Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1912-01-30
INSULTING STATUTES.
Mr.. MeMaster Objects to the Attitude
of New England States.

of New England States.
There seems to be total inability
on the part of the public to under
stand that all =" these foreign corpor-
ations feed Jon u.s." This statement
was made by Insurance Commissioner
McMaster in discussing legislation
with reference to investments by for
eign insurance companies in this
state.
Mr.. McMaster yesterday gave out
the following statement:
You ask me to give you fuller
statement in respect to what I have
termed insulting statutes to South
Carolina, Virginia, North Carolina
u eorgia and other southern states In
my report as insurance commissioners
to the general assembly.
Brushing away all cobwebs and
all sophistries, the Connecticut stat
ute and all similar ones in other states
which may have such enactments,
mean that South Carolina public
promises to pay debts, such as state,
county and municipal bonds, are not
to be trusted-that and nothing else
us that an insult? 1 take 1t to be
such, plain, deliberate, formally
enacted into law and spread on the
statute books that the world may
read.
1T may be barbaric and uncivilized
to take an eye for an eye, or tooth
for a tooth. 1t certainly Is neither bar
barrie nor uncivilized, 1t certainly Is
dignified and self-respect demanding to
cut off dealings with one who insults
you. The greater the need for action
when the insult Is from one state to
another, for present day ethics de-
mand that nations fight to avenge in
suits to honor. but condemn the indi-
vidual man for taking personal action
under such circumstances.
Frankly, it seems to me that self
respect demands such action, and
cannot understand that consequences
should be considered.
my instincts prompt me to urge
refusal to grant a franchise to any
institution for the offending state.
But to the pleas of certain insurance
companies that they were not parties
to the offense and should not be pun
ished simply because they took their
being from the offending state, l did
make concessions, though l confess II
liked me ill., For l question the SEN
timents of those who should be tar
red with the same stick. I question
the sincerity Of a son at odds with the
principles of a father. So l said to
the pleas Of these insurance compan-
les: Prove your protestations by in
vesting one-half Of the money which
you hold in trust for South Carolina
in South Carolina state. county or
municipal bonds, and such like secur-
tiles, which your own state prescribes
and says are unfit for your savings
banks to invest in.
'"I no longer have any question but
that these insurance companies are
tarred with the same stick, for they
employed most brilliant lawyers, four
at least, so to becloud the issue, and l
think, that unfavorable reports were
made on the bills, but I believe the
committees approve Of my sentiments.
Just one word more-in this con-
nection, there seems to be total inabil-
ity on the part Of the public to under
stand that all of these foreign corpora
tions feed upon US; that we can get
along splendidly without them, and
that they only and solely deal with us
when they find 1t profitable to do so.
And that in all of this agitation about
the investment Of insurance funds, 1t
is not other peoples money we are
trying to have invested here, but SIM
ply and solely our own money, the
money they hold in trust for South
Carolina, after the companies have
taken their 20 per cent to 25 per cent
profit out of it, or expense portion or
whatever you may choose to call 1t, out
of the funds which they have received
from u.s." =.