The San Francisco call., 1899-08-28
BUSINESS SENSE IN THE SOUTH

~ in Atlanta by association OF business men
L known as the Southern Industrial League, the
objects OF which are to encourage the payment ana
collection of debts to repeal statutes devised 10 nder
the collection of debts to protect all forms OF invested
capital and to prevent the discountng OF DEBTS.
The organization of a league for such purposes
throws strong side light upon business conditions
OF the Southern States and reveal some OF the causes
why the South has been so backward in commercial
and industrial development In the wreck OF the ola
saveholdng society in the South there fell upon that
section so much of disaster that discomfort became the
dominant sentiment OF the people, and the quack
legislators who flourish everywhere in periods OF
popular discontent obtained such power they were
enabled to fill the statute books with laws ostensloy
designed to protect debtors but which might be fairly
termed acts to destroy credit By making 1t dlthcut
collect debts these States have made 1t difcut tor
their people to borrow money, and as consequence
while the rest of the Union has ample financial re-
to promote industry and trade the South mas
been in a condition Of chronic financial stringency'
The intelligent business men OF the South per
ceive the evil that has been brought upon them by
this fool legislation and have organized to repeal It,
At the meeting at which the permanent organize
ton effected the principal speaker was , u NC
Lendon OF Thomasville Georgia and IN the course
OF his address he gave the South much good advice
in matters OF national well OF State legislation
Commenting upon the support given to Bryan and
free silver he said:
Congress never did, never WILL and never can
regulate the value OF single piece OF money made
out of metal or paper except in payment OF taxes and
executions The unwritten laws OF commerce regulate
these and all other values To reduce it down to a
unit the buver and the seller the only people
on earthwho are possessed of final and absolute power
to regulate values and Parliaments and Kings and
Congresses are utterly helpless in the presence
OF the power of these two persons.
When we Of the South take stand against Our
own and the experience OF other nations, and join in
an effort to uphold this ancient and exploded theory,
we assume burden that reduces credit paralyzes
our resources and retards our Development
Equally pertinent was his condemnation OF the pro-
posed indiscriminate legislation against trusts On
that question he said:
q do not defend trusts but do insist that the peo
pie have right ask that the criminal or evil trusts
be named and their crimes specified before they are
invited ndiscriminate slaughter OF all corpora
tions created under State laws The laws against re-
grating forestalling and engrossng sleep calmly in
the books OF many OF States, but how one
sovereign in forty is going to dictate the conduct
OF another sovereign or how the Federal Govern
nent is going to acquire jurisdiction over franchises
them are questions upon which the antitrust
and press have so far given out information Until
an intelligent Indictment against offending trusts is
framed and presented the great assze OF the people
no progress will be made toward the suppression OF
alleged evil
Finally Mr.. McLendon closed with general coun-
sci that will be proftably studied not only in the
South but throughout the Union:
In Our haste for remedial legislation often see
the wrong man hit. We are groaning to-day under
the heavy burden OF craftsmanship which introduces
laws which in way be administered Let the
people awake and scourge such from public
office Let them awake and suppress that school
which would teach that government can usurp the
functions OF the Almighty and create something out
of nothing Let them awake and quit leVying public
taxes for private profit Let them awake and require
that only Just and reasonable laws shall be enacted,
and that these shall be promptly and imparally ad
ministered by the courts Let the people do these
things and burdens will be lifted the idle hand
and the idle dollar will under the banner OF equal
laws and while giving employment to each other
will give prosperity to country.