The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1903-01-23


system of education is, also, L an
glad to say, admirably assisted and
made more complete by the faithful
work annually accomplished in the
various deuominational colleges OF
our State.
While it is true that one of the
greatest difficulties we have had to
contend with in the development of
the State has been our lack Of capi-
tai, and while we should by legisla
ton and other means encourage out
side capital to come into the State,
and assist in building up our indus
tries and developing our resources,
and in coming should make it feel
assured that it will receive every pro
lection that it can rightfully claim,
still capital should be made to under.
stand that it is welcome only when
it comes for the purpose of earning
its Legitimate interest in fair and
legitimate manner. We should have
it understood that it cannot seek
through great combinations and by
over capitalization to create monopo.
lies by means of which it can stine
competition, paralyze individual eff
fort, reduce wages, and control prices
to the detrimont of the public.
IT. Is true that great industrial com
binations and powerful corporations
are the order of the day, and have
become fixtures in the business life
Of the country, capable of welding
IN immense power for good or for
evil. Through skilled management,
and possessiDg the ability to open
up wider markets for the sale of
their products, they are capable of
doing much good; nevertheless, the
fact remains that, as usually con-
Quoted, their tendency is decidedly
harmful to the best interests of the
country, and their proper regulation
and control through legislation is
one of the greatest problems which
today confronts our lawmakers both
State and Federal
A large majority of tie States
have enacted laws defining monopo-
lies and seeking to prevent their form
alton, and Congress has likewise
passed anti trust Legislation, yet the
subject is SO complex and informa-
ton upon which to base action so
difficult to Obtain--none of the laws
providing sufficiently for the secur-
ing of information that the ten
dency towards Capitalization of
wealth, and combinations in trade
dangerous to the public, are becom-
ing moro and more marked each
year.
In this State we have constitu-
tlonal article giving to the General
Assembly the power to enact laws to
prevent trusts, combinations, ETC.,
and to provide penalties "to the ex-
tent, if necessary for that purpose,
of forfeiture Of their franchises" and
IN 1917 an Act was passed carrying
out the provisions of this article.
This Act being doomed defective and
not far-reaching enough by the AT.
torney General, at the last session of
the General Assembly another Act
was passed, amendatory in it's nature,
and going nearer to the root of the
trouble. Power was also given to
the Attorney General to secure tes.
timony in relation to the violation
Of these Acts, and it is to be hoped
that this Legislation will be found
sufficient to protect the interests Of
the people from oppression by COM
bined capital. If not, it is the duty
of the General Assembly to amend
our laws upon this subject from time
to time as the necessities of the case
may demand, with a view always to
give to capital all it's legal privileges,
and to restrict in no way innocent
associations among our citizens, and
yet to SEQ that corporations, to which
it has given life, and clothed with
great powers, use those powers for
the betterment and not to the detri
ment of the masses Of the people. TO
protect whom is the first dnty of all
govern ments.
There has been considerable dis
cusslon throughout the State during