University of South Carolina Libraries
OVTL1NKS 11)1,1? \ or \I?MIM*. ftUnOi lOWAXDi iu<; 111 s|M ss. 1><?** iKit Won u, right I rusts. Imi rhey Musi (onto under the Uw? Point* out Measures Wldch .Vie Needed and < utU on t ongress for IKtilred Legislation. Washington. Jan. 20.?President Wilson* address follows In full: "Oentlemen of the congress: In my report on the ?t?te of the union, which I hud the privilege of reading to you on the 1st of Decem? ber last. I vonturjd to reserve for discussion at .? laier dute the subject of additional legislation regarding the very difficult md intricate mHtter of trusts and monopolies. The time now seems opportune to turn to that great question; not only because the cur? rency legislation, which absorbed your attention and the attention of the country in December is now disposed of. but also because opinion appears j to be clearing about us with singulur rapidity in this other great held of action. In tho matter of the cur? rency it cleared suddenly and very happily after he much debated act was passed; In respect to the mono? polies which hrve multiplied about us sad In regard to the various means by which they have been organized and maintained it seetnH to be com? ing to a clear and ull but universal agreement In anticipation of our ac? tion, us If by the way of preparation, making the wuy easier to see and easier to set out upon with confidence and without c< nfuslon of counsel. "Legislation ras Its utmoaphers like everything eis? and the atmosphere of accommodutton and mutual under? standing which we now breathe with so much refreshment is matter of sincere congratulation*. It ought to make our task very much less diffi? cult and embarrassing than it would have been hud we been obliged to continue it act amidst the atmos? phere of suspicion und antagonism' which has so long made It impossible to approach such questions with dis? passionate fairness. Constructive leg? islation, when successful* is always tke embodiment of convincing ex? perience and of the mature public opinion which finally springs out of that experience. Legislation is a > Ineas of Interpretation, not of origination; and It la now plain what opmton is t<? w trief?-we must give ?fl> Jt In this matter. It Is not re or hasty opinion. It aprmgs out of the experience of u whole genera? tion. It has clarified Itself by long contest, and those who for a long time battled with it and sought to change It ars now frankly and honorably yielding to It and seeking to conform their actions to it. "The great business men who or- j ganised and financed monopoly and those who administered it in actual srery day transactions have year af? ter year, until now. either den!sd Its existence or Justified it as necessary for the effective maintenance and de? velopment of the vast business pro? cesses of the country la the modern circumstances of Jrtdo and manu? facture and finance; but all the while opinion has made head ugalnst them. The average bualneas man is convinced that the ways of liberty are also the ways of peace and r.he ways of suc? cess aa well; and at lust the masters of business on the great scale have begun to yl?ld their preference and purpose, pet haps their Judgment also, In honorable surrender. "What wo are purposing to do. therefore, Is happily not to hamper or Interfere with buslnoes us enlighten? ed business men prefer to do It, or lr\ any sense to put It under tho ban. The untagonlam between business and government is over. We are now about to give expression to the best business Judgment of America, to what w? know to be the business con? science and honor of the land. Tin government and business nu n are reads li meet each other hulf way In a common effort to square business methods with l.oth puhlir opinion and the law. Tb?? I>? st nionned men of' the business world cond?'inu the meth-i ods and proresM-N and consequences oi monopoly us wo condemn them, snd the tnstua live judgment Ol the vast majority o' business no-n e\eiv - where goes with them. We shall now be their spokesman. That is the strength of our position md the sure prophecy of what will ensue when our reasonable work Ig done ' When serious contest ends, when men unite In opinion and purpose, those who Sjffsj to chain;" their wa>s of business joining Wttli ?hos,, who :u>k for the i h IgejOi K si possible t<? ef? fect It in the way In which prudent and thoughtful and patriotic men would wish to see it brought ubout, with as few, ss slight, as easy and simple business readjtiotinontl '?s pos? sible in the ein u mala im as, nothing st> sentlul disturbed mahnt; torn up by the roots, no pai 'a mil .1 -.wnder w hieb f .in t,r left in wto.ii tiuiic i omhlnatton ; n.iti-lv. no get asures ,,i |WOe fling of novel changs are uei essary. It will 1 ift understood thut our object is no? lo uusetllu business 01 an.su In !?? ao? ' riouslv to hreak its estaWished courses athwart. On the contrary, we desire the laws we are now ;\l?out to pan to ' be the bulwarks and ?afaffuartlf of in 1 dustry against the forces that have disturbed it. What we have to do can be done in a new spirit, in thought? ful moderation, without revolution of an untoward kind. "We are all agreed that private monopoly is indefensible anil intoler? able, and our program is founded Up? on that conviction. It will be a com? prehensive but not a radical or un , acceptable program and these are its items, the changes which opinion de i liberately sanctions and for which business waits. "It awaits with acquiescence In the first place for laws which will of 1 fectually prohibit and prevent such lnterlockings of the personnel of the directorates of great corporations? banks and railrouds, industrial, com* i merclal and public service bodies?as in effect result in making those who borrow and those who lend practical? ly one and the same, those who sell and those who buy but the ?amo per? sons trading with one another under different names and in different com? binations and those who affect to j compete, in fact partners and mas ! ters of some whole field of business. Sufficient time should be allowed, of course, in which to effect these change of organization without inconvenience or confusion. "Such a prohibition will work much moro than a mere negative good by correcting tho serious evils which have arisen because, for example, the men who have been the directing spir? its of the great Investment banks have usurped tho plo.co which belongs to independent industrial management working in its own behalf. It will bring new men, new energies, a new spirit of initiative, now blood into the management oC our great business en? terprises. It will open the field of industrial development and origina? tion to scores of men who have been obliged to serve wren their abilities entitled them to direct. It will im? mensely hearten the young men com? ing on and will greatly enrich the business activities of the whole coun? try. "In the second place, business men, as well as those whe direct public af? fairs now recognize with painful clear? ness, the great harm and injustice which has been donii to many, if not all. of the great railroad systems of the country by the way in which they have Keen financed and their own distinctive interests subordinated to the interests of the men who financed them and of other business enter? prises which those men wished to promote, "The country is r?ady therefore to accept and accept with relief as well as approval, a law <vhich will confer upon the Interstate commerce commis? sion the power to superintend and regulate the financial operations by j which the railroads are henceforth to bo supplied with the money they need for their proper development to meet the rapidly growing requirements of the country for increased and improv? ed facilities of transportation. We cannot postpone action in this matter without leaving the railroads exposed to many serious handicaps and haz? ards; and tho prosperity of the rail? roads and the prosperity of the coun? try are inseparably connected. Upon this question those who are chiefly re? sponsible for the actual management I and operation of the railroads have spoken very plainly and very earnest? ly, with a purpose we ought to be quick to accept. It will be one step, and a very important one, toward the necessary separation of the business of the transportalon. "The business of tho country awaits also, bas long waited and has suffer? ed because it could not obtain fur? ther and more explicit legislative definition of the policy and meaning of the existing anti-trust laws. Noth? ing hampers business like uncertain? ty. Nothing daunts or discourages it like the necessity to tako chances, to | run the risk of falling under the con? demnation of the law before it can makn sure Just what the law is. Surely mj% are sufficiently familiar with the actual processes and methods Of mo? nopoly and of the many hurtful re? straints Ol trade to make definition possible, i| any rate up to the limits of what experience ha.s disclosed. These practices, being now abundantly dis? closed, run be explicitly, and item by item, forblddog by statute in such terms at will practically eliminate un Icertainty, the law Itself and the pen? alty being mad.iually plain. "And the business men of the eottn try Aoatre something more than that the menace oi legal process in these matters be made . Kpiiclt ami Inteltlg ibie. They desire tho advice, lh< definite guidance and information u inch con be supplied bj an adminli trative body, und int, i itatfl Hade com? mission "The opinion of the rountr) would Instantly approve of such o rommls? ? n. It would not wish (o see it cm fiowered to uiulle ttfflN With inOnOpOl) or in nns sort 10 BOSUm.ntiol ot business, as if the government tnnd< itseii responsible, it demands such n i commission only mn an Indlapensibb instrument of information ami pub j licity. us a clearing house for the iacts by which both the public mind and the managers of great business i undertakings should be guided, and as ; an instrumentality for doing justice to business where the processes of the ! courts or the nati -aI forces of Cor j motion outside the courts are inade? quate to adjust the remedy to the ( wrong In a way that will meet all the ; equities and circumstances of the case. j "Producing industries, for example, which have passed the point up to which combination may be consistent with the public Interest and the free I dorn of trade, cannot always be dis? sected into their component units as readily as railroad companies or sim? ilar organizations can be. Their dis | solution by ordinary legal process may oftentimes involve financial conse? quences likely to overwhelm the se ! curlty market and bring upon it breakdown and confusion. There ought to be an administrative com? mission capable of directing and shap? ing such corrective processes, not only in aid of the courts, but also by independent suggestion, if necessary. "Inasmuch as our object and the spirit of our action in these matters is to meet business half way in its pro? cesses of self correction and disturb, its legitimate course as little as pos? sible, we ought to see to it, and the , judgment of practical and sagacious men of affairs everywhere would ap? plaud us if we did see to it that pen? alties and punishments should fall, not upon business i self, to its con? fusion and interruption, but upon the individuals who use the instrumen? talities of business to do things which public policy and sound business prac? tice condemn. Every act of business is done at the command or upon the initiative of some ascertainable per? son or group of persons. These should be held individually respon? sible and the punishment should fall upon them, not upon the business or? ganization of which they make illegal use. It should be one.of the main objects of our legislation to divest such persons of their corporate cloak and deal with them as with those who do not represent their corporations, but merely by deliberate intention break the law. Business men the country through would, I am sure, ap? plaud us If we were to take effectual steps to see that the officers and a rectors of great bodies es pre* nted from bringing them and in? ouslness of the country into disrepute and danger. "Other questions remain which will need very thoughtful and practical treatment. Enterprises, In these mod? ern days of great individual fortunes, are oftentimes interlocked, not by be? ing under the control of tho same di? rectors, but by the fact that the great-! er part of their corporato stock is| owned by a single person or group of persons who are in some way inti? mately related in interest. We are agreed, 1 tu&e it, that holding QOfBOO> nies should be prohibited, but what i of the controlling private ownership! of individuals or actually coopera-j tive groups of Individuals? Shall the private owners of capital stock be suffered to bo themselves in effect holding companies. We do not wish. I suppose, to forbid the purchase of stocks by any person who pleases to buy them in such quantities as he can afford, or in any way arbitrarily to limit tho sale of stocks to bona fide purchasers. Shall we require the owners of stock, when their voting power In sev? eral companies which ought to be in? dependent of one another would con-1 stitute actual control, to make elec-! tion in which of them they will exer? cise their right to vote? This ques | tlon I vonture lor your consideration. "There Is another matter in which f Imperative considerations of justice and fair play suggests thoughtful re ' medial action. Not only do many of the combinations effected or sought to be effected in the industrial world work an injustice upon the public in general; tiny also directly and se? riously injure the individuals who are put out of business in one fair way or another by the many dislodging and exterminating forces of combination. I hopo that we shall agree in giving private individuals who eluisi to have been injured by these processes the right to found their suits for redress upon the facts and judgments proved and entered in suits by the govern? ment where the government has upon its own Initiative sued the combina? tions complained of and won its suit, and that the statute of limitation shall be suffered to run against such liti? gants only from the date of the con? clusion of the government's action. It is not fair that the private litigant should he obliged to set up and es? tablish again the facts which the governmenl has proved Me cannot afford, he has not the power t,, make use of such processes of Inquiry a j the government has command ot ? Thus shall individual justice be dole While the processes of business nre rectified and squared with the gen eral conscience. I have laid Ihi case before you, no doubt as it los in your own mind, i it Hon in the thought of the coun i What mUSl every candid men i iij "i the Huggestiotis I have laid be i fori? you, ff the plain obligations of [which l have reminded you? Thai [these are now things for which the I country is not prepared? No; but I that they an- old things now familiar, 'and RlUlt of course ?>e undertaken ii 'we are to square our laws with the thought and desire of the country. Until these things are done con? scientious business men the country j over will he unsatisfied. They are in these thitiKs our mentors and col ? leagues. We are now about to write ; the additional articles of our consti? tution of peace, the peace that is hon-' or and freedom and prosperity." Death. Mr. 8, C. Newman died at his home in Concord January 15th. He has been a Ioiik sufferer from a cancer and his death, was not a surprise to his many friends and relatives. He leaves two sisters, Mrs. S. J. Newman and Mrs. J. W. Childers and one ??rother, W. J. Xewrnan, all of Concord, Sumter County. Real Estate Transfers. Master to (VDonnell and Company, Sumter's Mount Tract containing 202 ' acres, $500. James C. Goings to Tindal and Cut tlno, Inc., one-sixth interest to tract of 50 acres, $20. * <i; j Perry M. Parrott to J. L. McCal- j lum, lot on Liberty street, $900. John L. Prltehard to Hi Drane Tindal, his interest in tract of 34 acres, $25. Marriage LlOon#0 Record. License to marry have been issued to the following colored couples: K. W. Oeddls and Josephine Howard, Sumter, and Jene Anderson and An? nie Wilson, Bhtloh. DE.iI> IN HIS BED. Unusual Knd of a Famou* Aviator. New York, Jan. 22.?Charles Ham-' ilton, the widely known aviator, died suddenly today at his home here from hemorrhage, aged :J4. He had been in bad health for two years. We Waited Late To announce our big white sale, on j account of repairs at our store, but' we have the goods and it will pay JTOU i to visit us first. MoCollum Broa.? Advt. The northernmost national forest is the Chugaeh In Alaska; the south? ernmost is the Luquillo In Porto Rico. MK'oltum Bros White Side. Starts Tuesday, January 27th. Bi sure and attend this event. You can save money bv doing so.?Advt. ?_!-?.? Greelyville BUSINESS SCHOOL Individual Training for Boys and Girls. THE course of nil BOflistl branches, shorthand, typwritlnff and book? keeping offers unsurpassed opportu? nities to the youths of your county at a very reusonahle price. Hoard can be obtained in town, i'or parti? culars address. J. M. JERVEY, GREELYVILLE, ? S. C. V_ f-\ BRIDGE TEETH By this work the den? tist is able to fix per? manently between the teeth left to you artific? ial ones that are perfect in appearance 'and use? fulness. See Dr. Court? ney. He makes chis work his specialty. Have an inspection. Get his opinion. Sumter Dental Parlors, ? Dr. C. H. Courtney, Prop Over Shaw &, McCollum. J OVER 66 YEARS EXPERIENCE Trade Marks Demon! Copyrights Ac. a nyona w?ndli?s * *kat?h daiartpMon mtty i? ?-ii. ii our uptnlMI fro? whether nu non ii pmbatilr patantabl? cmmni?rn. m tri ilrcoiiiidauilsl.HANDBOOK oaPataotg pdni ire#. DMoat apMiry for ?MurincSAtatiUi. i?i . i i ti,i < i ifirough Muun x Co, r?x wlro fl, i n ? m ,. m .i hout churK'> in thti Scientific iimcricatt. ^ haadSomaly llluatratad weekly. t.Rrr*wt cir riilntlou of ;<n? (.i nMilltlc tournal. Te'Ui*. $.< ? *?itrj foar mootb?, f L Soul by all newndaah rs. fflUNN&Co.3B~-'NewM Drauob wOi ?.>.?. ?%$ I St,, Wuablauiou. I). c THE TERRIBLE CASE OF MIKE M ULLI KAN. Down about old llooton town, in the district of Rack Bay. Mike Mulllkan had his being, ami also ran a dray. Hut the Ikal one day got after Mike, they would not lei him bo, and so one fine morning he had the pleurisy. Then followed cough"-, ?oro throat and colds, and final y grippe and boils, and sunburn inflanimation then?they got him in their <s>ils. Mike also got some bruises, corns, bunions, burns and sprains, he Pud rheumatic symptoms and lumbago gave h.m pains. Neuralgia, tootliaohe, felons, crowd? ed last upon bio ills, lonsilitis and pie umonia then knocked liim off his sills. The doctor sind brop'lutis. too, would come most any day, and it looked like Hike might have a job of riding Ids own dray. Just as deatli began to dance and mourners all looked grim, a kindly good obi neighbor said: "Try Gontejg stuff on him."' And so they took beloved .Mike and rubbed Mm hard all day, and Mike sings GO wane prolate now. and Mike still drives his dray. QoWUns is Sold and Guaranteed by ull Druggists. THREE SIZES 25, 50 AND $1.00 GOWAN MEDICAL CO., Concord, N. C. OUR WHITE SALE STARTS TUESDAY, JAN. 27TH Of Ladies', Misses and Children's Muslin Underwear. We promise you greater values than even our? selves have ever given you, as we've been preparing for this sale sometime but delayed announce? ment on account of repair work in our store. Be sure to visit this sale. ?? McCOLLUM BROTHERS Absence Makes the Heart Grow Fonder Wc're void, but a gooc portrait of the absent one w'U keep the receUec tlou more \ ivlrt? aud comfort many a lonley hour ot ?? parat io^.. We make a specialty of Portrature. and omr Studio Is exceptionally ?quippeC for tine portrait work. I*W X T ? \ The Man Who Knows Portraiture, Sells W 1 tl lei im Picture Frames and doe* Kodak finishing ? T 111UU1 llj io % SOUTH MAIN STREET. V_ SHINGLES, LATHS, WOOD a nd COAL We bave tbe Goods at Bight Prices. No Order too Large or too Small. SUMTER RETAIL LUMBER CO., Phone 56 4. ?. Hoitll. Mgr. WITH A CAPITAL ?OF $200,000.00 And Surplus of $50,000.00 This bank is in a position to extend aid to depositors for any legitimate purpose New Accounts large or snail are desired, and a perfect service is assured. Have you a banking home The Bank of Sumter it ? ? tl ? * * t I " ????????????4+*?+?????? ftt+4 J t+++1 e ? ?????MMHIMMMM 444 #.? ? M M J U.MJ.U UM5 ft 4