The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-04-19
INJURIES TO A STATE.
Facts That Call Attcntionto Dcstru

Facts That Call Attention to Dcstruc-
tive Tendency in State Legislation.
st. Louis Globe-Democrat: Several
things have happened recently that d.
rect public attention to dangerous
and destructive tendency In state legis-
latlon. In dealing with the subject OF
oppressive monopolies the mistake is
made Of warning against all business
development In the larger sense, and
against the economic advances that
have been going on In commerce and
trade all through history. Legislatures
that rush in these blind raids upon
proper and necessary business organi-
cations hit upon n quick plan to para
lyze industry In their states and drive
prosperity beyond their borders. Mod
ern business Is complex fabric, and
new laws that derange 1t in one depart
ment may throw it all out of balance.
This has happened In Arkansas. The
active men of the state, representatives
of the state board OF trade and of the
people at large, have met In the larg-
est business meeting ever held in Ar
Kansas to protest against new law,
which, In the language of the resolu-
tions passed, threatens to lead to the
most widespread panic and depression
the state has ever witnessed" The
situation Is pronounced alarming, and
with, good reasons.
Not long ago the Arkansas legislature
passed crude and hasty law aimed
at pools and trusts. Its first practical
effect Is to strike down the whole insur-
ance system Of the, state The law
has been construed Ito exclude all in
surance companies that belong to an
underwriters board or rating bureau
In any other state.r The Legislature
may not have intended to crush the
existing Insurance system and throw
business into chaos, but such Is the
first result. Insurance Is form of
capital. 1t replaces capital lost by
fire. and broadens individual. credit.
The best procurablc terms In insurance
are no longer openI TO citizen in Ar
kansas. a widely diffused business IS
driven away. and those engaged in it
deprived of work that was beneficial to
all. The credit of Arkansas is hurt
throughout the Union, its values de-
creased and It's general reputation for
business opportunities damaged Out
side capital fearing hostile laws. will
pass over the natural resources Of the
state. The resolutions adopted declare
that the law has already destroyed
property, reduced worthy citizens to
beSgary. cut down credit, curtailed the
operations of business men and placed
insurance upon an irresponsible basis.
In a growing country the methods
and facilities in conducting business
must grow with it. 4 business organ
lied on a large scale is not necessarily
n monopoly. 1t Is oftener the reverse.
n convenience to the masses and money
In their pockets. The general excite
mcnt In Arkansas shows how much de-
struction can be wrought by an ill-ad-
vised law conceived in the spirit OF the
demagoSue who denounccs business or
'ganizations as u tyranny and all forms
of wealth as n crime. Texas has in
jured its standing by laws of similar
nature. The legislature Of Missouri
shows strong signs of the faint. The
same tendency to smeddle ignorantly
and rindctiyely with legitimate buSi-
ness Is noticed at Jefferson City.