history not only of
the national hanking act, but of the
pure food law, and notably the meat
Inspection law recently enacted. The
pure food law was opposed so violently
that its passage was delayed for a
decade, yet it has worked unmixed and
Immediate good. The meat Inspection
law was even more violently assailed,
and the vame men who now denounce
the altitude of the national government
In >-eoking to oversee and control
the wor kin ;;. of interstate common carriers
an.! lr:f.i:.e.s concerns then as- ,
;-e"!c 1 that v.e were "discrediting and
! " Ii a g'.vt American industry." [
Tv.ii ! >vc not elapsed, and al- .
re:: i: I .1 become evident that the
r v: " - .'I' la v.- confers upon the
I "; > : ! \ ti d I y ti:i equal ben:
? ! . !.ie p::< S;i:ig establish- '
! ;:? ! are better oil' under
4 i': ' ' i ; i i'ley wc*i? without it.
'I". ! ' : . o i i:cir;.,.c on;mot) carI
r'ers : 1 i : i: com: er'.i- from the
h'j'h !a:io i I advocate would be equal[
ly marked.
Puro Food Law.
Incidentally in the passage of the
j pure food law the action of the varl'
ous sl^ite food and dairy commissionI
ers showed in striking fashion how
! much good for the whole people results
; from the hearty co-operation of the
federal and slate oillcials in securing
] a given reform. It ly primarily to the
action of these slate commissioners
that we owe the enactment of this
(Continued on page six.)
ssRa&LMumwircuuHSCTactMiv.sis&nHvraEraEWix.'v
Deserve
nfidence 1
have never been secret. We /
em ourselves and have
els of customers. Right
'medics have always done
in is even now required
1 Drug Law. c
dangerous drugs in other
their formulas are still
ays known everything in
s a "cure-all"?there are
?one for each human ill J
id successful remedy for
of experience. We have
ledies upon the squarest
disc was ever sold. We
urn the money to every
:k with the empty bottle
t he or site was not satis- '
failed to live up to this
did not necessitate any
xlies?on the contrary it
>roval upon them. Best
prove that Rexall Reme- [
'ou kueiv their formulas ;!
it'll find them the same w
ledies deserve your con>u
more readily trust a
,ed to lie naturally lion- t-f
on est because he had to .
xall Remedies have been p
I anil sold for four years
law now declares to be
IV
h
11
r<
.-phaus and Calisaya. J
:m-i!v arc due to the fact that it 11
c lis in a condition in which it
ken up by them, ( >
nerve-tissue builders, are one of
liiions to this branch of medicine
L ta remedy than the well-known ^
:hr* more easily assimilated form [ p
. ami the combined alkaloids of
?-t on almost ail the functions of t I i
*> 5 M
. f(
EKS, Druggists I 1"
I : b?
at& STORE ||cl
mm g I
Special !
Holiday
Our enormous purchases of Bo
season are beginning to pour in or
our friends?and their friends as
over the most interesting and vari
been our good fortune to show.
Especially do we call attention 1
recent Copyright Fiction of the hig
at $1.50, that we are offering at
50 CENTS PE
These books are worthy of a pU
so pretentious. They are printed
paper of superior quality, and boi
cloth, making thoroughly durable,
library size. We have offered you
the past, but never such an assorl
we now place before you.
There are many special bargain:
and early visitors will have a decid
gard ones, Librarians?public an
mediate advantage of this opportur
Who would not be a book owne
rower, on these terms.
Newberry
JANUARY
In oi der to reduc
:hange, will close <
Clothing, Shoes, H
Crockery at New ^
Sale is on and las
iry, 1908.
0. G. BARRIE
Prosperity
Great Deportn
?:OF:MOSELEY
WHAT IS EC(
Ivconomy is a frugal and judicious use
hieh spends money to advantage. Kco
reat bargain sales.
We have just returned from the Nort
ic market and securing many excellent
>r the public to inspect onr immense :
ore. We have the new things, the i!
iints from 5c. up. White Homespun 5c
p, complete line of Dry Goods and noti<
Hible width, at 5oc- is a great bargain,
ouths $2.50 to $10.00, Boys' from 75c
lings in Hats and Caps. Prettiest line
avc ever had. Our experienced North*
otn the North, and our immense stock
ady for inspection, embracing the new
innen.se line of Furniture is now ready
roccries, Hardware, Crockerywarc, Tr
now complete. We have added a new
rs, and the bargains contained on them
le wonder how we can sell goods so cher
> lbs. best Granulated Sugar $1.00. N
achiuc S-5.00, new He lender Machine,
>r 20 years. We have only two Organ;
ake special offer, $42.50, elegant tones,
ic old reliable Iron King and Klmo Coo
?st on the market. For every five doll
loice 011 our bargain counter.
MOSBIiUJY HROfi
Prosperity, S. C.
Bale of]
Books.
oks for the Fall and Holiday
i us, and we wish to invite all ,
well?to come in and look
ed assortment it has ever
to our magnificent display of
hest class, formerly published
r volume. |
ice in any library, be it ever, ^
in a first class manner on ^
jnd in the best bookbinders J
handsome volumes of full 1
i good things at this, price in
tment of the better kind as
5 that cannot be duplicated
ed advantage over the lagd
private?should take imlity.
:r, rather than a book bors.
c. '
I????? ? A
1, 1908.
:e stock for the
Dut Dry Goods,
ats, Caps and 4
'ork cost. '
3ts to 1st Janu:R
\ CO.. \
, S. C. 1
' ?- ? BIIIUIB ! ^IH |iHM, |i|| mi III ?1
neni Store
bros. {
)NOMY? 1
' ?f money ? that management },m
lioniy is best exemplified in our Jfll
hern markets after searchin&^B||
bargains. We are now reada^P
stock in our great dcpartnie?||l||
lice things, the eli. ap HiintMajBB
. ui>, Checked Homespun
jns. Oui Imperial Broadclotl^^BH
Men's Suits $3.50 to $i5o^Hk|1
to $6.00. New and nobc^u^^u
of Rugs and Art Squares \\Wp|l
L*rn Milliner has just returne^^^
of fashionable Millinery is no'MMcBl
and up to date things.
for inspection. Our stock
links, Valises and Woodeuwai^raKBi
' feature in 10c. and 25c. couJHhB
1 is creating a sensation. Peffifl
ip. We mention a few spocia'^JHB
C'.v drop head Domestic Sewn^^SSg
drop head, $17.93, guarantG^BHSj
! leit, and to close them out,,
oak and walnut. We hailflHRS
king vStove, beyond doubt|fl9|9|
ars you trade we give frcolfl^nnH
FOR