The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1902-12-03
Uhc Aeral1 and zI(rT"
PRESIDENTS MESSAGE.

l1NSS.
We still continue in a period of I'M
bounded property. This prosperity is
not the creature Of law, but undoubtedly
the laws under which we work have been
instrumental in creating the conditions
which made it possible, and by unwise leg
islation it would be easy enough to destroy
1t. There will undoubtedly be periods Of
depression. The wave will receae, but the
tide will advance. This nation is seated
or a continent n by two great
oceans. 1t is composed of men the de-
scendants of pioneers or, in a sense, plo-
neers themselveS-of men winnowed out
from among the nations Of the old world
by the energy, boldness and love Of ad-
venture found in their own eager hearts.
Such a nation so placed will surely Wrest
success from fortune.
AS a people We a played a large part
in the world, and We are bent upon max
ing our future even larger than the past
In particular the events Of the last four
years have definitely decided that tor wee
or for veal our place must be great among
the nations. We may either fail greatly
or succeed greatly, but we cannot avoid
the endeavor from which either great
failure or great success must come. Even
if we would we cannot play a SINAI part
would be that We should play a large part
ignobly and shamefully.
But our people, the sons Of the men OF
the civil wal, the sons OF the men VINO
had iron in their blood, rejoice IN the
present and face the future high OF hearI
and resolute Of will. Ours IS not the
creed Of the weakling and the coWar9'
ours is the gospel OF nope ano ot nE II
umphant endeavor. We do not shrlnA
from the struggle before US. There are
many problems for US to face al tne oGI-
set Of the twentieth c~entury-SEdVe 49,
lens abroad and still graver at home-Dus
we know that we can solve them, anu
solve them we'll, provided only that we
bring to the solution the qualities OF heao
and heart which were shown by tne men
who in the days Of Washington und
this government ana IN the Gays Oh AAn-
coin preserved it.
No country has ever occupied a nlgner
plane Of material well being than ours aC
the present moment. This well oeing -
to the play Of the economic forces IN ms
country for over a century; to our laws,
our sustained and continuous, policies;
above all, to the high individual average
of our citizenship. Great fortunes have
been won by those who have taken the
lead in this phenomenal Industrial deVel-
opment. and most of these fortunes nave
been won not by doing evil, but as an in
cident to action which has benefited the
community as a whole. Never before mas
m mats am0 %sH o 1sin psso been Great 60 w3q fortunes mes
nave been accumulated, and yet IN the
aggregate these fortunes are Smad N
deed when compared to the Wealtn 81 one
DSODlS IS q lO4C. = PAS
better off than they have ever been pc
fore. The insurance companies, which
are practically mutual beneht soclseies@
especially helpful 10 men of moderate
means-represent accumulations OF capt.
tai which are among the largest IN nus
country. There are more depoSltS III inc
savings banks, more owners OF Aarnls'
more well paid wageworkers IN TINS coun-
try now than ever before IN our history
OF course when the conditions have ia
vored the growth OF 50 much that was
good they have also favored somewhat
the growth Of what was evil. 1t is emf
nentiy necessary that we should erdeaTor
to cut out this evil. but let US keep g que
sense Of proportion; let US not fo IL me
greater good. The evils are real, ara
some of them are menacing. but hey als
the outgrowth not Of misery or decaoence,
but Of prosperity, of the progress OF our
gigantic Industrial development n IN
dustrial development must not be checkeq,
but side by side with 1t should 60 sucn
progressive regulation as "lii itn ~
we did not try to remedy the evils, but we
shall succeed only If we proceed paCenI7
ly, with practical common sense as Wen
the bad and holding on to the former
while ~endeavoring to get rid Of the latter.
Il my message to the present consEesS
at its first session l discussed at 1ength
the question OF the regulaton Oh tnose
big corporations commonly dong an N
terstate business, often with some tenden-
CIV to monopoly, which are popuiarly
known as trusts. The experience OF IHe
past year has emphasized, In my oplnlon'
the d~esirability Of the steps l then pro
posed. A fundamental reqolslIe OF socLai
efficiency is a high standard OF 1ndlVlouaL
energy and excellence, but this Is in no
wise inconsistent with power TO act Id
combination for aims which cannot SO
well be achieved by the Individual acCng
alone A fundamental base Of civilization
T. ~ SoNfolo hilitv of nr0nartV. but C0lS Is
in nowise inconsistent with the right OF
society to regulate the exercise OF tns
artificial 20 .serS which 1t corners upon the
owners Of property under the name OF cor
porate franchises IN such a way aS
prevent the misuse Of these powers. Cor
porations. and especially combinations OF
CORPORATIONS. should be managed under
public regulation. Experience has SHOWN
that under our system OF government q
necessary supervision canno be obtained
nv state action. 1t must therefore be
achieved by national action. Our aim Is
not to do away with corporations. On the
contrary, these big a~ggregat1onS are an
inevitable development Of modern lnous-
trialism, and the effort to destroy them
would be futile unless accomplished IN
ways that would work the utmost mis-
chief to the entire body polite We can
do nothing of good in the way Of regulat-
ing and supervising these corporations
until we fix clearly in our minds that we
are not attacking the corporations put
~endeavoring to do away with any eV1! In
them. We are not hostile to them. We
are merely determined that they shall be
so handled as to subserve the public gooo.
We draw the line against misconduct, not
against wealth. The capitalist q alone
or in conjunction with his fellows, per
forms some great industrial feat by which
he wins money is a welldoer, not a wrong
doer, provided only he works IN proper
and legitimate lines. We wish to favor
such a man when he does well. we WISH
to supervise and control his actions only
to prevent him from doing Ill. Publicity
can do no harm to the honest corporation,
and we need not be overtender ABOUT
sparing the dishonest corporation.
In curbing and regulating the comblna-
tons Of capital which are or may become
injurious to the public we must be care
full not to stop the great enterprises when
have legitimately reduced the cost'o pro-
duction. not to abandon the place which
our country has won in the leadership or
the international industrial world. not to
strike down wealth with the result or
closing factories and mines, OF turning
the Wageworker idle in the streets ana
leaving the farmer without a market TOT
what he grows. Insistence upon the i'm
possible means delay in achieving the pos
sible exactly as. on the other hand, the
stubborn defense alike OF WhaI Is 1000
the r~eSolute effort to Obstruct any at
tempt at betterment. betrays blindness to
the historic truth that. wise evolution Is
the sure safeguard against revolution.
Nc more important subject can come
before the congress than this OF the regu-
lation Of interstate business. This country
cannot afford to sit Supine on the plea
that under our peculiar system OF govern
ment we are helpless in the presence OF
the new conditions and unable to grappie
with them or to cut out whatever or evl
has arisen in connection with them. The
~1-vA 80 tho or0SS tn rpQ11lqfR lnJer-