Potosi journal. (Potosi, Mo.) 1894-1929, 1899-04-19
EoW to Enjuce a State.

/ Several things have happened
; recently that direct public attcn-
ton to Il dangerous and destructive
tendency in state legislation. In
dealing Will. the subject of oppres-
siye monoplies the mistake is made
of warning against all business de-
yelopment in the larger sense,
and against the economic advances
that have been going on in COM
merce and trade all through his
tory. Legislatures that rush into
those blind raids upon proper and
necessary business organizations
hit upon quick plan to paralyze
industry in their states and drive
prosperity beyond their borders.
Modern business is a complex fab
ric and new laws that derange it in
one department may throw 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 largest
business meeting ever held in the
state to protest against new law
which, in the language of the reso-
lutions passed, threatens to ''lcad
to the most widespread panic and
depression the state has ever wit
messed" The situation is pronounc-
cd alarming, and with good rea-
son.
Not long ago the Arkansas Leg
islaturc passed crude and hasty
law aimed at pools and trusts. Its
first practical effect is to strike
down the whole insurance system
of tue state. The law has been
construed to exclude all insurance
companies that belong to an un-
dcrwriters' board or rating bureau
in any other state. The legisla-
ture may not have intended to crush
the existing insurance system and
throw business into chaos, but such
is the first result. Insurance is q
form Of capital. 1t replaces capital
lost by fire and broadcns individual
credit. The best procurable terms
i'll insurance are no longer open to a
citizen in Arkansas. A widely diff
fused business is driven away and
those engaged i'll it deprived of
work that was beneficial 10 all.
The credit of Arkansas is hurt
throughout the union, its values
decreased and its general reputa-
tion for business opportunities
damaged. Outside capital, fear
ing hostile laws, will pass over the
natural resources of the state. The
resolutions adopted declare that the
law has already destroyed proper
ty, reduced worthy citizens to beg
gary, cut down credit, curtailed
the operations of business men and
placed insurance upon an irrcspon-
sib!c basis.
In Il growing country the meth
ods and facilities in conducting bus
mess must grow with it. A busi-
ness organized on large scale is
not necessarily Il monopoly. 1t Is
Oftener the reverse, convenience
to the masses and money in their
| pockets. The general excitement
in Arkansas shows how much des-
truction can be wrought by an ILL
advised law conceived in the spirit
of the demagogue who denounces
business organization as a tyranny
and all forms of wealth as crime.
Texas has injured its standing by
laws of similar nature. The Leg
islature of Missouri shows strong
SIGNS of the faint. The same ten
dcncy to NEEDLE ignorantly and
| vindictivcly with legitimate busi-
ness is noticed at Jefferson City
and there is also in preparation an
assault upon a fair ballot. The
Governor is to be authorized to
appoint Il partisan election board in
St. Louis in order to stifie the Re
publican majority in this city.
Here again the reputation of the
state suffers. The mischief done
by Legislatures of Arkansas, Mis-
souri, and Texas is suicidal, and
men of sound judgement in all
parties see it in this light.-Globe.
Democrat.