Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1912-10-09
TWO Big ISSUES.
SAYS GOLFERS
Nhe Tariff and the Proper Treat.
ment Of MonopoIieS.
WON'T TIE TO ROOSEVELT
ACTIVELY D~lsagreee" With HIs vlewa
About Truets and WASTES Of Com.
petition" and Supports tho candI.
daoy Of Wilson and MarehaII.

Golfers is out for Wilson and Mar.
shall. 1t refuses to support Theodore
ROOSEVELT. plus George w. Perkins.
Nlbridge H. Gary and the rest OF tho
steel tr~ust-harvester trust magnates.
Ite open opposition to the third term
ticket was indicated in the issue Of
sept. Ia. In the issue Of Sept. 81 it's
Seasons for espousiug the Democratic
cause are clear and forcehul.
The leading editorial, 1.-THE Wastes
Of Competition" says:
Moro and more the campaign is
coming down to two pressing issues,
Tho tariff and tho proper treatment of
5nonopolies. Golfers actively dis.
Agrees with the view Of monopoly be-.
Ing urged by Messrs. Roosevelt, Per
hns and Gary.
They talk a great deal about tho
wastes Of competition. The necessary
vnstes Of competition are relatively
Insignificant. and tho wastes Of unfair
and destructive competition are wholly
unnecessary. They will DO largely
eliminated when competition 10 resu.
lated.
"The La Toilette Lenroot and the
Stanley bills to perfect the Sherman
law and the New1ands-Cu Cumming pro-
Doeals for an interstate trade commits
e1on are all directed in part to that
md. Tho remaining wastes OF compe.
udon may be nkened to the wastea OF
democracy. These are obvious, but we
know also that. democracy has com
Dansauons which render 1t moro EN-
oiont than ebaolutism. So Il 10 In In.
dustry. The margin between what
men naturally do and what they a
DO 10 20 great that the system which
urges men on to effort 10 the beet sys.
tSm. rny.r
1.-THE necessary wastes Of monopoly,
On the other hand. are enormous. Some
OF these oap. Of course. be. eliminated
by regulation. An efficient intorstats
sTade communication acting undev a7Dro.
DHNhts leGiHintinn couid put an end So
irach o. tho oppression Of witch trunte
hnrc bsen galhr, Il could prevent un.
Fast discrimination. II could prevent
IpthleaG and uLGa.: UaS OK powor; Lus
- ~ AAholS "a olul1lbblOu WOulu DE-
powerless to secure for the people the
Low prices commonly attendant upon
competition.
AS no means exist for determining
whether greater net earnings are due
70 greater efficacy In management or
TO excessive profits. large net earnings
would be followed by compulsory re-
duotion OF prices, which in turn would
create a sense Of injustice suffered,
paralyze individual enterprise and pro.
duoe unprogressive, slipshod manage
mont. The attempt to secure lo,o
prices through price fning ,oould
prove as tmpotent as the statutes
sohtoh haze sought to protect tho pub
No IN railroad rdtes by limiting tho
8tvidend8.
The interstate commits.
sion has been invoked as an argument
In favor Of licensing monopoly. That
commission has atopped many abuses;
1t has practically put an end to cor
Fupt and oorrupting discrimination In
rates; It has protected tho shipper
from opDression and arrogance and In
Justice; 1t has prevented unreasonable
advances in rates; but It has secured
comparatively few notable reductions
IN rates, except those involved in
stopping discrimination between per-
sons, places or articles. It has been
poUerIess to reduce operating costs,
and greater reductions IN rdtes can
ooftS only NTH reductions IN tho coat
Of producing transportation. The in
Justice and corruption attending the
oarlior railroad period were extremely
serious. But we must not forget that
she stoeeptnD reductions IN American
operating costs and rates belong to the
earlier period Of competition among
SdtIroade. In the ten years FROM 1889
to 1893, while competition am the
railroads was active, the freight rate
per ton per mile was gradually re-
duoad from .941 to .724. The years
1899-l900 marked the great movement
for combination or Community Of in.
tereHt' In the railroad world as we'll
as In the industrial world. The freight
S"to per tos per mile began to rise. In
eacn or the clever succeeding years It
was higher than in 1899, and in 1910
It was 1853.
THE d%eadening effect Of monopoly
10 illustrated by it's arrest OF inven.
ton. The shoe machinery trust, form
co IN 1888, resulted in combining. d.
rectly and indirectly, moro than 100
chloe machinery concerns. 1t acquired
substantially n monopoly OF all the CO..
genital machinery used in bottomins
boots and shoes. as we'll az many 9th.
or machines. 1t believed itself unes.
sailable. and shoe manufacturers had
como to regard their publication En- tn