The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1914-01-28
THROUGH CONGRESS PRESIDENT
WARNS AGAINST RESTRAINT
OF TRADE BY MONOPOLY.
HOLD MEN RESPONSIBLE
i%nterIocking Directorates Work Hard
ship on Private individuals and
Should BE Notwithstanding
Hampers Business.
Gentlemen Of the Congress:

UulOu, WHICH, 1 udo luC pli'Ao6S Va
reading to you on the 1st Of December
last, l ventured' to reserve for discus
sion at a later date the subject Of addl-
tional legislation regarding the r
difficult and intricate matter Of trusts
and monopolies. The time now seems
opportune to turn to that great ques-
ton; not only because the currency
legislation, which absorbed your atten-
ton and the attention Of the country In
December, is now disposed of, but also
because opinion seems to be clearing
about us with singular rapidity In this
other great field of action. In the
matter of the currency it cleared sud
denly and very happily after the much
debated Act was passed; in respect Of
the monopolies which have multiplied
about us and in regard to the various
means by which they have been Or
ganized and maintained it seems to be
coming to a clear and all but universal
agreement in anticipation of our &C
ton, as If by way Of preparation, max
ing the way easier to see and easier
to set out upon with confidence and
without confusion of counsel.
Legislation has its atmosphere like
everything else, and the atmosphere
of accommodation and mutual under
standing which we now breathe with
SO much refreshment is matter Of sim
cere congratulation.
It ought to make our task very. much
less difficult and embarrassing than
it would have been had we been obliged
to continue to act amidst the atmos-
phere of suspicion and antagonism
which has so long made it impossible
to approach such questions with dis
passionate fairness. Constructive leg
islation, when successful is always the
embodiment of convincing experience,
and Of the mature public opinion which
finally springs out of that experience.
Legislation Is a business Of i%nterpreta-
ton, not of origination; and it is now
plain what the opinion is to which we
must give. effect in this matter. It is
not recent or hasty opinion. It springs
out of the experience Of a whole gen.
Grafton. It has clarified itself by long
contest, and those who for a along time
battled with it and sought to change
it are now frankly and h%onorably
yielding to it and seeking to conform
their actions to it.
The great business men who organ
lied and financed monopoly and those
who administered it in actual every
day transactions have year after year,
until now, either denied its existence
or Justified 1t as necessary for the ef-
fective maintenance and development
of the vast business processes of the
country in the modern circumstances
Of trade and manufacture and finance;
but all the while opinion has made
head against them. The average bust
ness man is convinced that the ways
of liberty Ire also the ways Of peace
and the ways Of success as we'll; and
at last the masters of business on
the great scale have begun to yield
their preference and purpose, perhaps
their judgment also, in honorable sur
render. r..
What we are purposing to do, there
fore, is happily, not to hamper or in
terfere with business as enlightened
business men prefer to do it, OF in any
sense to put it under the ban. The
antagonism between business and gov
eminent is over. We are now about
to give expression to the best business
Judgment Of America, to what we know
to be the business conscience and
honor Of the land. The Government
and business men are ready to meet
each other half way in a common ef-
fort to square business methods with
both public opinion and the law. The
best informed men Of the business
world condemn the methods and pro-
cesses and consequences Of monopoly
as we condemn them; and the instinc-
tive Judgment of the vast majority of
business men everywhere goes with
them. We shall now be their spokes-
men. That is the strength of our posi-
ton and the SURE prophecy of what
will ensue when our reasonable work
Is done.
When serious contest ends, when
men unite in opinion and purpose,
those who are to change their ways
Of business joining with those who
ask for the change, it is possible to eff
feet 1t in the way in which prudent
and thoughtful and patriotic men
would wish to see i: brought about,
with as few, as slight, as easy and
simple business readjustments as pos.
sible in the circumstances, nothing
essential disturbed, nothing torn up
by the roots, no parts rent asunder
which can be left in wholesome combi-
nation. Fortunately, no measures of
sweeping or novel change are neces-
sary. 1t will be understood that our
object is not to unsettle business or
anywhere seriously to break its estab-
lished courses athwart. On the con-
trary, we desire the laws we are now
about to pass to be the bulwarks and
safeguards Of industry against the
forces that have disturbed it. What
Must Have Steel Cars.
"